SMTC - Semtech Upgraded: Analyst Sees Underappreciated AI Optical Angle Benefits From China IoT Ban | Benzinga
Susquehanna analyst Christopher Rolland upgraded shares of Semtech Corporation (NASDAQ: SMTC) to Positive from Neutral and maintained the price target of $30.
The company reported street-beating performance in Q2, where net sales of $238.4 million increased 0.8% sequentially and 13.9% year-over-year.
Rolland thinks the stock has an underappreciated AI optical angle driven by analog PAM4, LDD, and TIA/driver.
The analyst adds that Congress is pushing for a China IoT module ban that is already benefiting Semtech market share gain. In ...