Semtech Corp. (NASDAQ: SMTC): A Stock Worth Thinking About Today

In the last trading session, 5.31 million shares of the Semtech Corp. (NASDAQ:SMTC) were traded, and its beta was 1.85. Most recently the company’s share price was $27.49, and it changed around -$0.37 or -1.33% from the last close, which brings the market valuation of the company to $1.77B. SMTC currently trades at a discount to its 52-week high of $32.44, offering almost -18.01% off that amount. The share price’s 52-week low was $13.13, which indicates that the current value has risen by an impressive 52.24% since then. We note from Semtech Corp.’s average daily trading volume that its 10-day average is 2.52 million shares, with the 3-month average coming to 1.24 million.

Semtech Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 1.56. If we narrow it down even further, the data shows that 0 out of 14 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 2 recommended SMTC as a Hold, whereas 10 deemed it a Buy, and 0 rated it as Underweight. Semtech Corp. is expected to report earnings per share of $0.02 for the current quarter.

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Semtech Corp. (NASDAQ:SMTC) trade information

Instantly SMTC has showed a red trend with a performance of -1.33% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 25.47% year-to-date, but still up 19.26% over the last five days. On the other hand, Semtech Corp. (NASDAQ:SMTC) is 33.97% up in the 30-day period. We can see from the shorts that 11.81 million shares have been sold at a short interest cover period of 11.39 day(s).

The consensus price target as assigned by Wall Street analysts is $36.5, which translates to bulls needing to increase their stock price by 24.68% from its current value. Analyst projections state that SMTC is forecast to be at a low of $26 and a high of $45.

Semtech Corp. (SMTC) estimates and forecasts

Semtech Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 8.02 percent over the past six months and at a 292.86% annual growth rate that is well above the industry average of -11.10%. The year-over-year growth rate is expected to be 1.80%, up from the previous year.

Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $200.57 million in revenue for the current quarter. 12 analysts expect Semtech Corp. to make $212.58 million in revenue for the quarter ending Jul 2024.

Semtech Corp. earnings are expected to increase by 371.21% in 2024, but the outlook is positive 11.50% per year for the next five years.

SMTC Dividends

Semtech Corp.’s next quarterly earnings report is expected to be released around June 05 and June 10.

Semtech Corp. (NASDAQ:SMTC)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.23% of Semtech Corp. shares, and 130.76% of them are in the hands of institutional investors. The stock currently has a share float of 132.38%. Semtech Corp. stock is held by 309 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2023, it held 16.09% of the shares, which is about 10.34 million shares worth $284.33 million.

Vanguard Group Inc, with 12.95% or 8.33 million shares worth $228.92 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

iShares Core S&P Smallcap ETF and Smallcap World Fund were the top two Mutual Funds as of Jan 30, 2024. The former held 4.36 million shares worth $119.97 million, making up 6.79% of all outstanding shares. On the other hand, Smallcap World Fund held roughly 3.8 million shares worth around $104.48 million, which represents about 5.91% of the total shares outstanding.