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 $322,725 were sold by Sherazi Imran on Dec 20 ’24. At $65.00 per share, Sherazi Imran sold 4,965 shares. The insider’s holdings dropped to 1,352 shares worth approximately $83959.2 following the completion of this transaction.
Also, Sherazi Imran sold 2,946 shares, netting a total of over 186,470 in proceeds. Following the sale of shares at $63.30 each, the insider now holds 6,317 shares.
Before that, Sherazi Imran had added 4,965 shares to its account. In a trade valued at $322,725, the Officer bought Semtech Corp shares for $65.00 each.
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 -3.71%. Over the course of the year, Semtech Corp shares have jumped approximately 0.40%. Shares of the company reached a 52-week high of $63.43 on 01/02/25 and a 52-week low of $61.37 on 01/02/25. A 50-day SMA is recorded $55.92, while a 200-day SMA reached $40.96. Nevertheless, trading volume fell to 1.01 million shares from 0.86 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 61.17, which, if violated, would cause prices to drop to 60.24. In the upper region, resistance lies at 63.23. The next price resistance is at 64.36. RSI (Relative Strength Index) is 51.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.10, which suggests the price will decrease in the coming days. Percent R is at 87.72%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
