Semtech price target raised to $65 from $58 at Stifel

Stifel raised the firm’s price target on Semtech (SMTC) to $65 from $58 and keeps a Buy rating on the shares after the company reported a “solid” fiscal Q3 beat and “strong” fiscal Q4 outlook. New Active Copper Cable, or ACC, “Copper Edge” product began its production ramp for Nvidia’s (NVDA) Blackwell platform, while the company is seeing improving business trends in other segments, the analyst tells investors.