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Fly News Breaks for April 17, 2019
SMTC
Apr 17, 2019 | 06:04 EDT
After meeting with management, Piper Jaffray analyst Harsh Kumar believes business conditions at Semtech are "picking up." The company's business bottomed in January, picked-up in February, and picked-up again in March and into early April, Kumar tells investors in a research note. While the pick-up is in the absence of a China trade deal, the analyst feels the improved business is being driven by positive sentiment about a trade deal. He reiterates an Overweight rating on Semtech with a $60 price target.
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