Stifel raised the firm’s price target on Semtech (SMTC) to $54 from $45 and keeps a Buy rating on the shares. The inventory correction in the broader semiconductor industry over the past two years appears to have bottomed and a cyclical recovery is now likely underway, but the pace of the recovery remains uncertain, the analyst tells investors in an earnings preview for the group. The firm continues to recommend an Overweight position in AI-related semiconductor stocks, noting that its covered group of AI-focused companies is expected to deliver median revenue growth of 32% in 2025 and 17% in 2026.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMTC:
- Semtech, Keysight, LTC, Monolithic, Foot Locker: Insider Moves Unveiled!
- Semtech management to meet with Piper Sandler
- Serve Robotics, Elastic, Semtech, Keysight, Asana: Stock Sales Unveiled
- Verizon announces Semtech as ‘Verizon Frontline Verified’ partner
- Sector Spotlight: Nvidia results highlight notable week for semiconductors