Needham Reiterates Buy Rating on Semtech Corp. (SMTC)

Needham analyst N. Quinn Bolton reiterated a Buy rating and $200.00 price target on Semtech Corp. (NASDAQ: SMTC).

The analyst comments "Semtech reported impressive F2Q27 results that came in above expectations while F3Q27 revenue guidance was also above Street estimates. The higher than expected revenue guide is driven by the ramp of Data Center and LoRa platforms. Our key takeaways include: 1) The increased guide is being driven by a strong contribution from 800G products and meaningful ramps in 1.6T CopperEdge and FiberEdge products; 2) GM is expected to see a significant uplift due to the Cellular Modules divestiture and product mix; 3) Photonics continues to be an opportunity as SMTC's customer base for gain chips and CW lasers is growing ; and, 4) LoRa is expected to grow 65% Y/Y in F3Q27 driven by adoption across verticals. Our PT remains $200, now based on 27.5x our new CY28 NG EPS estimate of $7.35."

For an analyst ratings summary and ratings history on Semtech Corp. click here. For more ratings news on Semtech Corp. click here.

Shares of Semtech Corp. closed at $127.52 yesterday.

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