Goldman Sachs Raises Price Target on Semtech Corp. (SMTC)

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Goldman Sachs today maintained a Buy rating on Semtech Corp. (NASDAQ: SMTC) and raised its price target to $36.00 (from $33.00).

"We believe product cycles and M&A synergies can drive outperformance for both fundamentals and the stock in 2013 . . . Semtech remains in a leadership position in next-generation 40G/100G optical comms products, and it is well positioned to capitalize on the Gennum acquisition with both revenue and cost synergies," said analyst James Schneider.

Schneider sees unit volume growth at Semtech given its exposure to Samsung and Blackberry (Nasdaq: BBRY).

For an analyst ratings summary and ratings history on Semtech Corp. (NASDAQ: SMTC) click here. For more ratings news on Semtech Corp. click here.

Shares of Semtech Corp. closed at $30.72 yesterday, with a 52 week range of $22.22-$31.84.

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