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Semtech price target lowered to $55 from $70 at Craig-Hallum

Semtech price target lowered to $55 from $70 at Craig-Hallum

Craig-Hallum analyst Anthony Stoss lowered the firm’s price target on Semtech (SMTC) to $55 from $70 and keeps a Buy rating on the shares. The firm says Semtech’s strong fiber business is largely making up for the pause in ACC revenue until Nvidia’s (NVDA) Rubin product gets launched. Craig-Hallum believes Semtech will be on the board of Nvidia’s Rubin product, which likely announced by Nvidia next Tuesday, March 18th.

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