Oppenheimer analyst Rick Schafer assigned a Buy rating to Semtech (SMTC) yesterday and set a price target of $65.00. The company’s shares closed last Wednesday at $62.90, close to its 52-week high of $64.10.
According to TipRanks.com, Schafer is a top 100 analyst with an average return of 18.5% and a 77.9% success rate. Schafer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Akoustis Technologies, and NXP Semiconductors.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Semtech with a $62.64 average price target, implying 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 $4.08B and has a P/E ratio of 148.30. The company has a Price to Book ratio of 13.84.
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.
