A Stock You Ought To Watch Is Semtech Corp. (NASDAQ: SMTC)

During the last session, Semtech Corp. (NASDAQ:SMTC)’s traded shares were 5.52 million, with the beta value of the company hitting 1.84. At the end of the trading day, the stock’s price was $31.48, reflecting an intraday gain of 11.67% or $3.29. The 52-week high for the SMTC share is $30.84, that puts it up 2.03 from that peak though still a striking 58.29% gain since the share price plummeted to a 52-week low of $13.13. The company’s market capitalization is $2.03B, and the average intraday trading volume over the past 10 days was 3.82 million shares, and the average trade volume was 1.46 million shares over the past three months.

Semtech Corp. (NASDAQ:SMTC) trade information

Semtech Corp. (SMTC) registered a 11.67% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 11.67% in intraday trading to $31.48, hitting a weekly high. The stock’s 5-day price performance is 25.07%, and it has moved by 44.14% in 30 days. Based on these gigs, the overall price performance for the year is 30.41%. The short interest in Semtech Corp. (NASDAQ:SMTC) is 11.81 million shares and it means that shorts have 11.39 day(s) to cover.

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Semtech Corp. (SMTC) estimates and forecasts

Statistics show that Semtech Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Semtech Corp. (SMTC) shares have gone up 24.87% during the last six months, with a year-to-date growth rate more than the industry average at 292.86% against -11.10. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -50.00% this quarter and then jump 9.10% in the quarter after that. In the rating firms’ projections, revenue will increase 2.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $205.04 million as predicted by 12 analyst(s). Meanwhile, a consensus of 12 analyst(s) estimates revenue growth to $215.3 million by the end of Jul 2024.

While earnings are projected to return 370.08% in 2024, the next five years will return 11.50% per annum.

SMTC Dividends

Semtech Corp. is due to release its next quarterly earnings between March 27 and April 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Semtech Corp. insiders own 1.23% of total outstanding shares while institutional holders control 130.76%, with the float percentage being 132.38%. Blackrock Inc. is the largest shareholder of the company, while 309 institutions own stock in it. As of Jun 29, 2023, the company held over 10.47 million shares (or 16.31% of all shares), a total value of $266.54 million in shares.

The next largest institutional holding, with 8.59 million shares, is of Vanguard Group Inc’s that is approximately 13.39% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $218.7 million.

Also, the Mutual Funds coming in first place with the largest holdings of Semtech Corp. (SMTC) shares are iShares Core S&P Smallcap ETF and Smallcap World Fund. Data provided on Sep 29, 2023 indicates that iShares Core S&P Smallcap ETF owns about 4.32 million shares. This amounts to just over 6.73 percent of the company’s overall shares, with a $111.2 million market value. The same data shows that the other fund manager holds slightly less at 3.64 million, or about 5.67% of the stock, which is worth about $92.69 million.