Semtech Corp. (NASDAQ:SMTC) price on current trading day, fall -2.42% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $41.06.
A look at the stock’s price movement, the close in the last trading session was $42.08, moving within a range at $40.59 and $43.2962. The beta value (5-Year monthly) was 1.539. Turning to its 52-week performance, $49.53 and $13.13 were the 52-week high and 52-week low respectively. Overall, SMTC moved -1.25% over the past month.
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Semtech Corp.’s market cap currently stands at around $3.09 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Analysts have a consensus estimate of 232.9M for the company’s revenue for the quarter, with a low and high estimate of 230.1M and 234.8M respectively. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 896.44M, representing a 3.20% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SMTC is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
14 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 11 recommend SMTC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SMTC’s current price about -5.38% and 8.70% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 45.90, while 7-day volatility ratio is 6.04% and 5.08% in the 30-day chart. Further, Semtech Corp. (SMTC) has a beta value of 1.55, and an average true range (ATR) of 2.21. Analysts have given the company’s stock an average 52-week price target of $50, forecast between a low of $36.5 and high of $61. Looking at the price targets, the low is 11.11% off current price level while to achieve the yearly target high, price needs to move -48.56%. Nonetheless, investors will most likely welcome a -21.77% jump to $50 which is the analysts’ median price.
If we refocus on Semtech Corp. (NASDAQ:SMTC), historical trading data shows that trading volumes averaged 2.19 over the past 10 days and 1.71 million over the past 3 months. The company’s latest data on shares outstanding shows there are 75.23 million shares.
The 1.24% of Semtech Corp.’s shares are in the hands of company insiders while institutional holders own 109.19% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 7.37 million on 2024-09-13, giving us a short ratio of 4.37. The data shows that as of 2024-09-13 short interest in Semtech Corp. (SMTC) stood at 1312.0 of shares outstanding, with shares short falling to 7.42 million registered in 2024-08-15. Current price change has pushed the stock 87.40% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SMTC stock continues to rise going into the next quarter.
