Semtech Corp.’s recent filing unveils that its EVP and CFO Lin Mark acquired Company’s shares for reported $33232.0 on Apr 08 ’24. In the deal valued at $33.23 per share,1,000 shares were bought. As a result of this transaction, Lin Mark now holds 1,000 shares worth roughly $33860.0.
Then, Summers Sylvia sold 16,000 shares, generating $358,304 in total proceeds. Upon selling the shares at $22.39, the Board of Directors now owns 13,008 shares.
Before that, Rodensky Michael W sold 18,227 shares. Semtech Corp. shares valued at $464,788 were divested by the SVP at a price of $25.50 per share. As a result of the transaction, Rodensky Michael W now holds 0 shares, worth roughly $0.0.
Craig Hallum reiterated its Semtech Corp. [SMTC] rating to a Buy in a research note published on April 01, 2024; the price target was $36. A number of analysts have revised their coverage, including The Benchmark Company’s analysts, who increased its forecast for the stock in mid October from “a Hold” to “a Buy”. Susquehanna also remained covering SMTC and has increased its forecast on September 14, 2023 with a “Positive” recommendation from previously “Neutral” rating. Summit Insights revised its rating on September 14, 2023. It rated SMTC as “a Buy” which previously was an “a Hold”.
Price Performance Review of SMTC
On Monday, Semtech Corp. [NASDAQ:SMTC] saw its stock jump 4.06% to $33.86. Over the last five days, the stock has gained 15.29%. Semtech Corp. shares have risen nearly 54.54% since the year began. Nevertheless, the stocks have risen 57.56% over the past one year. While a 52-week high of $35.29 was reached on 04/08/24, a 52-week low of $13.13 was recorded on 01/17/24. SMA at 50 days reached $22.83, while 200 days put it at $22.44. A total of 5.59 million shares were traded, compared to the trading of 5.53 million shares in the previous session.
Levels Of Support And Resistance For SMTC Stock
The 24-hour chart illustrates a support level at 32.67, which if violated will result in even more drops to 31.47. On the upside, there is a resistance level at 35.43. A further resistance level may holdings at 36.99. The Relative Strength Index (RSI) on the 14-day chart is 78.30, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.86, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 13.62%. Stochastics %K at 83.37% indicates the stock is a selling.
How much short interest is there in Semtech Corp.?
A steep rise in short interest was recorded in Semtech Corp. stocks on Mar 15, 2024, dropping by -1.18 million shares to a total of 11.81 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 12.99 million shares. There was a decline of -9.99%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 25.27% of the overall stock float, the days-to-cover ratio (short ratio) fell to 11.39.
