Semtech (SMTC) Received its Third Buy in a Row
After Oppenheimer and Roth Capital gave Semtech (NASDAQ: SMTC) a Buy rating last month, the company received another Buy, this time from Stifel Nicolaus. Analyst Tore Svanberg maintained a Buy rating on Semtech today and set a price target of $60. The company’s shares opened today at $49.01.
According to TipRanks.com, Svanberg is a 5-star analyst with an average return of 16.1% and a 67.9% success rate. Svanberg covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Quantenna Communications, and Power Integrations.
Semtech has an analyst consensus of Strong Buy, with a price target consensus of $61, which is a 24.5% upside from current levels. In a report issued on October 8, Roth Capital also maintained a Buy rating on the stock with a $63 price target.
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Semtech’s market cap is currently $3.26B and has a P/E ratio of 67.68. The company has a Price to Book ratio of 4.63.
Based on the recent corporate insider activity of 162 insiders, corporate insider sentiment is neutral 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.