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Semtech Corp. (SMTC) up 28.66% since start of the year

Semtech Corp. (NASDAQ: SMTC) is 28.66% higher on its value in year-to-date trading and has touched a low of $13.13 and a high of $30.84 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SMTC stock was last observed hovering at around $29.37 in the last trading session, with the day’s loss setting it -1.18%.

Currently trading at $28.19, the stock is 18.98% and 29.20% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.79 million and changing -4.02% at the moment leaves the stock 26.90% off its SMA200. SMTC registered 11.64% gain for a year compared to 6-month loss of 9.48%. The firm has a 50-day simple moving average (SMA 50) of $3.53 and a 200-day simple moving average (SMA200) of -$3.56.

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The stock witnessed a 26.41% gain in the last 1 month and extending the period to 3 months gives it a 28.66%, and is 26.58% up 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 8.39% over the week and 5.45% over the month.

Semtech Corp. (SMTC) has around 1917 employees, a market worth around $1.82B and $868.76M in sales. Fwd P/E is 18.26. Profit margin for the company is -125.70%. Distance from 52-week low is 114.70% and -8.59% from its 52-week high. The company has generated returns on investments over the last 12 months (-100.59%).

Semtech Corp. quarterly earnings per share for the current quarter are estimated at $0.02 with sales reaching $204.46M over the same period.The EPS is expected to grow by 370.08% this year, but quarterly earnings will post 2.80% year-over-year.

Semtech Corp. (SMTC) Top Institutional Holders

309 institutions hold shares in Semtech Corp. (SMTC), with institutional investors hold 132.38% of the company’s shares. The shares outstanding are 64.42M, and float is at 63.71M with Short Float at 18.54%. Institutions hold 130.76% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 10.47 million shares valued at $266.54 million. The investor’s holdings represent 16.31% of the SMTC Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 8.59 million shares valued at $218.7 million to account for 13.39% of the shares outstanding. The other top investors are State Street Corporation which holds 4.38 million shares representing 6.83% and valued at over $111.59 million, while Capital Research Global Investors holds 6.24% of the shares totaling 4.0 million with a market value of $101.92 million.

Semtech Corp. (SMTC) Insider Activity

The most recent transaction is an insider sale by Summers Sylvia,the company’sBoard of Directors. SEC filings show that Summers Sylvia sold 16,000 shares of the company’s common stock on Dec 15 ’23 at a price of $22.39 per share for a total of $0.36 million. Following the sale, the insider now owns 13008.0 shares.

Semtech Corp. disclosed in a document filed with the SEC on Sep 28 ’23 that Rodensky Michael W (SVP) sold a total of 18,227 shares of the company’s common stock. The trade occurred on Sep 28 ’23 and was made at $25.50 per share for $0.46 million. Following the transaction, the insider now directly holds 0.0 shares of the SMTC stock.

Still, SEC filings show that on Sep 18 ’23, Walsh Paul V Jr (Director) acquired 20,000 shares at an average price of $24.83 for $0.5 million. The insider now directly holds 20,888 shares of Semtech Corp. (SMTC).

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