Semtech price target raised to $82 from $56 at Benchmark

Benchmark raised the firm’s price target on Semtech (SMTC) to $82 from $56 and keeps a Buy rating on the shares following “solid” fiscal Q3 earnings and guidance. Semtech is forecasting Q4 sales that “handily beat the Street consensus by $9 million,” and its Q4 EPS projection of 32c “also nicely beat the Street’s estimate” by 6c, the analyst tells investors.