Semtech price target raised to $36.50 from $30 at Northland

Northland analyst Gus Richard raised the firm’s price target on Semtech to $36.50 from $30 and keeps an Outperform rating on the shares. Semtech is seeing strong demand for its data center connectivity and PON products and the firm believes a spinoff of Signal Integrate would unlock significant shareholder value, the analyst tells investors in a research note.