Semtech (SMTC) Receives a Hold from Needham


In a report released today, Quinn Bolton from Needham maintained a Hold rating on Semtech (SMTC). The company’s shares closed on Friday at $52.24.

Bolton observed:

“In conjunction with our industry report published this morning entitled, “CES C1H19″, we are reducing forward revenue and NG EPS estimates for the majority of our semiconductor companies under coverage including Semtech. Highlights from our CES meeting appears below.”

According to TipRanks.com, Bolton is a 5-star analyst with an average return of 11.5% and a 61.9% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Sequans Communications S A, and Quantenna Communications.

Semtech has an analyst consensus of Strong Buy, with a price target consensus of $57.

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The company has a one-year high of $60.55 and a one-year low of $31.30. Currently, Semtech has an average volume of 498.6K.

Based on the recent corporate insider activity of 158 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.

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