Stifel analyst Tore Svanberg raised the firm’s price target on Semtech (SMTC) to $58 from $50 and keeps a Buy rating on the shares ahead of the company’s Q3 earnings report. The firm expects in-line October quarter results with bias to the upside, contemplating the following end market expectations: infrastructure to increase sequentially, high-end consumer revenue to increase quarter-on-quarter, and; industrial to be slightly quarter-on-quarter. Stifel believes Semtech could guide January revenues in-line with consensus and above its own estimates, based on recent commentary from other industry participants as well as positive commentary from company management.
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Read More on SMTC:
- Semtech price target raised to $60 from $55 at Susquehanna
- Semtech management to meet virtually with Benchmark
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
