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Semtech Corporation (SMTC) – Don’t Be So Quick to Call it Dead

Semtech Corporation (NASDAQ: SMTC) is -26.28% lower on its value in year-to-date trading and has touched a low of $17.82 and a high of $65.51 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SMTC stock was last observed hovering at around $20.78 in the last trading session, with the day’s gains setting it 0.37% off its average median price target of $40.00 for the next 12 months. It is also 65.89% off the consensus price target high of $62.00 offered by 12 analysts, but current levels are 24.46% higher than the price target low of $28.00 for the same period.

Currently trading at $21.15, the stock is 8.03% and -8.15% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.01 million and changing 1.78% at the moment leaves the stock -29.90% off its SMA200. SMTC registered -63.83% loss for a year compared to 6-month loss of -28.60%. The firm has a 50-day simple moving average (SMA 50) of $3.22 and a 200-day simple moving average (SMA200) of $19.07.

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The stock witnessed a 3.63% gain in the last 1 month and extending the period to 3 months gives it a -30.70%, and is -1.49% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.62% over the week and 3.72% over the month.

Semtech Corporation (SMTC) has around 2248 employees, a market worth around $1.37B and $756.50M in sales. Current P/E ratio is 22.19 and Fwd P/E is 11.88. Profit margin for the company is 8.10%. Distance from 52-week low is 18.69% and -67.71% from its 52-week high. The company has generated returns on investments over the last 12 months (3.20%).

Semtech Corporation (SMTC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Semtech Corporation (SMTC) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 2.30, where 5 rate it as a Hold and 1 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Semtech Corporation is expected to release its quarterly report on 08/30/2023.The EPS is expected to shrink by -50.00% this year

Semtech Corporation (SMTC) Top Institutional Holders

The shares outstanding are 63.87M, and float is at 63.14M with Short Float at 12.79%.

Semtech Corporation (SMTC) Insider Activity

A total of 44 insider transactions have happened at Semtech Corporation (SMTC) in the last six months, with sales accounting for 22 and purchases happening 22 times. The most recent transaction is an insider sale by Silberstein Asaf, the company’s EVP. SEC filings show that Silberstein Asaf sold 1,971 shares of the company’s common stock on Jun 07 at a price of $62.60 per share for a total of $0.12 million. Following the sale, the insider now owns 59000.0 shares.

Semtech Corporation (SMTC): Who are the competitors?

The company’s main competitors (and peers) include Analog Devices Inc. (ADI) that is trading 6.51% up over the past 12 months and Texas Instruments Incorporated (TXN) that is 1.05% higher over the same period. ON Semiconductor Corporation (ON) is 50.46% up on the 1-year trading charts.

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