There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Semtech (SMTC), NetApp (NTAP) and QAD (QADA) with bullish sentiments.
Semtech (SMTC)
B.Riley FBR analyst Craig Ellis reiterated a Buy rating on Semtech today and set a price target of $72.00. The company’s shares closed last Wednesday at $62.90, close to its 52-week high of $64.10.
According to TipRanks.com, Ellis is a 4-star analyst with an average return of 2.8% and a 49.7% success rate. Ellis covers the Technology sector, focusing on stocks such as Sequans Communications S A, Axcelis Technologies, and Skyworks Solutions.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Semtech with a $64.18 average price target, a 1.8% upside from current levels. In a report issued on August 18, Piper Sandler also maintained a Buy rating on the stock with a $70.00 price target.
See today’s analyst top recommended stocks >>
NetApp (NTAP)
Northland Securities analyst Nehal Chokshi maintained a Buy rating on NetApp today and set a price target of $57.00. The company’s shares closed last Wednesday at $42.21.
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 10.1% and a 53.6% success rate. Chokshi covers the Technology sector, focusing on stocks such as Super Micro Computer, Palo Alto Networks, and Avid Technology.
NetApp has an analyst consensus of Hold, with a price target consensus of $48.25, implying a 15.0% upside from current levels. In a report issued on August 25, Merrill Lynch also reiterated a Buy rating on the stock with a $55.00 price target.
QAD (QADA)
B.Riley FBR analyst Zach Cummins maintained a Buy rating on QAD today and set a price target of $55.00. The company’s shares closed last Wednesday at $44.50.
According to TipRanks.com, Cummins is a 5-star analyst with an average return of 23.2% and a 53.2% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International, American Software, and ChannelAdvisor.
Currently, the analyst consensus on QAD is a Moderate Buy with an average price target of $51.50.
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