Semtech price target lowered to $60 from $65 at UBS

UBS lowered the firm’s price target on Semtech (SMTC) to $60 from $65 and keeps a Buy rating on the shares. Semtech’s January quarter was right in line with expectations, as was April quarter guidance, better than feared after the company’s 8-K last month suggesting its Nvidia (NVDA) CTLE ramp was pushed out to Rubin, the analyst tells investors in a research note. The firm sees the risk-reward at current levels as “quite appealing.”