Loop Capital analyst Cody Acree initiated Semtech with a Buy rating and $60 price target, touting its diversification for a company of its size. Acree was also positive on the company's steadily growing revenue, a trend the analyst expects to continue or accelerate in the next few years.
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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%.