Would I Consider Semtech Corp. (NASDAQ: SMTC) Stock Any Time In The Future?

The trading price of Semtech Corp. (NASDAQ:SMTC) floating lower at last check on Tuesday, April 02, closing at $28.41, -3.29% lower than its previous close.

In examining the 52-week price action we see that the stock hit a 52-week high of $30.84 and a 52-week low of $13.13. Over the past month, the stock has gained 27.38% in value.

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Semtech Corp., whose market valuation is $1.83 billion at the time of this writing, is expected to release its quarterly earnings report Jun 05, 2024 – Jun 10, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.02 per share this quarter, however they have predicted annual earnings per share of $0.69 for 2025 and $1.61 for 2026. It means analysts are expecting annual earnings per share growth of 392.90% this year and 133.30% next year.

Analysts have forecast the company to bring in revenue of $204.46 million for the current quarter, with the likely lows of $190 million and highs of $258.82 million. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2025 is $893.21 million. The company’s revenue is forecast to grow by 2.80% over what it did in 2025.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Semtech Corp. 4 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest SMTC has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.

A quick review shows that SMTC’s price is currently 19.89% off the SMA20 and 30.18% off the SMA50. The RSI metric on the 14-day chart is currently showing 70.89, and weekly volatility stands at 8.02%. When measured over the past 30 days, the indicator reaches 5.48%. Semtech Corp. (NASDAQ:SMTC)’s beta value is currently sitting at 1.84, while the Average True Range indicator is currently displaying 1.49.

To see how Semtech Corp. stock has been performing today in comparison to its peers in the industry, here are the numbers: SMTC stock’s performance was -3.29% at last check in today’s session, and 12.50% in the past year.

An evaluation of the daily trading volume of Semtech Corp. (NASDAQ:SMTC) indicates that the 3-month average is 1.44 million. However, this figure has increased over the past 10 days to an average of 3.17 million.

Currently, records show that 64.42 million of the company’s shares remain outstanding. The insiders hold 1.32% of outstanding shares, whereas institutions hold 130.28%. The stats also highlight that short interest as of Mar 15, 2024, stood at 11.81 million shares, resulting in a short ratio of 11.39 at that time. From this, we can conclude that short interest is 18.37% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 12.99 million. However, since the stock’s price has seen 29.64% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.