Semtech Upgraded: Analyst Sees Underappreciated AI Optical Angle, Benefits From China IoT Ban
Portfolio Pulse from Nabaparna Bhattacharya
Semtech Corporation (SMTC) has been upgraded to Positive from Neutral by Susquehanna analyst Christopher Rolland, who maintained a price target of $30. The company's Q2 net sales increased 0.8% sequentially and 13.9% YoY. Rolland believes the stock has an underappreciated AI optical angle and is benefiting from a potential China IoT module ban. He also suggests a turnaround plan for the stock, including cost-cutting, reinvestment in high ROI products, and deleveraging through asset sales. Rolland also mentioned that Apple Inc (AAPL) wins should benefit proximity/protection.
September 14, 2023 | 5:42 pm
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POSITIVE IMPACT
Apple Inc wins should benefit proximity/protection, according to Susquehanna analyst Christopher Rolland.
The statement by Susquehanna analyst Christopher Rolland that Apple Inc wins should benefit proximity/protection could have a positive impact on Apple's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Semtech Corporation has been upgraded by Susquehanna, with a maintained price target of $30. The company is benefiting from a potential China IoT module ban and has a suggested turnaround plan.
The upgrade by Susquehanna, along with the potential benefits from a China IoT module ban and a suggested turnaround plan, are likely to positively impact Semtech's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100