Piper Sandler lowered the firm’s price target on Semtech (SMTC) to $55 from $75 and keeps an Overweight rating on the shares. The firm is also reducing estimates on Semtech for the current January 2025 quarter as well as for all of 2026 ended January. The primary reason for its estimate reduction is due to the 8K filing by the company suggesting a change of rack architecture at Nvidia (NVDA), which as a result, reduces its forecast around Semtech’s active copper cable opportunity.
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