Semtech price target lowered to $37 from $40 at Stifel

Stifel lowered the firm’s price target on Semtech to $37 from $40 and keeps a Buy rating on the shares. While the company reported a slight beat in its Q4 results, its Q1 outlook was a big miss driven by China and Consumer weakness, the analyst tells investors. While the stock may lack near term catalysts, Stifel believers the business will look "materially different and significantly more profitable" in 12 to 18 months.