Morgan Keegan Comments On Semtech's July Quarter

Morgan Keegan has published a research report on Semtech Corporation SMTC after the company reported July quarter results. In the report, Morgan Keegan writes, "SMTC reported July quarter results of $0.49/$130.3 million vs. consensus of $0.48/$129.3 million. A lower than expected tax rate benefitted the bottom line by $0.02. SMTC experienced growth across all end markets including record revenues in the Communication end market and 10% q/q growth in the Consumer end market." Morgan Keegan maintains its Outperform rating and $31 price target on Semtech Corporation, which clsoed yesterday at $20.40.