BMO Capital initiated coverage of Semtech Corporation with an Outperform rating.
The firm established a $155 price target for the stock.
Analysts expect Semtech to gain networking market share as hyperscalers expand AI infrastructure.
BlackRock Inc. disclosed a new ownership position in the company during the second quarter.
The asset manager purchased approximately 9.75 million shares.
This investment is valued at roughly $1.58 billion.
BlackRock now holds a 10.47% ownership stake in the semiconductor manufacturer.