Semtech (SMTC) – Investment Analysts’ Recent Ratings Updates

Posted by: Hasmir Abdula Posted date: March 13, 2013 In: Analyst Articles - Company Sum, Investing

A number of firms have modified their ratings and price targets on shares of Semtech (NASDAQ: SMTC) recently:

Semtech had its price target raised by analysts at Raymond James from $32.00 to $37.00. They now have a “strong-buy” rating on the stock.
Semtech had its price target raised by analysts at Oppenheimer from $35.00 to $41.00. They now have an “outperform” rating on the stock. They wrote, “We’re increasing our SMTC estimates and price target following a second consecutive quarter of standout execution. SMTC reported 4Q (Jan.) results of $151M/$0.49 vs. consensus $149M/$0.43 and guided 1Q (April) up 5% Q/Q to $158M vs. consensus $152.5M. The Gennum acquisition continues to confound the naysayers, smartphone protection is outperforming expectations (led by Samsung) and 100G long-haul SerDes competition has yet to materialize. We believe Samsung, 100G deployments and LTE basestation builds present upside through 2013. As the top line continues to impress, diversified SMTC is committed to early debt paydown and improved operating leverage.”
Semtech had its price target raised by analysts at Lazard Capital Markets from $39.00 to $41.00. They now have a “buy” rating on the stock.
Semtech ‘s EPS estimates were raised by analysts at Raymond James. They now have a $40.00 price target on the stock. They previously had a $37.00 price target on the stock.
Semtech had its “buy” rating reaffirmed by analysts at Goldman Sachs.
Semtech had its price target raised by analysts at Raymond James from $37.00 to $40.00. They now have a “strong-buy” rating on the stock.

Shares of Semtech traded down 0.18% during mid-day trading on Wednesday, hitting $32.96. Semtech has a one year low of $22.22 and a one year high of $34.42. The stock’s 50-day moving average is currently $30.79. The company has a market cap of $2.188 billion and a P/E ratio of 53.26.

Semtech Corporation (Semtech) is a supplier of analog and mixed-signal semiconductor products. Semtech designs, produces and markets a range of products that are sold principally into applications within the high-end consumer, industrial, computing and communications end-markets.

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