After Robert W. Baird and Oppenheimer gave Semtech (NASDAQ: SMTC) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Craig Ellis maintained a Buy rating on Semtech yesterday and set a price target of $61. The company’s shares closed yesterday at $51.81.
According to TipRanks.com, Ellis is a top 100 analyst with an average return of 20.4% and a 61.0% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Applied Materials Inc, and Axcelis Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Semtech with a $57.75 average price target, implying an 11.5% upside from current levels. In a report released yesterday, Loop Capital Markets also maintained a Buy rating on the stock with a $60 price target.
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Semtech’s market cap is currently $3.17B and has a P/E ratio of 70.97. The company has a Price to Book ratio of 4.86.
Based on the recent corporate insider activity of 154 insiders, corporate insider sentiment is negative on the stock.
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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.
