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Fly News Breaks for December 1, 2016
SMTC
Dec 1, 2016 | 06:19 EDT
Oppenheimer analyst Rick Schafer upgraded Semtec to Outperform with a $36 price target following the Q3 beat and guidance. The analyst said Semtec's legacy business has stabilized, allowing greenfield optical and LoRa opportunities to drive growth. At the same time, Semtec has lowered leverage below 2x, which could drive strategic M&A and risk/reward appears favorable, the analyst wrote.
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