B. Riley lowered the firm’s price target on Semtech (SMTC) to $68 from $85 and keeps a Buy rating on the shares. The company Friday night guide down on fiscal 2026’s CopperEdge opportunity, likely triggered by an Nvidia (NVDA) driven architecture shift away from NVL36x2 configurations where Semtech was designed-in to single-rack NVL72 configs, the analyst tells investors in a research note. Riley now recognizes Semtech’s near-term Nvidia server rack opportunities are “eroded,” which it views as “disappointing.” However, the firm does not believe artificial intelligence-related revenue potential is erased for Semtech, as it suspects some investors might fear. The company’s intermediate to longer-term AI opportunity “remains a powerful revenue growth driver,” contends Riley.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMTC:
- Semtech price target lowered to $54 from $74 at Needham
- Semtech price target lowered to $70 from $75 at Stifel
- Semtech price target lowered to $55 from $75 at Piper Sandler
- Cautious Optimism for Semtech: Buy Recommendation with Adjusted Price Target
- 3 Best Stocks to Buy Now, 2/10/2025, According to Top Analysts