Benchmark Reiterates Buy Rating on Semtech Corp. (SMTC)

Benchmark analyst Cody Acree reiterated a Buy rating and $68.00 price target on Semtech Corp. (NASDAQ: SMTC).

The analyst commented, "Although Semtech’s shares are off marginally in the pre-market, we believe the company posted a solid April quarter and gave an equally encouraging outlook, with the relatively modest upside versus the consensus, and a small expected sequential mix-driven margin contraction one of the few points of contention. For its Q2, SMTC posted revenue and EPS of $251.1M & $0.38, respectively, which was $1 million and one penny ahead of the consensus. For its outlook, the company is guiding to Q2 sales & EPS of $256M & $0.40, again about a million and a penny better than the Street view."

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 $37.01 yesterday.

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