Loading...
Loading...
In a research report published earlier today, Morgan Keegan has lowered its estimates for Semtech Corporation
SMTC, as the company has reported near-term softness. Morgan Keegan lowered Semtech's PT from $34 to $30.
Morgan Keegan said in the report, “We are lowering our FY13 estimate to $1.58/$463.8 million from $1.95/$618.1 million as we have excluded the Gennum acquisition from our estimate. As of its closing price of $28.14, shares of SMTC are currently trading at 17.8x straight and 14.7x ex-cash (cash per share of $4.91) our FY13 estimate of $1.58. Our thesis of superior execution and the return of the high growth optical business remains intact. We reiterate our Outperform rating, with a $30 price target.”
Semtech closed yesterday at $28.14.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in