Oppenheimer Believes Semtech (NASDAQ: SMTC) Won’t Stop Here

By Austin Angelo

Oppenheimer analyst Rick Schafer reiterated a Buy rating on Semtech (NASDAQ: SMTC) yesterday. The company’s shares closed yesterday at $36, close to its 52-week high of $38.40.

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 16.2% and a 70.1% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Advanced Micro Devices, and NXP Semiconductors.

Semtech has an analyst consensus of Moderate Buy, with a price target consensus of $40.50.

The company has a one year high of $38.40 and a one year low of $22.65. Currently, Semtech has an average volume of 480.9K.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SMTC in relation to earlier this year. Earlier this month, James Burra, a Director at SMTC bought 2,534 shares for a total of $92,491.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Semtech Corp. designs, develops, manufactures and markets analog and mixed signal semiconductor products. It also offers proprietary solutions and breakthrough technology in power management, circuit protection, timing and synchronization, touch interface, optical transport equipment, military products, power wireless RF, and digital sensor & signal conditioning ICs. The company was founded in 1960 and is headquartered in Camarillo, CA.