In today’s recent session, 6.43 million shares of the Semtech Corp (NASDAQ:SMTC) have been traded, and its beta is 1.64. Most recently the company’s share price was $36.16, and it changed around -$18.35 or -33.66% from the last close, which brings the market valuation of the company to $3.12B. SMTC at last check was trading at a discount to its 52-week high of $79.52, offering almost -119.91% off that amount. The share price’s 52-week low was $19.12, which indicates that the recent value has risen by an impressive 47.12% since then. We note from Semtech Corp’s average daily trading volume that its 10-day average is 2.9 million shares, with the 3-month average coming to 2.08 million.
Semtech Corp stock received a consensus recommendation rating of Buy, based on a mean score of 1.31. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 2 recommended SMTC as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight.
Semtech Corp (NASDAQ:SMTC) trade information
Instantly SMTC has been showing red trend so far today with a performance of -33.66% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 67.85 on recent trading dayincreased the stock’s daily price by 46.71%. The company’s shares are currently down -41.54% year-to-date, but still down -43.02% over the last five days. On the other hand, Semtech Corp (NASDAQ:SMTC) is -46.51% down in the 30-day period. We can see from the shorts that 6.84 million shares have been sold at a short interest cover period of 4.78 day(s).
The consensus price target as assigned by Wall Street analysts is $68, which translates to bulls needing to increase their stock price by 46.82% from its current value. Analyst projections state that SMTC is forecast to be at a low of $61 and a high of $75.
Semtech Corp (NASDAQ:SMTC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.26% of Semtech Corp shares, and 116.21% of them are in the hands of institutional investors. The stock currently has a share float of 117.69%. Semtech Corp stock is held by 374.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 15.7955% of the shares, which is about 10.19 million shares worth $304.46 million.
VANGUARD GROUP INC, with 13.301% or 8.58 million shares worth $256.38 million as of 2024-06-30, 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 Nov 30, 2024. The former held 4.86 shares worth $180.75 million, making up 6.42% of all outstanding shares. On the other hand, Smallcap World Fund held roughly 3.33 shares worth around $123.99 million, which represents about 4.40% of the total shares outstanding.
