Semtech Corp’s recently made public that its SVP and GM Sherazi Imran unloaded Company’s shares for reported $0.1 million on Jan 17 ’25. In the deal valued at $75.00 per share,1,338 shares were sold. As a result of this transaction, Sherazi Imran now holds 14 shares worth roughly $1022.28.
Then, Silberstein Asaf sold 2,000 shares, generating $140,000 in total proceeds. Upon selling the shares at $70.00, the EVP and COO now owns 76,417 shares.
Before that, Sherazi Imran bought 1,338 shares. Semtech Corp shares valued at $100,350 were divested by the Officer at a price of $75.00 per share.
UBS initiated its Semtech Corp [SMTC] rating to a Buy in a research note published on January 17, 2025; the price target was $85. A number of analysts have revised their coverage, including Needham’s analysts, who remained covering the stock and in late November has reiterated a ‘”a Buy”‘ rating for it. Craig Hallum also remained covering SMTC and reiterated its “Buy” recommendation on November 26, 2024. Summit Insights revised its rating on August 28, 2024. It rated SMTC as “a Hold” which previously was an “a Buy”.
Price Performance Review of SMTC
On Friday, Semtech Corp [NASDAQ:SMTC] saw its stock fall -3.81% to $73.02. Over the last five days, the stock has gained 5.93%. Semtech Corp shares have risen nearly 18.06% since the year began. Nevertheless, the stocks have risen 226.71% over the past one year. While a 52-week high of $79.52 was reached on 01/22/25, a 52-week low of $18.72 was recorded on 01/02/25. SMA at 50 days reached $62.56, while 200 days put it at $43.96.
Levels Of Support And Resistance For SMTC Stock
The 24-hour chart illustrates a support level at 72.01, which if violated will result in even more drops to 71.00. On the upside, there is a resistance level at 74.98. A further resistance level may holdings at 76.94. The Relative Strength Index (RSI) on the 14-day chart is 59.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.91, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 38.70%. Stochastics %K at 74.05% 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 June 06, 2024 when Craig Hallum resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $48.
