Stifel Nicolaus analyst Tore Svanberg maintained a Buy rating on Semtech (NASDAQ: SMTC) today and set a price target of $64. The company’s shares closed yesterday at $49.90, close to its 52-week high of $51.95.
According to TipRanks.com, Svanberg is a top 100 analyst with an average return of 18.3% and a 75.9% success rate. Svanberg covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Silicon Laboratories, and Maxim Integrated.
Currently, the analyst consensus on Semtech is a Strong Buy with an average price target of $60.44, representing a 21.1% upside. In a report issued on August 23, Oppenheimer also assigned a Buy rating to the stock with a $58 price target.
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Based on Semtech’s latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $12.38 million. In comparison, last year the company had a net profit of $12.56 million.
Based on the recent corporate insider activity of 170 insiders, corporate insider sentiment is neutral on the stock. Last month, Marc Pegulu, the VP and GM of SMTC sold 500 shares for a total of $24,425.
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.
