Northland raised the firm’s price target on Semtech to $30 from $25 and keeps an Outperform rating on the shares. While the acquisition of Sierra Wireless was “a bad deal” and LoRa is “not the panacea it was made out to be,” there is new management at Semtech that is executing a turnaround, says the analyst, who thinks Semtech has significant design win momentum in AI servers used in hyperscale data centers.
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