Morgan Stanley raised its 12-month price target for Semtech Corporation (SMTC) to $155 from $89. This adjustment represents a 74% increase. The firm maintained its Equal-Weight rating on the semiconductor stock.
The new target remains below the May 26 trading price of approximately $165.70. Stifel, Oppenheimer, Susquehanna, and UBS also increased their price targets during the previous week. These analysts cite AI-driven spending and data center demand as primary growth catalysts.