Semtech reported a Q4 loss of 6 cents per share and lower sales than estimated, but CEO noted growing semiconductor demand; analysts raised price targets for the company.
Semtech reported a Q4 loss of 6 cents per share, lower than market estimates for 3 cents, and $192.95M in quarterly sales, below expectations of $196.46M. Despite this, Semtech's CEO noted growing demand for their semiconductor business. Following the earnings announcement, Needham raised their price target to $38, Northland Securities increased to $36.50, Susquehanna to $45, Robert W. Baird to $50, and Stifel to $36.50.
April 01, 2024
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