Semtech price target raised to $45 from $42 at Stifel

Stifel raised the firm’s price target on Semtech (SMTC) to $45 from $42 and keeps a Buy rating on the shares. Semtech reported in-line April quarter results and gave an in-line July quarter outlook, the firm noted. Despite the near-term ACC business “air pocket,” Semtech’s next-gen CopperEdge ACC products continue to generate significant interest and infrastructure momentum continues, together with improving profitability, the analyst tells investors in a post-earnings note.