The stock of Semtech Corp. (NASDAQ:SMTC) last traded at $31.48, up 11.67% from the previous session.
SMTC stock price is now 43.36% away from the 50-day moving average and 41.54% away from the 200-day moving average. The market capitalization of the company currently stands at $2.03B.
With the price target enhanced from $30 to $36, Craig Hallum maintained Buy rating for Semtech Corp. (NASDAQ: SMTC). On October 19, 2023, The Benchmark Company Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $30, while ‘Susquehanna’ rates the stock as ‘Positive’
In other news, Summers Sylvia, Board of Directors sold 16,000 shares of the company’s stock on Dec 15 ’23. The stock was sold for $358,304 at an average price of $22.39. Upon completion of the transaction, the Board of Directors now directly owns 13,008 shares in the company, valued at $0.41 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 28 ’23, SVP Rodensky Michael W sold 18,227 shares of the business’s stock. A total of $464,788 was realized by selling the stock at an average price of $25.50. A total of 1.32% of the company’s stock is owned by insiders.
During the past 12 months, Semtech Corp. has had a low of $13.13 and a high of $30.84. The fifty day moving average price for SMTC is $22.15 and a two-hundred day moving average price translates $22.29 for the stock.
The latest earnings results from Semtech Corp. (NASDAQ: SMTC) was released for Oct, 2023. According to the Semiconductors Company, earnings per share came in at -$0.06, missing analysts’ expectations of -$0.03 by -0.03. This compares to -$0.79 EPS in the same period last year. The net profit margin was -125.70% and return on equity was -487.06% for SMTC. The company reported revenue of $192.95 million for the quarter, compared to $167.51 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.18 percent. For the current quarter, analysts expect SMTC to generate $205.04M in revenue.
