B. Riley analyst Craig Ellis raised the firm’s price target on Semtech to $61 from $58 and keeps a Buy rating on the shares post the Q2 report. The company’s earnings solidly exceeded consensus, with good margin, spending, and adjusted EBITDA quality versus expectations, which reflects well on new CEO Hong Hou’s first quarter, the analyst tells investors in a research note. The firm believes more visible quarter-over-quarter growth is gaining traction for Semtech and can accelerate in fiscal 2026. It views current share levels as an attractive entry point.
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