Semtech Corp. (NASDAQ:SMTC) shares, rose in value, with the stock price up by 2.36% to the previous day’s close as strong demand from buyers drove the stock to $34.70.
Actively observing the price movement in the last trading, the stock closed the session at $33.90. Referring to stock’s 52-week performance, its high was $35.80, and the low was $13.13. On the whole, SMTC has fluctuated by 37.86% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 874.98M, with a low estimate of 200M and a high estimate of 200.9M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 200.15M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that SMTC’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SMTC currently trading nearly 8.54% and 34.05% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 66.71, while the 7-day volatility ratio is showing 5.52% which for the 30-day chart, stands at 7.08%. Furthermore, Semtech Corp. (SMTC)’s beta value is 1.76, and its average true range (ATR) is 1.87.
A comparison of Semtech Corp. (SMTC) with its peers suggests the former has fared considerably weaker in the market. SMTC showed an intraday change of 2.36% in last session, and over the past year, it grew by 68.36%%.
Data on historical trading for Semtech Corp. (NASDAQ:SMTC) indicates that the trading volumes over the past 3 months, they’ve averaged 2.17 million. According to company’s latest data on outstanding shares, there are 64.42 million shares outstanding.
Nearly 1.33% of Semtech Corp.’s shares belong to company insiders and institutional investors own 130.71% of the company’s shares. The stock has risen by 58.38% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SMTC stock heading into the next quarter.
