Oppenheimer analyst Rick Schafer assigned a Buy rating to Semtech (SMTC) today and set a price target of $80.00. The company’s shares closed last Thursday at $69.43.
According to TipRanks.com, Schafer is a top 100 analyst with an average return of 21.8% and a 74.1% 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 $80.75 average price target.
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Based on Semtech’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $154 million and net profit of $18.49 million. In comparison, last year the company earned revenue of $141 million and had a net profit of $14 million.
Based on the recent corporate insider activity of 93 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.
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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.