Movement Alert｜Semtech Rises 5.06% in Pre-Market Trading, Multiple Analysts Raise Price Targets Following Q2 Earnings Beat

Market Focus08-27 20:59

On August 27, Semtech rose 5.06% in pre-market trading, trading at $147.8 per share, with turnover of approximately $6.95 million. The rally was driven by multiple investment banks collectively raising their price targets following the company's significant Q2 earnings beat.

Semtech reported fiscal Q2 non-GAAP EPS of $0.71, beating the consensus estimate of $0.57 by approximately 24.6%, representing a 73.2% year-over-year increase. Revenue came in at $341.9 million, up 33% year-over-year. UBS raised its price target on Semtech to $230 from $225 while maintaining a Buy rating. UBS projects data center revenue could reach a $200 million quarterly run-rate by fiscal Q1 2028, with Q3 guidance calling for 45% quarter-on-quarter growth in the segment. The company's Q3 revenue guidance of $405-$415 million significantly exceeded UBS's pre-earnings estimate of $376 million. Additionally, the $62 million divestiture of the cellular module business is expected to improve gross margins by approximately 500 basis points, as the company further focuses on data center and AI infrastructure growth.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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