Stifel lowered the firm’s price target on Semtech (SMTC) to $54 from $60 and keeps a Buy rating on the shares. A product approach to align the company’s R&D and capital expenditures to support core products and high-growth end markets positions Semtech for continued share gains in the coming quarters, says the analyst, who lowered the firm’s 12-month price target to reflect lower comps following the company’s “solid” fiscal Q4 results.
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