Semtech Corp. (NASDAQ:SMTC) price closed lower on Friday, November 17, dropping -0.44% below its previous close.
A look at the daily price movement shows that the last close reads $15.91, with intraday deals fluctuated between $15.55 and $16.07. The company’s 5Y monthly beta was ticking 1.71. Taking into account the 52-week price action we note that the stock hit a 52-week high of $35.18 and 52-week low of $13.13. The stock subtracted -0.88% on its value in the past month.
Semtech Corp., which has a market valuation of $1.02 billion, is expected to release its quarterly earnings report Nov 28, 2023 – Dec 04, 2023. Analysts tracking SMTC have forecast the quarterly EPS to shrink by -0.13 per share this quarter, while the same analysts predict the annual EPS to hit -$0.03 for the year 2023 and up to $0.71 for 2025. In this case, analysts estimate an annual EPS growth of -101.10% for the year and 2,466.70% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $204.49 million, with the likely lows of $200 million and highs of $247.8 million. Staying with the analyst view, there is a consensus estimate of $891.08 million for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow 17.80% above that which the company brought in 2024.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give SMTC a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
The overview shows that SMTC’s price is at present 6.49% off the SMA20 and -21.59% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 44.30, with weekly volatility standing at 4.35%. The indicator jumps to 5.70% when calculated based on the past 30 days. Semtech Corp. (NASDAQ:SMTC)’s beta value is holding at 1.72, while the average true range (ATR) indicator is currently reading 0.97.
Turning out attention to how the Semtech Corp. stock has performed in comparison to its peers in the industry, here’s what we find: SMTC’s stock is -0.44% on the day and -45.94% in the past 12 months, while Analog Devices Inc. (ADI) traded 1.78%% in the last session and was positioned 13.10% up on its price 12 months ago. Turning out attention to how the Semtech Corp. stock has performed in comparison to its peers in the industry, here’s what we find: SMTC’s stock is -0.44% on the day and -45.94% in the past 12 months, while Analog Devices Inc. (ADI) traded 1.78%% in the last session and was positioned 13.10% up on its price 12 months ago. Another comparison is with Texas Instruments Inc. (TXN) whose stock price was up 1.80%% in the last trading session, and has flourished -11.74% over the past year. Also, ON Semiconductor Corp. (ON) showed up trend of 0.82%% while its price kept floating at -3.35% over the past year. Elsewhere in the market, the S&P 500 Index has rallied 0.13% in last trading session, with the Dow Jones Industrial also saw a positive session on the day with 0.01%.
An analysis of the Semtech Corp. (NASDAQ:SMTC) stock in terms of its daily trading volume indicates that the 3-month average is 2.09 million. However, this figure increases on the past 10-day timeline to an average of 1.37 million.
Current records show that the company has 63.87M in outstanding shares. The insiders’ percentage holdings are 1.27% of outstanding shares while the percentage share held by institutions stands at 120.05%. The stats also highlight that short interest as of Oct 30, 2023, stood at 15.85 million shares, which puts the short ratio at the time at 4.94. From this we can glean that short interest is 24.69% of company’s current outstanding shares. Notably, we see that shares short in October rose slightly given the previous month’s figure stood at 9.12 million. But the -44.79% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.