Craig-Hallum raised the firm’s price target on Semtech (SMTC) to $62 from $55 and keeps a Buy rating on the shares. The firm believes Semtech is well positioned in the AI data center market with fiber and ACC and thinks investors should be picking spots and building positions in Semtech. Craig-Hallum further believes the company is positioned for material growth moving forward with upcoming LPO/TIA ramps, ACC ramps, and the Nvidia (NVDA) Rubin product launch late next year.
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