Semtech Corporation (SMTC) is Reiterated by Drexel Hamilton to Buy, Raises Price Target to $ 32

Semtech Corporation (SMTC) was Reiterated by Drexel Hamilton to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 32 from a previous price target of $29 . Drexel Hamilton advised their investors in a research report released on Sep 1, 2016.

On the company’s financial health, Semtech Corporation reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 31, 2016. Analyst had a consensus of $0.33. The company had revenue of $135.90 million for the quarter, compared to analysts expectations of $135.38 million. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Semtech Corporation closed down -0.05 points or -0.19% at $26.16 with 3,29,766 shares getting traded on Monday. Post opening the session at $26.33, the shares hit an intraday low of $26.13 and an intraday high of $26.539 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Aug 15, 2016, Mohan Maheswaran (President and CEO) sold 1,500 shares at $26.00 per share price. According to the SEC, on Jul 15, 2016, Marc Pegulu (Vice President) sold 1,000 shares at $24.42 per share price. On Jun 28, 2016, Bruce C Edwards (director) sold 5,000 shares at $21.97 per share price, according to the Form-4 filing with the securities and exchange commission.

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs develops and markets a range of products for commercial applications which are sold into the enterprise computing communications high-end consumer and industrial end-markets. It offers datacenters passive optical networks notebooks servers and other computer peripherals for the enterprise computing market. It offers base stations optical networks carrier networks switches and routers cable modems and other communication infrastructure equipment for communications market. It offers handheld products smartphones set-top boxes digital televisions and other consumer equipment for the high-end consumer market. It offers video broadcast studio equipment automated meter reading Internet of Things (IoT) smart grid military and aerospace medical security systems automotive industrial and home automation and other industrial equipment for the industrial market.

Semtech Corporation

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