In yesterday’s Wall Street session, Semtech Corp. (NASDAQ:SMTC) shares traded at $34.76, up 2.66% from the previous session.
SMTC stock price is now 52.28% away from the 50-day moving average and 54.93% away from the 200-day moving average. The market capitalization of the company currently stands at $2.24B.
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, Lin Mark, EVP and CFO bought 1,000 shares of the company’s stock on Apr 08 ’24. The stock was bought for $33,232 at an average price of $33.23. Upon completion of the transaction, the EVP and CFO now directly owns 1,000 shares in the company, valued at $34760.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 15 ’23, Board of Directors Summers Sylvia sold 16,000 shares of the business’s stock. A total of $358,304 was realized by selling the stock at an average price of $22.39. This leaves the insider owning 13,008 shares of the company worth $0.45 million. A total of 1.33% 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 $35.80. The fifty day moving average price for SMTC is $23.11 and a two-hundred day moving average price translates $22.49 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 $200.15M in revenue.
