In the latest trading session, 1.81 million Semtech Corp. (NASDAQ:SMTC) shares changed hands as the company’s beta touched 1.83. With the company’s most recent per share price at $26.03 changing hands around $0.86 or 3.42% at last look, the market valuation stands at $1.67B. SMTC’s current price is a discount, trading about -24.63% off its 52-week high of $32.44. The share price had its 52-week low at $13.13, which suggests the last value was 49.56% up since then. When we look at Semtech Corp.’s average trading volume, we note the 10-day average is 1.26 million shares, with the 3-month average coming to 1.11 million.
Semtech Corp. (NASDAQ:SMTC) trade information
Instantly SMTC is in green as seen in intraday trades today. With action 16.31%, the performance over the past five days has been green. The jump to weekly highs of 27.48 added 3.42% to the stock’s daily price. The company’s shares are showing year-to-date upside of 18.80%, with the 5-day performance at 16.31% in the green. However, in the 30-day time frame, Semtech Corp. (NASDAQ:SMTC) is 27.91% up. Looking at the short shares, we see there were 12.81 million shares sold at short interest cover period of 13.8 days.
Semtech Corp. (SMTC) estimates and forecasts
Data shows that the Semtech Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 2.44% over the past 6 months, a -96.07% in annual growth rate that is considerably lower than the industry average of -11.10%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Semtech Corp. will fall -106.40%. Year-over-year growth is forecast to reach 15.80% up from the last financial year.
Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $196.46 million. 12 analysts are of the opinion that Semtech Corp.’s revenue for the quarter ending Apr 2024 will be $200.57 million. The company’s revenue for the corresponding quarters a year ago was $167.51 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 17.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 12.17%. The 2024 estimates are for Semtech Corp. earnings to decrease by -96.07%, but the outlook for the next 5-year period is at 11.50% per year.
Semtech Corp. (NASDAQ:SMTC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.23% of Semtech Corp. shares while 130.76% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 132.38%. There are 130.76% institutions holding the Semtech Corp. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 16.31% of the shares, roughly 10.47 million SMTC shares worth $266.54 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 13.39% or 8.59 million shares worth $218.7 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Smallcap World Fund. With 4.32 million shares estimated at $111.2 million under it, the former controlled 6.73% of total outstanding shares. On the other hand, Smallcap World Fund held about 5.67% of the shares, roughly 3.64 million shares worth around $92.69 million.
