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The Company designs, develops and markets a range of products that are sold principally to customers in the computer, consumer product, communications and industrial markets.
Upgrading Shares of Semtech to Buy Posted Mon Jun 18, 09:15 am ETby Zacks Equity ResearchMid-cap semiconductor firm Semtech Corporation (SMTC) has recently been upgraded from Hold to Buy by Zacks senior semiconductor industry analyst Ken Nagy, CFA. We went into his latest report to find out some of the pertinent details about this:"Semtech is a fabless supplier of analog and mixed signal semiconductor devices. The company has been diversifying the product portfolio, introducing new high-margin products and broadening the customer base. April quarter results exceeded both management and consensus expectations, and design win activity remains strong. Forward guidance is for a 3-5% increase in the July quarter. "We are very optimistic about this stock and believe the company is well on its way to staging a turnaround. We are upgrading SMTC shares to BUY."Orders are at healthy levels, and the backlog was up again in the last quarter. Further, previous management had the history of growing revenue without sacrificing margins, and the new management is expected to further improve the situation. Therefore, cash flow is likely to remain strong. We expect the shares to trade higher within the next six months. We are raising our target price to $22 and recommending investors to accumulate shares, as we expect continued improvement in results and more buoyant share prices."Read the analyst report on SMTC http://www.zacks.com/ZER/zer_comp_reports.php?f_ticker=SMTC&f_report_type=&f_bsh=&f_period=7&f_industry=
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