Stifel analyst Tore Svanberg raised the firm’s price target on Semtech (SMTC) to $98 from $90 and keeps a Buy rating on the shares. Q4 results were “another notch in the right direction” as Semtech continues to position itself towards favorable long-term secular trends, while simultaneously continuing its balance sheet improvement, the analyst tells investors.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
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 $89 from $85 at Morgan Stanley
- 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