In a report released today, Quinn Bolton from Needham assigned a Buy rating to Semtech (SMTC), with a price target of $68.00. The company’s shares closed last Wednesday at $62.90, close to its 52-week high of $64.10.
According to TipRanks.com, Bolton is a top 25 analyst with an average return of 33.1% and a 75.8% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Advanced Energy Industries, and Axcelis Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Semtech with a $62.64 average price target, which is a -0.7% downside 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.
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Semtech’s market cap is currently $4.1B and has a P/E ratio of 149.20. The company has a Price to Book ratio of 13.92.
Based on the recent corporate insider activity of 108 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. The company was founded in 1960 and is headquartered in Camarillo, CA.
