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Fly News Breaks for May 14, 2019
SMTC
May 14, 2019 | 16:26 EDT
Wells Fargo analyst Gary Mobley started Semtech with an Outperform rating and $70 price target. Despite the "soft" start to fiscal 2020, Semtech offers high-single-digit percent revenue growth and low-double-digit percent earnings growth potential over the long term, Mobley tells investors in a research note. He sees a favorable risk/reward for the shares with "several" potential drivers of sales growth, including China stimulus efforts, continued growth in LoRa and earlier than expected 5G network builds.
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