Semtech (SMTC) Receives a Buy from B.Riley FBR

In a report issued on January 13, Craig Ellis from B.Riley FBR maintained a Buy rating on Semtech (SMTCResearch Report), with a price target of $58.00. The company’s shares closed last Monday at $53.32.

According to TipRanks.com, Ellis is a 5-star analyst with an average return of 9.7% and a 62.6% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Skyworks Solutions, and Applied Materials.

Semtech has an analyst consensus of Moderate Buy, with a price target consensus of $54.14, a 0.8% upside from current levels. In a report issued on January 10, Stifel Nicolaus also maintained a Buy rating on the stock with a $60.00 price target.

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The company has a one-year high of $57.96 and a one-year low of $39.54. Currently, Semtech has an average volume of 359.5K.

Based on the recent corporate insider activity of 112 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SMTC in relation to earlier this year.

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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.