Semtech price target raised to $75 from $60 at Piper Sandler

Piper Sandler analyst Harsh Kumar raised the firm’s price target on Semtech (SMTC) to $75 from $60 and keeps an Overweight rating on the shares. The firm notes the company exceeded Street expectations on its Q3 results and January guidance. Trends continue to point to strong upticks in revenues driven primarily by the data center product portfolio, Piper adds.