Semtech price target raised to $43 from $40 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the firm’s price target on Semtech (SMTC) to $43 from $40 and keeps an Equal Weight rating on the shares. Semtech posted “a solid quarter and outlook,” with numbers that were broadly in line with expectations, and seems to be tracking to growth from active copper cables and linear optics later this year, the analyst tells investors in a post-earnings note.