Piper Sandler analyst Harsh Kumar reiterated a Buy rating on Semtech (SMTC – Research Report) today and set a price target of $30.00. The company’s shares closed yesterday at $15.98.
Kumar covers the Technology sector, focusing on stocks such as Apple, ON Semiconductor, and Semtech. According to TipRanks, Kumar has an average return of 23.0% and a 66.37% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Semtech with a $35.67 average price target, representing a 123.22% upside. In a report released yesterday, Benchmark Co. also upgraded the stock to a Buy with a $30.00 price target.
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SMTC market cap is currently $1.03B and has a P/E ratio of -2.33.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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 (SMTC) Company Description:
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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