Oppenheimer analyst Rick Schafer upgraded Semtech (SMTC) to Outperform from Perform with an $81 price target after hosting management for meetings. Semtech CEO Hong Hou had a bullish tone and detailed growth opportunities led by active copper cable and linear pluggable optics for data center artificial intelligence, the analyst tells investors in a research note. The firm says the company also highlighted increased LoRa adoption amid expanded use to “greenfield growth vectors” including drones, robotics, and automation.
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