Aug. 24 at 3:30 PM
$SMTC Semtech price target raised to
$190 from
$102 at Roth Capital
Roth Capital analyst Scott Searle raised the firm's price target on Semtech to
$190 from
$102 and keeps a Buy rating on the shares. The firm expects Semtech to meet or beat Q2 expectations, adjusting for modules, largely benefitting from continued data center strength. However, there could be some confusion around guidance given the recent divestiture of cellular modules, which removes at least
$40M of quarterly sales along with positive EBITDA and EPS, the analyst tells investors in a research note. The firm added that it expects the sequential sales outlook to be in-line to better versus its current model adjusted for the cellular module divestiture.
