Northland analyst Gus Richard raised the firm’s price target on Semtech (SMTC) to $53 from $48 and keeps an Outperform rating on the shares after Q2 non-GAAP earnings beat the firm’s estimate and consensus. The firm, which notes that Semtech guided non-GAAP EPS in line with consensus, has increased its own estimates “slightly” following the report.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMTC:
- Semtech price target raised to $65 from $55 at Piper Sandler
- Cautious Optimism for Semtech Amidst Challenges and Growth Opportunities
- Positive Outlook for Semtech Driven by Strong Product Performance and Emerging Opportunities
- Semtech Corporation Reports Strong Q2 FY2026 Results
- Semtech’s Strong AI Forecasts and Revenue Growth Drive Buy Rating