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Fly News Breaks for August 30, 2018
SMTC
Aug 30, 2018 | 06:40 EDT
Loop Capital analyst Cody Acree kept his Buy rating and $60 price target on Semtech after its Q2 results and also raised FY18 EPS view to $2.21 from $2.19, saying the company produced a "solid" quarter with sequential growth in all major markets and upside in all metrics. The analyst further notes that Semtech's LoRa technology continues to grow with " increased customer and application diversity in its Protection business", adding that nearly all of the company's high-growth businesses also offer positive incremental gross margins.
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