Needham raised the firm’s price target on Semtech to $50 from $38 and keeps a Buy rating on the shares. The analyst cites the company’s “strong” Q1 earnings beat and revenue guidance raise while reiterating its FY26 Active Copper Cable, or ACC, total addressable market opportunity. Semtech investors are comfortable waiting for the cellular modular and telecom related businesses to rebound while the various Data Center opportunities continue to show strength, the firm tells investors in a research note.
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