Semtech Corp. (NASDAQ:SMTC) has a beta value of 1.80 and has seen 3.34 million shares traded in the last trading session. The company, currently valued at $2.10B, closed the last trade at $32.54 per share which meant it lost -$0.52 on the day or -1.57% during that session. The SMTC stock price is -8.45% off its 52-week high price of $35.29 and 59.65% above the 52-week low of $13.13. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.77 million shares traded. The 3-month trading volume is 1.62 million shares.
Semtech Corp. (NASDAQ:SMTC) trade information
Sporting -1.57% in the red in last session, the stock has traded in the green over the last five days, when the SMTC stock price touched $32.54 or saw a rise of 7.79%. Year-to-date, Semtech Corp. shares have moved 48.52%, while the 5-day performance has seen it change 18.37%. Over the past 30 days, the shares of Semtech Corp. (NASDAQ:SMTC) have changed 39.54%. Short interest in the company has seen 11.81 million shares shorted with days to cover at 11.39.
Semtech Corp. (SMTC) estimates and forecasts
Figures show that Semtech Corp. shares have outperformed across the wider relevant industry. The company’s shares have gained 31.53% over the past 6 months, with this year growth rate of 292.86%, compared to -11.10% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -50.00% and 9.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be 2.90%.
12 analysts offering their estimates for the company have set an average revenue estimate of $205.04 million for the current quarter. 12 have an estimated revenue figure of $215.3 million for the next quarter concluding in Jul 2024.
Earnings growth for 2024 is a modest 370.08% while over the next 5 years, the company’s earnings are expected to increase by 11.50%.
SMTC Dividends
Semtech Corp. is expected to release its next earnings report between June 05 and June 10 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Semtech Corp. (NASDAQ:SMTC)’s Major holders
Insiders own 1.23% of the company shares, while shares held by institutions stand at 130.76% with a share float percentage of 132.38%. Investors are also buoyed by the number of investors in a company, with Semtech Corp. having a total of 309 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 10.47 million shares worth more than $266.54 million. As of Jun 29, 2023, Blackrock Inc. held 16.31% of shares outstanding.
The other major institutional holder is Vanguard Group Inc, with the holding of over 8.59 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $218.7 million and represent 13.39% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Smallcap World Fund. As of Sep 29, 2023, the former fund manager holds about 6.73% shares in the company for having 4.32 million shares of worth $111.2 million while later fund manager owns 3.64 million shares of worth $92.69 million as of Jun 29, 2023, which makes it owner of about 5.67% of company’s outstanding stock.
