Semtech Corporation (SMTC) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 25

Semtech Corporation (SMTC) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 25 from a previous price target of $22 . RBC Capital Mkts advised their investors in a research report released on Jun 2, 2016.

On the company’s financial health, Semtech Corporation reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jun 1, 2016. Analyst had a consensus of $0.28. The company had revenue of $131.10 million for the quarter, compared to analysts expectations of $128.38 million. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Semtech Corporation opened for trading at $23.48 and hit $24.51 on the upside on Wednesday, eventually ending the session at $24.37, with a gain of 3.53% or 0.83 points. The heightened volatility saw the trading volume jump to 10,61,861 shares. Company has a market cap of $1,589 M.

In a different news, on Mar 1, 2016, James Jungsup Kim (Senior Vice President) sold 4,000 shares at $19.61 per share price. According to the SEC, on Mar 1, 2016, Emeka Chukwu (Executive VP and CFO) sold 3,000 shares at $19.31 per share price. On Feb 12, 2016, Mohan Maheswaran (President and CEO) sold 1,250 shares at $15.98 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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