B. Riley raised the firm’s price target on Semtech (SMTC) to $115 from $91 and keeps a Buy rating on the shares. Moderate upside is expected for Q4 results and 1Q27 guidance as Data Center activity accelerates, customer LPO programs ramp, and 800G TIA adoption boosts sales, with AI revenue potentially rising 50%+ through CY26, the analyst tells investors in a research note.
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