In a filing, Semtech Corp revealed its EVP and CFO Lin Mark unloaded Company’s shares for reported $88534.0 on Jan 03 ’25. In the deal valued at $65.15 per share,1,359 shares were sold. As a result of this transaction, Lin Mark now holds 4,164 shares worth roughly $0.28 million.
Then, Lin Mark bought 1,359 shares, generating $85,889 in total proceeds.
Before that, Sherazi Imran sold 4,965 shares. Semtech Corp shares valued at $322,725 were divested by the SVP and GM at a price of $65.00 per share. As a result of the transaction, Sherazi Imran now holds 1,352 shares, worth roughly $89434.8.
Needham reiterated its Semtech Corp [SMTC] rating to a Buy in a research note published on November 26, 2024; the price target was $70. A number of analysts have revised their coverage, including Craig Hallum’s analysts, who remained covering the stock and in late November has reiterated a ‘”a Buy”‘ rating for it. Summit Insights also remained covering SMTC and has decreased its forecast on August 28, 2024 with a “Hold” recommendation from previously “Buy” rating. Craig Hallum maintained its rating on June 06, 2024. It rated SMTC as “a Buy”.
Price Performance Review of SMTC
On Friday, Semtech Corp [NASDAQ:SMTC] saw its stock fall -2.14% to $66.15. Over the last five days, the stock has gained 6.52%. Semtech Corp shares have risen nearly 6.95% since the year began. Nevertheless, the stocks have risen 215.90% over the past one year. While a 52-week high of $70.27 was reached on 01/07/25, a 52-week low of $18.16 was recorded on 01/02/25. SMA at 50 days reached $58.10, while 200 days put it at $42.06.
Levels Of Support And Resistance For SMTC Stock
The 24-hour chart illustrates a support level at 64.48, which if violated will result in even more drops to 62.81. On the upside, there is a resistance level at 67.30. A further resistance level may holdings at 68.45. The Relative Strength Index (RSI) on the 14-day chart is 57.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.90, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 34.60%. Stochastics %K at 78.02% indicates the stock is a holding.
How much short interest is there in Semtech Corp?
A steep rise in short interest was recorded in Semtech Corp stocks on 2024-10-31, dropping by -0.82 million shares to a total of 6.84 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 7.67 million shares. There was a decline of -12.04%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on April 01, 2024 when Craig Hallum resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $36.
