In a report released yesterday, Tristan Gerra from Robert W. Baird reiterated a Buy rating on Semtech, with a price target of $70.00.
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Tristan Gerra’s rating is based on several promising developments within Semtech’s operations. The company’s ongoing projects related to AI infrastructure and its LoRa business are progressing well, with LoRa expected to experience a growth trajectory exceeding 20% in 2026. This growth is supported by new applications in security and retail, which are emerging as significant market opportunities.
Additionally, Semtech’s strategic engagements with major U.S. hyperscalers for LPOs present a premium ASP opportunity, further enhancing its market position. The company’s design win with AEC and the anticipated market share leadership in ACC opportunities also contribute to the positive outlook. These factors collectively underpin Tristan Gerra’s Buy rating for Semtech, highlighting its potential for substantial growth and market expansion.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SMTC in relation to earlier this year.