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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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