On Jan. 06, Chukwu Emeka divested U.S. $220,249 in shares of Semtech Corporation. The EVP, CFO sold 3,000 shares at a price per share of $73.42. The transaction decreased this specific insider’s holdings to 89,005 shares worth around $6.54 million at present.
Cowen maintained its Semtech Corporation [SMTC] rating to the equivalent of an Outperform but changed the price target to $66 from $60, in a research note dated August 27, 2020. That figure represents around a -11.39% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Cowen’s analysts reiterating the shares to “an Outperform” rating in a research note to investors issued in late August. Meanwhile, Summit Insights had lowered its rating on SMTC to “Hold” from the earlier “Buy”, in a research note produced for clients August 27, 2020. In addition, there was no change from Cowen on May 28, 2020. The rater maintained SMTC to “an Outperform” but assigned new target price of $60.
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Is Semtech Corporation [NASDAQ:SMTC] a Good Buy Right Now?
It should be noted that SMTC technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from Semtech Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.37 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.38 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.43 million shares.
SMTC Price Performance
On Wall Street, Semtech Corporation [NASDAQ:SMTC] finished Wednesday’s session up 1.70% at $73.52. The stock went up to $74.59 at the same session while its lowest single day price was $72.36. In the last five days, it saw a rise of about 4.24%, Semtech Corporation shares gained by almost 1.98% since the beginning of the year. However, the share price has dropped to as low as -1.08% below its one year high. On 01/06/21, the company shares recorded $74.59, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $70.20. The company’s shares have inclined by 38.80% in the past year. The 50-day SMA achieved is $66.99 while the 200-day SMA is $55.38. Volume dropped to 0.68 million from 0.93 million in the previous session.
Semtech Corporation [SMTC] Valuation Measures
Notably, Semtech Corporation [SMTC] stock cannot be classified as a good candidate in the listing of underestimated low-priced Semiconductors companies to purchase soonest possible with the prevailing 12-month PE ratio of 121.72. The measure means the stock is exchanging at a premium as compared to the 32.75x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 8.40 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.64 which means SMTC serve an unattractive investment opportunity compared to its competitors.
SMTC Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 72.39 level, and in case of violation of this particular level, it will cause more drop to 71.26 level. On the upper level, 75.72 is still the key resistance. The stock may increase to the subsequent resistance at 74.62. The Relative Strength Index (RSI) pinned on the 14-day chart is 62.73, implying a neutral technical stance while the MACD stands at 0.60, meaning price will decrease in the next trading period. Percent R indicator moved to 23.36%, implying bullish price movement. Stochastic %K at 52.20% suggest holding the stock.
What is the short interest in Semtech Corporation?
Short interest in the Semtech Corporation stock has surged, increasing by 0.25 million shares to total 1.07 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.32 million, data from Yahoo Finance shows. The decrease of -23.36% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.92% of the overall float for the stock.
Semtech Corporation’s Biggest Shareholders: Who Owns Semtech Corporation [SMTC]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 6,467,779 shares or roughly 9.93% of the outstanding SMTC shares. This means their shares have reduced by -534,999 from the 6,467,779 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $399,657,061. Details in the latest 13F filings reveal that Fidelity Management & Research Co acquired their 451.12% stake valued at $313,040,357 while Invesco Advisers, Inc. cut theirs at $288,135,763. During the last quarter, Fidelity Management & Research Co raised 3,797,827 of its shares in Semtech Corporation while Invesco Advisers, Inc. sold -42,541 shares. The SSgA Funds Management, Inc.’s holdings currently number 2,240,526 shares at $164723471.52. According to the firm’s last 13F report, Ivy Investment Management Co. shares in the company at filing stood at 2,124,434 shares, roughly $143,335,562.
SMTC Earnings Forecast For The Current Quarter
Semtech Corporation [SMTC] is expected to report strong earnings results for the quarter ending on Jan 2021. Consensus estimates give the company expected revenues of $158.05M and an earnings per share of $0.48 for Jan 2021. Looking further ahead, the company is expected to report revenue of $155.33M at an EPS of $0.47 for Apr 2021. The estimates represent upside of 12.00% and 26.66% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
SMTC Earnings Estimates For The Current Year
For the financial year, Semtech Corporation [NASDAQ:SMTC] is expected to bring in revenue of $588.45M. The returns are nearly $40.94 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 1.72, higher than that of FY20 by $0.2. Estimates put this year’s earnings growth at 13.20%, 26.70% for the next, and at an annual 20.00% over the next 5-year period. As for sales, forecasts are for an increase of 7.50% in the current fiscal year and a further 12.00% over the following year.
What are analyst thoughts on Semtech Corporation?
Looking forward to the Semtech Corporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Semtech Corporation stock at $75.50 within the next 12 months, which represents almost 2.62 per cent growth from its previous closing price of $73.52. The highest analysts’ target for Semtech Corporation stock projections is $87.00 and the lowest one is $53.00. Still, 12 analysts sharing their consensus rating for SMTC stock in 2021 agree that it is a Buy.