StoneX Reiterates Buy Rating on Semtech Corp. (SMTC)

StoneX analyst Cody Acree reiterated a Buy rating and $230.00 price target on Semtech Corp. (NASDAQ: SMTC).

The analyst commented, "Thursday's selloff reflects a growth-expectations reset, in our view. SMTC fell as much as 16.6% intraday & closed down 10.0% while investors digested the Analyst Day. We believe the implied FY29/FY30 slowdown, limited CopperEdge detail and skeptical AI trading environment drove the disappointment. We view the partial 2.1% after-hours rebound as consistent with a more measured assessment of the outlook. We reiterate our Buy rating and our $230 price target."

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 $144.21 yesterday.

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