Semtech price target raised to $105 from $85 at TD Cowen

TD Cowen analyst Sean O’Loughlin raised the firm’s price target on Semtech (SMTC) to $105 from $85 and keeps a Buy rating on the shares as part of an earnings preview. The firm says AI infrastructure investment and expectations continue to move higher. This should support semiconductor estimates in 2026 and 2027 but share valuations have come in, the analyst tells investors in a research note. TD believes this presents an opportunity. It remains constructive on the compute and networking group.