Semtech price target raised to $170 from $110 at Susquehanna

Susquehanna raised the firm’s price target on Semtech (SMTC) to $170 from $110 and keeps a Positive rating on the shares. The firm updated its model ahead of Q1 results where they generally expect slightly better results and guidance driven primarily by transceiver demand and their underlying components. For Signal Integrity, the overall demand backdrop continues to expand as hyperscalers further increase their investments in Cloud and AI.