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Fly News Breaks for July 16, 2015
SMTC
Jul 16, 2015 | 08:53 EDT
Stephens said it views Semtech's (SMTC) decision to reduce its workforce by about 8% is a step in the right direction given current growth challenges, which the firm attributes to slow demand from Samsung (SSNLF). Stephens sees the right-sizing efforts should drive leverage as top-line growth resumes and reiterates its Overweight rating and $32 price target on Semtech shares.
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