In a report released yesterday, Rick Schafer from Oppenheimer assigned a Buy rating to Semtech (SMTC), with a price target of $80.00. The company’s shares closed last Thursday at $78.00.
According to TipRanks.com, Schafer is a top 100 analyst with an average return of 24.2% and a 79.2% success rate. Schafer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Akoustis Technologies, and NXP Semiconductors.
Currently, the analyst consensus on Semtech is a Strong Buy with an average price target of $77.75, representing a 4.8% upside. In a report issued on January 13, Cowen & Co. also maintained a Buy rating on the stock with a $84.00 price target.
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Semtech’s market cap is currently $4.8B and has a P/E ratio of 105.80. The company has a Price to Book ratio of 15.65.
Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SMTC in relation to earlier this year.
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. The company was founded in 1960 and is headquartered in Camarillo, CA.
