Roth Capital raised the firm’s price target on Semtech (SMTC) to $77 from $65 and keeps a Buy rating on the shares after its Q3 earnings beat. The company’s Q3 upside reflected continued strength in Data Center and LoRa, the analyst tells investors in a research note. Divesting non-core assets will also streamline operations and provide financial focus for Semtech, with 60% gross margins and about 25% EBITDA margins, the firm added.
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