Semtech Analysts Boost Their Forecasts After Q4 Results
Portfolio Pulse from Avi Kapoor
Semtech Corporation (NASDAQ:SMTC) reported a Q4 loss but saw its shares rise 6.6% after analysts upgraded their price targets. Despite missing earnings and sales estimates, the company's CEO remains optimistic about growth, particularly in the infrastructure market. Analysts from Needham, Susquehanna, Piper Sandler, Stifel, Baird, Craig-Hallum, and Northland Capital Markets raised their price targets on Semtech, citing positive outlooks.
April 01, 2024 | 6:59 pm
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Semtech reported a Q4 loss but saw a 6.6% share price increase after analysts raised price targets, reflecting optimism for growth.
Despite missing earnings and sales estimates, the positive adjustments in price targets by multiple analysts and optimistic comments from the CEO about growth prospects, particularly in the infrastructure market, have likely contributed to the positive investor sentiment and the subsequent rise in Semtech's stock price.
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IMPORTANCE 90
RELEVANCE 100