In a report released today, Quinn Bolton from Needham maintained a Buy rating on Semtech, with a price target of $80.00.
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Quinn Bolton has given his Buy rating due to a combination of factors including Semtech’s strong financial performance and promising future prospects. The company reported better-than-expected results for the third quarter of fiscal year 2026, with a notable increase in revenue driven by the growth of their Data Center platforms.
Looking ahead, Semtech is poised for accelerated revenue growth in fiscal year 2027, particularly in the data center segment, supported by opportunities in ACC/LPO and the anticipated ramp-up of 1.6T DSP-based modules. Additionally, the company’s strategic focus on divesting non-core assets and enhancing operational efficiencies further strengthens its growth outlook. These factors contribute to Bolton’s confidence in Semtech’s potential, justifying the Buy rating.
In another report released yesterday, Robert W. Baird also reiterated a Buy rating on the stock with a $88.00 price target.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SMTC in relation to earlier this year.