Semtech price target raised to $42 from $35 at Stifel

Stifel raised the firm’s price target on Semtech (SMTC) to $42 from $35 and keeps a Buy rating on the shares. The firm believes Semtech could report in-line April quarter results and could guide July quarter revenue in-line with its estimates, with slight potential upside, the analyst tells investors in a preview. The firm is reiterating its belief that the business “could look materially different and significantly more profitable” in calendar year 2025, the analyst added.