Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Semtech Corp shares valued at $415,233 were purchased by Lin Mark on Dec 17 ’24. At $67.92 per share, Lin Mark acquired 6,114 shares.
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Also, Fischer Gregory Michael sold 1,888 shares, netting a total of over 119,088 in proceeds. Following the sale of shares at $63.08 each, the insider now holds 2,534 shares.
Before that, Silberstein Asaf had sold 4,000 shares from its account. In a trade valued at $263,753, the EVP and COO traded Semtech Corp shares for $65.94 each. Upon closing the transaction, the insider’s holdings decreased to 4,000 shares, worth approximately $4.85 million.
As published in a research note from Needham on November 26, 2024, Semtech Corp [SMTC] has been retained to a Buy and the price target has been revised to $70. Analysts at Craig Hallum resumed the stock at ‘”a Buy”‘ outlook in a report released in late November. As of August 28, 2024, Summit Insights has decreased its “Buy” rating to a “Hold” for SMTC. Earlier on June 06, 2024, Craig Hallum resumed its rating. Their recommendation was “a Buy” for SMTC stock.
Analyzing SMTC Stock Performance
During the last five days, there has been a drop of approximately -1.86%. Over the course of the year, Semtech Corp shares have jumped approximately 187.17%. Shares of the company reached a 52-week high of $70.27 on 12/04/24 and a 52-week low of $18.16 on 01/17/24. A 50-day SMA is recorded $52.42, while a 200-day SMA reached $39.15. Nevertheless, trading volume fell to 1.56 million shares from 1.65 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 60.76, which, if violated, would cause prices to drop to 58.60. In the upper region, resistance lies at 66.05. The next price resistance is at 69.18. RSI (Relative Strength Index) is 56.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.44, which suggests the price will decrease in the coming days. Percent R is at 81.85%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
