The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Semtech Corp. shares valued at $33,232 were purchased by Lin Mark on Apr 08 ’24. At $33.23 per share, Lin Mark acquired 1,000 shares. The insider’s holdings grew to 1,000 shares worth approximately $35000.0 following the completion of this transaction.
Also, Summers Sylvia sold 16,000 shares, netting a total of over 358,304 in proceeds. Following the sale of shares at $22.39 each, the insider now holds 13,008 shares.
Before that, Rodensky Michael W had sold 18,227 shares from its account. In a trade valued at $464,788, the SVP traded Semtech Corp. shares for $25.50 each. Upon closing the transaction, the insider’s holdings decreased to 18,227 shares, worth approximately $0.0.
As published in a research note from Craig Hallum on April 01, 2024, Semtech Corp. [SMTC] has been retained to a Buy and the price target has been revised to $36. Analysts at The Benchmark Company upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid October. As of September 14, 2023, Susquehanna has increased its “Neutral” rating to a “Positive” for SMTC. Earlier on September 14, 2023, Summit Insights upgraded its rating. Their new recommendation was “a Buy” for SMTC stock which previously was a “a Hold”.
Analyzing SMTC Stock Performance
During the last five days, there has been a surge of approximately 5.87%. Over the course of the year, Semtech Corp. shares have jumped approximately 59.74%. Shares of the company reached a 52-week high of $35.80 on 04/08/24 and a 52-week low of $18.16 on 01/17/24. A 50-day SMA is recorded $23.63, while a 200-day SMA reached $22.59. Nevertheless, trading volume fell to 3.77 million shares from 4.46 million shares the previous day.
Support And Resistance Levels for Semtech Corp. (SMTC)
According to the 24-hour chart, there is a support level at 33.22, which, if violated, would cause prices to drop to 31.43. In the upper region, resistance lies at 36.07. The next price resistance is at 37.13. RSI (Relative Strength Index) is 74.75 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.53, which suggests the price will increase in the coming days. Percent R is at 5.85%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Semtech Corp. subject to short interest?
Stocks of Semtech Corp. saw a sharp steep in short interest on Mar 15, 2024 dropping by -1.18 million shares to 11.81 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 12.99 million shares. A decline of -9.99% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.39 of the overall float, the days-to-cover ratio (short ratio) decline to 11.39.
