Latest Analyst Views on Coatue’s Favorite 33 AI Stocks

Page 7 of 33

27. Semtech Corporation (NASDAQ:SMTC)

Number of Hedge Fund Holders: 57

Stifel analyst Tore Svanberg recently lowered the price target on Semtech Corporation (NASDAQ:SMTC) to $35 from $54 and kept a Buy rating on the shares. SMTC develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. Tariff-impacts, including secondary and tertiary impacts, leave the advisory with an overarching view entering the Q1 earnings season for the Analog, Connectivity and Processors group to have generally in-line March quarter results, but softer June quarter outlooks. Regardless of where tariffs eventually shake out in magnitude, duration and breadth, the advisory believes the likelihood of the overall semiconductor industry tipping over into a cyclical downturn has increased materially, the analyst added in a preview note.

Page 7 of 33