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Fly News Breaks for October 3, 2019
SMTC
Oct 3, 2019 | 08:52 EDT
After hosting meetings with Semtech management, Stifel analyst Tore Svanberg noted that the company's commentary was relatively unchanged since the July quarter earnings and he believes 2020 growth targets look achievable given that he thinks LoRa growth is likely to re-accelerate as use cases proliferate into smart home and consumer products. The analyst, who believes Semtech shares have likely bottomed, keeps a Buy rating on the stock and raised his price target for shares to $57 from $55.
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