Semtech price target raised to $105 from $85 at UBS

UBS raised the firm’s price target on Semtech (SMTC) to $105 from $85 and keeps a Buy rating on the shares. Commentary from Semtech’s peer and supply chain during earnings supports a favorable setup, the analyst tells investors in a research note. The core picture in the data center looks very good while the analog/consumer segment results and systems actions could be an “X-factor,” UBS argues.