Oppenheimer analyst Rick Schafer upgraded Semtech (SMTC) to Outperform from Perform with an $81 price target after hosting management for meetings. Semtech CEO Hong Hou had a bullish tone and detailed growth opportunities led by active copper cable and linear pluggable optics for data center artificial intelligence, the analyst tells investors in a research note. The firm says the company also highlighted increased LoRa adoption amid expanded use to “greenfield growth vectors” including drones, robotics, and automation.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMTC:
- Semtech’s Promising Growth: AI, LoRa Expansion, and Strategic Partnerships Drive Buy Rating
- Semtech management to meet with Oppenheimer
- Semtech launches 2.5G FTTR fhipset for next-generation PON networks
- Semtech management to meet virtually with Benchmark
- Semtech Corp. Reports Strong Earnings and Growth