Robert W. Baird analyst Tristan Gerra has reiterated their bullish stance on SMTC stock, giving a Buy rating yesterday.
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Tristan Gerra has given his Buy rating due to a combination of factors including Semtech’s strong AI-related forecasts and robust bookings for FiberEdge since the beginning of the quarter. The company is seeing accelerated AI-related orders from China and has significant engagements with U.S.-based hyperscalers for LPOs, which are expected to contribute to revenue in 2026.
Additionally, Semtech’s LoRa revenue has recovered, with an increased quarterly run rate expectation and a projected CAGR of 15-20%. The company’s financial performance is also strong, with F2Q26 revenue and gross margin slightly exceeding the guidance midpoint, further supporting the positive outlook for Semtech’s stock.
According to TipRanks, Gerra is a 5-star analyst with an average return of 9.7% and a 54.60% success rate. Gerra covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Intel, and Micron.