Semtech Corp (NASDAQ:SMTC) price on Thursday, February 27, fall -9.83% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $35.06.
A look at the stock’s price movement, the close in the last trading session was $38.88. Turning to its 52-week performance, $79.52 and $19.83 were the 52-week high and 52-week low respectively. Overall, SMTC moved -42.63% over the past month.
Semtech Corp’s market cap currently stands at around $3.02 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 249.4M for the company’s revenue for the quarter, with a low and high estimate of 238.07M and 254.66M respectively. The average forecast suggests up to a 29.26% 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 907.61M, representing a 4.47% 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% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell 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 -24.64% and -39.99% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 30.47, while 7-day volatility ratio is 7.24% and 6.69% in the 30-day chart. Further, Semtech Corp (SMTC) has a beta value of 1.69, and an average true range (ATR) of 3.82. Analysts have given the company’s stock an average 52-week price target of $68, forecast between a low of $61 and high of $75. Looking at the price targets, the low is -73.99% off current price level while to achieve the yearly target high, price needs to move -113.92%. Nonetheless, investors will most likely welcome a -93.95% jump to $68 which is the analysts’ median price.
If we refocus on Semtech Corp (NASDAQ:SMTC), historical trading data shows that trading volumes averaged 2.55 million over the past 3 months. The company’s latest data on shares outstanding shows there are 86.18 million shares.
The 1.04% of Semtech Corp’s shares are in the hands of company insiders while institutional holders own 111.44% of the company’s shares. Current price change has pushed the stock -43.31% 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.
