Semtech (SMTC) Gets a Buy Rating from Oppenheimer


In a report released yesterday, Rick Schafer from Oppenheimer reiterated a Buy rating on Semtech (NASDAQ: SMTC), with a price target of $60. The company’s shares closed yesterday at $42.92.

According to TipRanks.com, Schafer is a 5-star analyst with an average return of 13.7% and a 63.2% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as Akoustis Technologies, Texas Instruments, and Maxim Integrated.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Semtech with a $61 average price target, a 42.1% upside from current levels. In a report issued on October 11, Stifel Nicolaus also maintained a Buy rating on the stock with a $60 price target.

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Based on Semtech’s latest earnings release for the quarter ending July 31, the company reported a quarterly net profit of $25.17 million. In comparison, last year the company had a net profit of $12.56 million.

Based on the recent corporate insider activity of 157 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. It offers signal integrity, protection, wireless and sensing, and power and high-reliability products.

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