Goldman Sachs Upgrades Semtech Corp. (SMTC) to Buy, Sees 21% Upside

Goldman Sachs upgraded Semtech Corp. (NASDAQ: SMTC) from Neutral to Buy with a price target of $30, suggesting 21% upside.

The firm expect company fundamentals to continue to outperform the analog group.

Goldman notes the company has demonstrated the ability to maintain a solid earnings growth profile even through the downturn, with an earnings CAGR of 20% in 2007- 2011.

2013 EPS was raised from $1.30 to $1.40 and 2014 from $1.40 to $1.55.

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 $24.82 yesterday.

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