Williams Financial Reiterates Buy on Semtech Corp. (SMTC).
Following the company's Q3 earnings report, Williams Financial Group reiterated a Buy rating on top small cap pick. Semtech Corp. (NASDAQ: SMTC).
Commenting on results, analyst Cody G. Acree said "In what has become a rarity this earnings season, SMTC delivered strong upside October results and guided in-line with January consensus."
"A good portion of the upside was an $8.1 million contribution of unusually strong Gennum enterprise computing IP licensing revenue, but even excluding this, SMTC would have still exceeded Street estimates," noted Acree.
He thinks the company looks to be benefiting from solid organic performance in several markets supplemented by strong results from its recent acquisition.
Williams Financial Group has a $32.00 price target on Semtech stock.
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 $24.92 yesterday, with a 52 week range of $21.19-$30.46.
Commenting on results, analyst Cody G. Acree said "In what has become a rarity this earnings season, SMTC delivered strong upside October results and guided in-line with January consensus."
"A good portion of the upside was an $8.1 million contribution of unusually strong Gennum enterprise computing IP licensing revenue, but even excluding this, SMTC would have still exceeded Street estimates," noted Acree.
He thinks the company looks to be benefiting from solid organic performance in several markets supplemented by strong results from its recent acquisition.
Williams Financial Group has a $32.00 price target on Semtech stock.
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 $24.92 yesterday, with a 52 week range of $21.19-$30.46.