Needham lowered the firm’s price target on Semtech (SMTC) to $54 from $74 and keeps a Buy rating on the shares. The firm cites the company’s 8-K reducing its FY26 active copper cable – ACC – single- use-case total addressable market as it now expects net sales in FY26 from its CopperEdge products used in 1.6T ACCs to be lower than its previously disclosed floor case estimate of $50M, the analyst tells investors in a research note. The management expects to generate revenue from CopperEdge linear equalizers in FY26 and beyond, and the firm is taking this opportunity to pull all CopperEdge revenue out of its model, Needham adds.
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 $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
- Semtech dropped 27% Friday night after disclosing sales miss