In last trading session, Semtech Corp. (NASDAQ:SMTC) saw 4.33 million shares changing hands with its beta currently measuring 1.81. Company’s recent per share price level of $33.23 trading at -$1.53 or -4.40% at ring of the bell on the day assigns it a market valuation of $2.15B. That closing price of SMTC’s stock is at a discount of -7.73% from its 52-week high price of $35.80 and is indicating a premium of 60.49% from its 52-week low price of $13.13. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 5.65 million shares which gives us an average trading volume of 1.80 million if we extend that period to 3-months.
Semtech Corp. (NASDAQ:SMTC) trade information
Upright in the red during last session for losing -4.40%, in the last five days SMTC remained trading in the green while hitting it’s week-highest on Monday, 04/08/24 when the stock touched $33.23 price level, adding 7.18% to its value on the day. Semtech Corp.’s shares saw a change of 51.67% in year-to-date performance and have moved 5.56% in past 5-day. Semtech Corp. (NASDAQ:SMTC) showed a performance of 47.23% in past 30-days. Number of shares sold short was 11.81 million shares which calculate 11.39 days to cover the short interests.
Semtech Corp. (SMTC) estimates and forecasts
Statistics highlight that Semtech Corp. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 50.98% of value to its shares in past 6 months, showing an annual growth rate of 292.86% while that of industry is -11.10. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 0.70% from the last financial year’s standing.
11 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $200.15 million for the same. And 11 analysts are in estimates of company making revenue of $210.16 million in the next quarter that will end on Jul 2024.
In 2024, company’s earnings growth rate is likely to be around 370.08% while estimates for its earnings growth in next 5 years are of 11.50%.
SMTC Dividends
Semtech Corp. is more likely to be releasing its next quarterly report in May and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Semtech Corp. (NASDAQ:SMTC)’s Major holders
Insiders are in possession of 1.23% of company’s total shares while institution are holding 130.76 percent of that, with stock having share float percentage of 132.38%. Investors also watch the number of corporate investors in a company very closely, which is 130.76% institutions for Semtech Corp. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at SMTC for having 10.47 million shares of worth $266.54 million. And as of Jun 29, 2023, it was holding 16.31% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 8.59 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 13.39% of outstanding shares, having a total worth of $218.7 million.
On the other hand, iShares Core S&P Smallcap ETF and Smallcap World Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 4.32 million shares of worth $111.2 million or 6.73% of the total outstanding shares. The later fund manager was in possession of 3.64 million shares on Jun 29, 2023, making its stake of worth around $92.69 million in the company or a holder of 5.67% of company’s stock.
