Morgan Stanley raised the firm’s price target on Semtech (SMTC) to $89 from $85 and keeps an Equal Weight rating on the shares. The company reported a “solid quarter,” with strong data center execution and guidance pointing to continued momentum, the analyst tells investors.
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Read More on SMTC:
- Semtech: Accelerating Datacenter Growth and Balanced Copper-Optical Portfolio Underpin Buy Rating
- Semtech: Accelerating Data Center and AI Infrastructure Tailwinds Underpin Buy Rating
- Semtech sees Q1 adjusted EBITDA $59.5M +/- $3M
- Semtech Posts Record Quarterly Sales Amid Improved Margins
- Semtech sees Q1 EPS 42c-48c, consensus 43c