Needham keeps a Buy rating and $54 price target on Semtech (SMTC) after its “solid” Q1 results driven by data center related infrastructure shipments and LoRa-enabled solutions. Demand for data center related products remains robust as the company reported a record quarter, while the momentum in Data Center is expected to carry through the second half of FY26, driven by continued strength in FiberEdge and non-NVIDIA (NVDA) CopperEdge and LPO ramps, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMTC:
- Semtech price target raised to $43 from $40 at Morgan Stanley
- Semtech’s Strong Q1 Performance and Growth Prospects Justify Buy Rating with $54 Price Target
- Semtech price target raised to $45 from $42 at Stifel
- Semtech Corporation Reports Strong Q1 2026 Growth
- Closing Bell Movers: Okta slips 12% despite earnings beat
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue