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Semtech a Buy Up to $15
Semtech Corporation (SMTC - Analyst Report) is a fabless supplier of analog and mixed signal semiconductor devices. Management has been diversifying the product portfolio, introducing new high-margin products and broadening the customer base.
October quarter revenue was in-line with consensus estimates, while the EPS exceeded. Forward guidance is for a -8% top -20% revenue decline in the January quarter.
Both revenue growth and margin expansion are expected to materialize when the new product platforms gain traction. We are reiterating our BUY rating on SMTC shares.
Sejuti Banerjea contributed to this report.
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| Market Summary | Nov 26, 2009 11:03 am ET |
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