B. Riley raised the firm’s price target on Semtech (SMTC) to $91 from $90 and keeps a Buy rating on the shares. Semtech modestly beat Q3 expectations, guided Q4 above consensus on revenue, and highlighted multiple signs of accelerating Data Center momentum, the analyst tells investors in a research note While mix-driven margin pressure and lack of EPS upside weighed on the stock, the broader setup points to continued growth recovery, the firm says.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMTC:
- Semtech price target raised to $77 from $65 at Roth Capital
- Semtech price target raised to $67 from $64 at Morgan Stanley
- 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