Mark Lin Sells 683 Shares of Semtech (NASDAQ:SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) CFO Mark Lin sold 683 shares of Semtech stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $159.90, for a total value of $109,211.70. Following the completion of the transaction, the chief financial officer owned 35,366 shares in the company, valued at $5,655,023.40. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Lin also recently made the following trade(s):

• On Wednesday, July 1st, Mark Lin sold 970 shares of Semtech stock. The shares were sold at an average price of $150.41, for a total transaction of $145,897.70.

Semtech Stock Down 12.1%

Shares of NASDAQ:SMTC traded down $20.19 during trading on Monday, reaching $147.05. The stock had a trading volume of 3,173,172 shares, compared to its average volume of 2,755,522. Semtech Corporation has a one year low of $57.50 and a one year high of $177.35. The company has a market capitalization of $13.72 billion, a P/E ratio of 97.38 and a beta of 2.35. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $133.86 and its 200 day simple moving average is $123.62.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.10. The firm had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, research analysts expect that Semtech Corporation will post 2.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Oppenheimer set a $200.00 price objective on Semtech in a research report on Wednesday, May 27th. Robert W. Baird increased their price target on Semtech from $225.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. TD Cowen raised their price target on Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Mizuho set a $225.00 price target on Semtech in a research note on Wednesday, May 27th. Finally, B. Riley Financial upped their price objective on shares of Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and an average target price of $204.71.

Hedge Funds Weigh In On Semtech

Several hedge funds and other institutional investors have recently bought and sold shares of SMTC. Andar Capital Management HK Ltd acquired a new stake in Semtech during the 2nd quarter valued at approximately $162,000,000. California State Teachers Retirement System raised its holdings in shares of Semtech by 16,868.8% during the second quarter. California State Teachers Retirement System now owns 17,446,944 shares of the semiconductor company’s stock worth $2,823,788,000 after purchasing an additional 17,344,126 shares during the last quarter. BlackRock Inc. acquired a new position in Semtech during the second quarter valued at $1,577,947,000. Geode Capital Management LLC boosted its holdings in Semtech by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock valued at $154,704,000 after purchasing an additional 6,715 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in shares of Semtech by 12.0% during the 4th quarter. Fred Alger Management LLC now owns 859,855 shares of the semiconductor company’s stock valued at $63,363,000 after buying an additional 92,396 shares during the last quarter.

About Semtech

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and technology company that designs and supplies analog and mixed-signal products. Its solutions are used to manage, protect, connect and process electronic signals in infrastructure, data centers, industrial systems, automotive applications, consumer devices and communications equipment.

The company’s portfolio includes signal-integrity and connectivity products, power-management and protection devices, wireless and radio-frequency solutions, and specialized semiconductors.