Semtech Corp (NASDAQ:SMTC) shares, rose in value on Friday, November 01, with the stock price up by 0.79% to the previous day’s close as strong demand from buyers drove the stock to $44.54.
Actively observing the price movement in the last trading, the stock closed the session at $44.19, falling within a range of $44.33 and $45.82. The value of beta (5-year monthly) was 1.54. Referring to stock’s 52-week performance, its high was $49.53, and the low was $13.35. On the whole, SMTC has fluctuated by 9.76% over the past month.
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With the market capitalization of Semtech Corp currently standing at about $3.35 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Dec-04.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 896.44M, with a low estimate of 230.1M and a high estimate of 234.8M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 232.9M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that SMTC’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of SMTC currently trading nearly 0.48% and 3.04% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.47, while the 7-day volatility ratio is showing 4.82% which for the 30-day chart, stands at 4.76%. Furthermore, Semtech Corp (SMTC)’s beta value is 1.54, and its average true range (ATR) is 2.14.
A comparison of Semtech Corp (SMTC) with its peers suggests the former has fared considerably weaker in the market. SMTC showed an intraday change of 0.79% in last session, and over the past year, it grew by 231.65%%.
Data on historical trading for Semtech Corp (NASDAQ:SMTC) indicates that the trading volumes over the past 10 days have averaged 1.05 and over the past 3 months, they’ve averaged 1.65 million. According to company’s latest data on outstanding shares, there are 75.23 million shares outstanding.
Nearly 1.24% of Semtech Corp’s shares belong to company insiders and institutional investors own 108.46% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.23 million shares as on 2024-10-15, resulting in a short ratio of 3.85. According to the data, the short interest in Semtech Corp (SMTC) stood at 1287.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 7.37 million. The stock has risen by 103.29% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SMTC stock heading into the next quarter.
