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."

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Shares of Semtech Corp. closed at $144.21 yesterday.