Semtech Corp (NASDAQ:SMTC) price on Wednesday, December 04, rose 3.21% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $69.10.
A look at the stock’s price movement, the close in the last trading session was $66.95, moving within a range at $66.05 and $70.27. The beta value (5-Year monthly) was 1.541. Turning to its 52-week performance, $67.00 and $16.19 were the 52-week high and 52-week low respectively. Overall, SMTC moved 57.33% over the past month.
Semtech Corp’s market cap currently stands at around $5.20 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 250.17M for the company’s revenue for the quarter, with a low and high estimate of 249.2M and 252.7M respectively. The average forecast suggests up to a 29.65% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 908.44M, representing a 4.57% 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 100% 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 28.08% and 43.43% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 78.67, while 7-day volatility ratio is 6.20% and 6.38% in the 30-day chart. Further, Semtech Corp (SMTC) has a beta value of 1.65, and an average true range (ATR) of 3.54. Analysts have given the company’s stock an average 52-week price target of $50, forecast between a low of $45 and high of $61. Looking at the price targets, the low is 34.88% off current price level while to achieve the yearly target high, price needs to move 11.72%. Nonetheless, investors will most likely welcome a 27.64% 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 2.3 over the past 10 days and 1.58 million over the past 3 months. The company’s latest data on shares outstanding shows there are 75.40 million shares.
The 1.24% of Semtech Corp’s shares are in the hands of company insiders while institutional holders own 113.35% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.84 million on 2024-10-31, giving us a short ratio of 4.78. The data shows that as of 2024-10-31 short interest in Semtech Corp (SMTC) stood at 1218.00005 of shares outstanding, with shares short falling to 7.67 million registered in 2024-09-30. Current price change has pushed the stock 215.38% 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.
