Semtech (SMTC) Receives a Rating Update from a Top Analyst


In a report released today, Rick Schafer from Oppenheimer maintained a Buy rating on Semtech (SMTC), with a price target of $52.00. The company’s shares closed last Monday at $44.66.

According to TipRanks.com, Schafer is a top 25 analyst with an average return of 18.2% and a 74.4% 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 $46.50, implying a 6.4% upside from current levels. In a report issued on April 15, Needham also maintained a Buy rating on the stock with a $47.00 price target.

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Based on Semtech’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $138 million and GAAP net loss of $4.39 million. In comparison, last year the company earned revenue of $160 million and had a net profit of $19.92 million.

Based on the recent corporate insider activity of 95 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.

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