Wang & Lee Group board approves 250-to-1 reverse share split
In a recent transaction, Mark Lin, Executive Vice President and Chief Financial Officer of Semtech Corp (NASDAQ:SMTC), sold shares of the company totaling approximately $377,638. The sales occurred on March 6, 2025, at prices ranging from $33.5244 to $36.03 per share. The stock, which has shown significant volatility according to InvestingPro data, currently trades at $32.33, with analyst price targets ranging from $54 to $82.
Prior to these sales, Lin executed several transactions involving Semtech’s common stock. On March 4, Lin acquired 12,656 shares at no cost, as part of a performance stock unit vesting. Additionally, on March 5, Lin exercised options to acquire 18,242 shares, also at no cost. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering over 1,400 US stocks, including Semtech.
The transactions were conducted under a pre-established Rule 10b5-1 trading plan, which Lin adopted on September 17, 2024. Following the sales, Lin holds 11,625 shares of Semtech stock directly. With the company’s next earnings report due on March 12, 2025, investors should note that analysts expect a return to profitability this fiscal year.
In other recent news, Semtech Corp has announced the upcoming departure of Mark P. Russell, its Senior Vice President of Global Sales and Marketing. The company disclosed that Russell’s last day will be March 6, 2025, with a severance package including a lump sum payment of $175,000 and healthcare coverage continuation. In addition, Semtech’s fiscal year 2026 revenue forecast for its CopperEdge products has been adjusted downward, with the company not expecting to meet the earlier estimate of $50 million due to changes in server rack architecture and customer feedback. Analysts at Stifel and Needham have responded to this disclosure by lowering their price targets for Semtech to $70 and $54, respectively, while maintaining a Buy rating. Stifel’s revised target is based on a 6.1x valuation of projected sales for 2025, while Needham’s is based on a 30x multiple of a "worst case" 2026 EPS estimate. Despite these adjustments, Semtech remains focused on diversifying its CopperEdge portfolio and developing new server rack designs. Investors are advised to monitor these developments closely as they unfold.
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