BWS Financial analyst Hamed Khorsand raised his price target on Semtech to $70 from $49 following the company's investor day, noting that the company is forecasting growth in all of its business segments. LoRa, which got most of the attention at the event, could become a significantly larger revenue source for Semtech over the next couple of years, said Khorsand, who keeps a Buy rating on the stock.
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Pre-earnings options volume in Semtech is 2.8x normal with calls leading puts 19:6. Implied volatility suggests the market is anticipating a move near 14.3%, or $3.90, after results are released. Median move over the past eight quarters is 7.5%.