In the last trading session, 1.92 million Semtech Corp (NASDAQ:SMTC) shares changed hands as the company’s beta touched 1.62. With the company’s per share price at $66.22 changed hands at $2.76 or 4.35% during last session, the market valuation stood at $5.71B. SMTC’s last price was a discount, traded about -20.08% off its 52-week high of $79.52. The share price had its 52-week low at $18.72, which suggests the last value was 71.73% up since then. When we look at Semtech Corp’s average trading volume, we note the 10-day average is 2.18 million shares, with the 3-month average coming to 1.94 million.
Analysts gave the Semtech Corp (SMTC) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.31. If we narrow down to specifics, the data shows that 1 out of 14 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended SMTC as a Hold, 11 felt it is a Buy and 0 rated the stock as Underweight. Semtech Corp’s EPS for the current quarter is expected to be 0.33.
Semtech Corp (NASDAQ:SMTC) trade information
Instantly SMTC was in green as seen at the end of in last trading. With action 8.36%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 7.07%, with the 5-day performance at 8.36% in the green. However, in the 30-day time frame, Semtech Corp (NASDAQ:SMTC) is 6.63% up. Looking at the short shares, we see there were 6.84 million shares sold at short interest cover period of 4.78 days.
The consensus price target for the stock as assigned by Wall Street analysts is 68, meaning bulls need an upside of 2.62% from its current market value. According to analyst projections, SMTC’s forecast low is 61 with 75 as the target high. To hit the forecast high, the stock’s price needs a -13.26% plunge from its current level, while the stock would need to tank 7.88% for it to hit the projected low.
Semtech Corp (SMTC) estimates and forecasts
Data shows that the Semtech Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 117.19% over the past 6 months, a 450.00% in annual growth rate that is considerably higher than the industry average of -4.40%. Year-over-year growth is forecast to reach 4.61% up from the last financial year.
Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of 250.51M. 12 analysts are of the opinion that Semtech Corp’s revenue for the current quarter will be 256.62M. The company’s revenue for the corresponding quarters a year ago was 192.95M and 206.1M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 29.83%. The estimates for the next quarter sales put growth at 24.51%.
The 2025 estimates are for Semtech Corp earnings to increase by 459.64%.
SMTC Dividends
Semtech Corp is expected to release its next quarterly earnings report in March.
Semtech Corp (NASDAQ:SMTC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.26% of Semtech Corp shares while 116.21% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 117.69%. There are 116.21% institutions holding the Semtech Corp stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 15.7955% of the shares, roughly 10.19 million SMTC shares worth $304.46 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 13.301% or 8.58 million shares worth $256.38 million as of 2024-06-30.