Morgan Stanley raised the firm’s price target on Semtech (SMTC) to $67 from $64 and keeps an Equal Weight rating on the shares following what the firm describes as a “solid quarter with improving data center visibility.” While near-term margin pressure from non-core mix persists, the balance sheet reset and divestiture progress position the company to focus on higher-growth, higher-margin assets, the analyst added.
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Read More on SMTC:
- Semtech price target raised to $85 from $76 at Benchmark
- Semtech price target raised to $88 from $70 at Baird
- Semtech’s Growth Potential and Strategic Positioning Highlighted in Buy Rating with Raised Price Target
- Semtech price target raised to $70 from $65 at Piper Sandler
- Semtech upgraded to Buy from Hold at Summit Insights