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Fly News Breaks for May 20, 2015
SMTC
May 20, 2015 | 07:30 EDT
Stephens thinks Semtech's April quarter earnings and July quarter guidance may be a "little light" of consensus, but the firm thinks a miss is already priced in and that the stock's recent pullback has been too severe compared to peers and the PHLX Semiconductor Index. The firm believes Semtech is positioned to resume top-line growth later in the year and reiterates its Overweight rating and $32 price target on the stock.
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