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Fly News Breaks for August 30, 2018
SMTC
Aug 30, 2018 | 07:22 EDT
RBC Capital analyst Mitch Steves raised his price target on Semtech to $60 and kept his Outperform rating after its "beat and raise" quarter that featured operating margin expansion and "solid" protection business. The analyst notes that the company is on track to grow its revenues by double digits, particularly if LoRa technology continues to double, even though the M&A possibility that previously supported the stock is "more muted" at current levels.
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