Northland upgrades Semtech stock rating on data center growth
Northland upgraded Semtech Corp. (NASDAQ:SMTC) to an Outperform rating from Market Perform, citing strong data center growth and a price target of $182.00. The semiconductor company's AI connectivity positioning is driving its revenue growth, with data center revenue now accounting for 30% of total revenue, expected to reach 44% by the end of 2027. Analysts anticipate continued sales growth in the current year, though the stock is currently considered overvalued relative to its Fair Value.
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