In a report released on October 23, Tore Svanberg from Stifel Nicolaus maintained a Buy rating on Semtech (SMTC – Research Report), with a price target of $26.00. The company’s shares closed yesterday at $16.10.
Svanberg covers the Technology sector, focusing on stocks such as Semtech, MACOM Technology Solutions Holdings, and Silicon Laboratories. According to TipRanks, Svanberg has an average return of 15.2% and a 60.56% success rate on recommended stocks.
Currently, the analyst consensus on Semtech is a Strong Buy with an average price target of $33.56, implying a 108.45% upside from current levels. In a report released yesterday, Susquehanna also maintained a Buy rating on the stock with a $25.00 price target.
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The company has a one-year high of $35.18 and a one-year low of $15.25. Currently, Semtech has an average volume of 1.76M.
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.
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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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