Craig-Hallum Raises PT on Semtech (SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) is one of the Best Semiconductor Stocks to Invest In Now. On March 17, Craig-Hallum analyst Anthony Stoss lifted the firm’s price objective on the company’s stock to $105 from $80, while keeping a “Buy” rating, as reported by The Fly.

Craig-Hallum Raises PT on Semtech (SMTC) Stock

As per the firm, investors can consider owning the company’s stock ahead of healthier data center growth, with LPO/TIA (Linear Pluggable Optics/Transimpedance Amplifier) and ACC (Active Copper Cable) ramps beginning to take shape.

Furthermore, the firm noted that Semtech Corporation (NASDAQ:SMTC) started initial shipments of LPO product and anticipates the initial 1.6T ACC shipments during the quarter ended April. It also noted that the management expects total data center revenues to grow over 50% in FY 2027.

In a separate release, Semtech Corporation (NASDAQ:SMTC) announced the acquisition of HieFo Corporation. This addition to the company’s portfolio of semiconductor solutions strengthens the US technology supply chains. Also, it adds new capacity as well as resiliency at a critical point in the broader AI infrastructure buildout.

While we acknowledge the risk and potential of SMTC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SMTC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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