Semtech price target raised to $91 from $90 at B. Riley

SMTC +2.33%

B. Riley raised the firm’s price target on Semtech (SMTC) to $91 from $90 and keeps a Buy rating on the shares. Semtech modestly beat Q3 expectations, guided Q4 above consensus on revenue, and highlighted multiple signs of accelerating Data Center momentum, the analyst tells investors in a research note While mix-driven margin pressure and lack of EPS upside weighed on the stock, the broader setup points to continued growth recovery, the firm says.

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