UPDATE: Williams Financial Group Upgrades Semtech Corp. (SMTC) to Buy; Check Again...Quarter Was Fairly Strong
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Price: $35.58 -0.03%
Rating Summary:
5 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 13
Rating Summary:
5 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 13
Trade SMTC Now!
(Updated - May 25, 2012 7:44 AM EDT)
Williams Financial Group upgraded Semtech Corp. (NASDAQ: SMTC) from Hold to Buy. PT $32.
Analyst, Cody G. Acree, said, "While the fact that results were below consensus may well pressure SMTC’s shares in Friday trading, the quarter actually was fairly strong and actually in-line with Street expectations. The integration of the Gennum acquisition significantly complicated the results and masked the relative underlying health, which also looks to be improving...With the company seeing solid bookings and backlog growth, resulting in a book-to-bill above one, and with greater than originally anticipated Gennum revenue and cost synergies, we believe SMTC is in a strong position to deliver growth over the next few quarters."
"...we are increasing our FY13 estimates to sales of $591.3 million and EPS of $1.68 from $480.6 million and $1.59. We are also issuing our FY14 estimates of sales of $704.4 million and EPS of $2.37."
For an analyst ratings summary and ratings history on Semtech Corp. click here. For more ratings news on Semtech Corp. click here.
Shares of Semtech Corp. closed at $23.70 yesterday, with a 52 week range of $19.16-$30.46.
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Williams Financial Group upgraded Semtech Corp. (NASDAQ: SMTC) from Hold to Buy. PT $32.
Analyst, Cody G. Acree, said, "While the fact that results were below consensus may well pressure SMTC’s shares in Friday trading, the quarter actually was fairly strong and actually in-line with Street expectations. The integration of the Gennum acquisition significantly complicated the results and masked the relative underlying health, which also looks to be improving...With the company seeing solid bookings and backlog growth, resulting in a book-to-bill above one, and with greater than originally anticipated Gennum revenue and cost synergies, we believe SMTC is in a strong position to deliver growth over the next few quarters."
"...we are increasing our FY13 estimates to sales of $591.3 million and EPS of $1.68 from $480.6 million and $1.59. We are also issuing our FY14 estimates of sales of $704.4 million and EPS of $2.37."
For an analyst ratings summary and ratings history on Semtech Corp. click here. For more ratings news on Semtech Corp. click here.
Shares of Semtech Corp. closed at $23.70 yesterday, with a 52 week range of $19.16-$30.46.
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