Piper Sandler analyst Harsh Kumar raised the firm’s price target on Semtech (SMTC) to $65 from $55 and keeps an Overweight rating on the shares. The firm notes the company reported a solid beat and raise quarter for July and October respectively. At the current juncture, Semtech is benefiting significantly from strength in its FiberEdge business for which the air pocket around ACC continues. All in all, Piper is impressed with management’s execution and feels that the company is set for fundamental upside in 2026.
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