Northland Upgrades Semtech Corp. (SMTC) to Outperform, 'Strong Print and Stronger Guide'
Northland analyst Gus Richard upgraded Semtech Corp. (NASDAQ: SMTC) from Market Perform to Outperform, PT $182.00.
THe analyst comments "We believe that connectivity is currently the AI bottleneck in terms of power and performance, benefiting SMTC as it gains market share in both copper and optical connectivity. Data Center revenue is now 30% of total revenue, and we expect it to reach 44% by the end of CY27. Data Center and LoRa revenue, along with the divestiture of the cellular module business, is driving GM into the mid 60%. We upgrade SMTC to OP with a PT of $182."
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Shares of Semtech Corp. closed at $140.80 yesterday.