Morgan Stanley analyst Joseph Moore raised the firm’s price target on Semtech (SMTC) to $40 from $30 and keeps an Equal Weight rating on the shares. In addition to Nvidia (NVDA), several other “AI centric names” report this week, notes the analyst. The firm sees Semtech – which is reporting after market close on Tuesday, May 27 – having an attractive data center opportunity, but an uncertain second half across its broad portfolio.
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