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Fly News Breaks for June 21, 2018
SMTC
Jun 21, 2018 | 07:46 EDT
Needham analyst N. Quinn Bolton raised his price target on Semtech to $55 and kept his Buy rating after its analyst days, citing the management's upbeat outlook on the company's future growth drivers and its higher expected profitability for its operating model. Bolton says Semtech's LoRa business is on track to achieve the management's FY19 targets and become a "dominant LPWAN standard", while its Protection business is also seeing demand from an expanding set of customers.
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