Movement Alert｜Semtech Rises 6.23% in Regular Trading, Multiple Analysts Raise Price Targets Following Q2 Earnings Beat

Market Focus08-27 21:33

On August 27, Semtech rose 6.23% in regular trading, trading at 147.37 USD/share, with Turnover of $51.67 million. The rally was driven by multiple investment banks raising their price targets following the company's Q2 earnings that significantly exceeded expectations.

Specifically, UBS raised its price target on Semtech from $225 to $230, maintaining a Buy rating, projecting data center quarterly revenue could reach $200 million by fiscal Q1 2028. The company reported Q2 non-GAAP EPS of $0.71, beating the consensus estimate of $0.57 by 24.6%, with revenue of $341.9 million representing 33% year-over-year growth. Q3 revenue guidance of $405-$415 million far exceeded UBS's prior estimate of $376 million.

Additionally, Semtech's agreement to sell its cellular module business for $62 million in cash is expected to improve gross margins by approximately 500 basis points, allowing the company to further concentrate on high-growth data center and AI infrastructure opportunities.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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