Semtech price target raised to $105 from $80 at Craig-Hallum

Craig-Hallum analyst Anthony Stoss raised the firm’s price target on Semtech (SMTC) to $105 from $80 and keeps a Buy rating on the shares. The firm believes investors should own Semtech ahead of stronger data center growth as LPO/TIA and ACC ramps begin to take shape. Management is calling for total data center revenues to grow 50%-plus in FY27. Further, Craig-Hallum highlights Semtech began initial shipments of their LPO product and expect initial 1.6T ACC shipments during the April quarter.