Semtech Corp. (NASDAQ:SMTC) does about 2.36M shares in volume on a normal day but saw 1149648 shares change hands in Tuesday’s trading. The company now has a market cap of 2.57B USD. Its current market price is $39.81, marking an increase of 0.25% compared to the previous close of $39.71. The 52 week high reached by this stock is $39.92 whilst the lowest price level in 52 weeks is $13.13.
Semtech Corp. (SMTC) has a 20-day trading average at $35.04 and the current price is -0.28% off the 52-week high compared with 203.20% distance from its 52-week low. The 50-day simple moving average of the closing price is $29.06 and its 200-day simple moving average is $23.33. If we look at the stock’s price movements over the week, volatility stands at 4.07%, which increases to 5.29% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 77.64 to suggest the stock is overbought.
The consensus objective for the share price is $39.50, suggesting that the stock has a potential downside of -0.78% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on April 01, 2024 when Craig Hallum reiterated the stock to “Buy” and issued a price target of between $30 and $36. The Benchmark Company upgraded the stock to “Buy” from Hold on October 19, 2023 at a price target of $30. Susquehanna upgraded its price target at $30.
Semtech Corp. (SMTC) stock is up 5.82% over the week and 17.57% over the past month. Its price is 81.70% year-to-date and 113.12% over the past year.
The stock last released its quarterly earnings report for quarter ended 1/31/2024, with the company’s earnings per share (EPS) of 0.02 above consensus estimates by 0.1. The company’s next earnings report forecasts estimating quarterly EPS at 0.0 and 0.63 for whole year. Expected sales for next quarter are $210.16M, which analysts say will come at $874.98M for the current fiscal year and next year at $1.03B. In addition, estimates put the company’s current quarterly revenue at an average of $200.15M.
To reach the target analysts have set, the stock logically needs to shrink -0.78 percent from here.
The company has a return on investment of -100.59% and return on equity of -487.06%. The forward price to earnings ratio is 25.78. The beta has a value of 1.64. Price to sales ratio is 2.96.
