Stifel lowered the firm’s price target on Semtech to $22 from $24 and keeps a Buy rating on the shares. The company reported a “slight” fiscal Q3 beat, but gave a lower Q4 outlook than expected as it is contemplating continued channel inventory digestion, softer consumer seasonality and a slight pause in AI-driven datacenter revenue following several quarters of strong growth, the analyst tells investors.
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- Semtech price target lowered to $24 from $26 at Stifel
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