Analysts Offer Insights on Technology Companies: Semtech (NASDAQ: SMTC), Veeco (NASDAQ: VECO) and Okta (NASDAQ: OKTA)

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Semtech (SMTCResearch Report), Veeco (VECOResearch Report) and Okta (OKTAResearch Report) with bullish sentiments.

Semtech (SMTC)

Needham analyst Quinn Bolton assigned a Buy rating to Semtech today and set a price target of $80.00. The company’s shares closed last Wednesday at $67.90, close to its 52-week high of $70.08.

According to TipRanks.com, Bolton is a top 25 analyst with an average return of 37.2% and a 79.8% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Advanced Energy Industries, and Ultra Clean Holdings.

Semtech has an analyst consensus of Strong Buy, with a price target consensus of $75.33, a 10.8% upside from current levels. In a report issued on November 30, B.Riley Financial also maintained a Buy rating on the stock with a $83.00 price target.

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Veeco (VECO)

In a report released today, Gus Richard from Northland Securities maintained a Buy rating on Veeco, with a price target of $20.00. The company’s shares closed last Wednesday at $16.93.

According to TipRanks.com, Richard is a top 100 analyst with an average return of 29.9% and a 74.3% success rate. Richard covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Power Integrations, and Himax Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Veeco with a $18.00 average price target, a 5.6% upside from current levels. In a report issued on December 1, Oppenheimer also maintained a Buy rating on the stock with a $20.00 price target.

Okta (OKTA)

In a report released today, Shaul Eyal from Oppenheimer reiterated a Buy rating on Okta, with a price target of $295.00. The company’s shares closed last Wednesday at $230.21, close to its 52-week high of $251.18.

According to TipRanks.com, Eyal is a top 100 analyst with an average return of 24.4% and a 72.0% success rate. Eyal covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Ping Identity Holding.

Okta has an analyst consensus of Moderate Buy, with a price target consensus of $269.63, which is a 14.9% upside from current levels. In a report issued on November 23, KeyBanc also initiated coverage with a Buy rating on the stock with a $282.00 price target.

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