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Sectors

Sector Update: Tech Stocks Rise Premarket Monday

Technology stocks were rising premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) 1.3% higher and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 1.9%.Lumentum (LITE), Qualcomm Technologies (QCOM) and Corning (GLW) will showcase a high-density optical die-to-die interconnect for AI scale-up systems at ECOC 2026 in Malaga, Spain, Lumentum said. Lumentum Holdings shares were up more than 2%, Qualcomm stock was over 1% higher and Corning shares rose past 4% pre-bell.Meta Platforms' (META) Facebook and Instagram recovered after a brief outage that affected thousands of users in the US on Sunday night, according to outage-tracking website Downdetector.com. Meta Platforms shares were up more than 2% premarket.Semtech (SMTC) now has full production availability of its mobile transport portfolio of 50G optical transition products, enabling the latest 5G-advanced radio deployments, the company said. Semtech stock was up more than 3% pre-bell.

$GLW$LITE$META$QCOM$SMTC$XLK$XSD
Insider Trading

Semtech Insider Sold Shares Worth $277,420, According to a Recent SEC Filing

Hong Q Hou, Director, President, and CEO, on September 04, 2026, sold 2,000 shares in Semtech (SMTC) for $277,420. Following the Form 4 filing with the SEC, Hou has control over a total of 60,799 common shares of the company, with 60,799 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/88941/000115689926000031/xslF345X05/wk-form4_1788984094.xml

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Research

Northland Securities Upgrades Semtech to Outperform From Market Perform, $182 Price Target

Semtech (SMTC) has an average rating of overweight and mean price target of $205.62, according to analysts polled by FactSet.

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Wire

Semtech Could See Data Center Revenue Reach $200 Million Quarterly Run-Rate by Fiscal Q1 2028, UBS Says

Semtech (SMTC) could see its data center revenue reach a $200 million quarterly run-rate by fiscal Q1 2028, which should offset the revenue impact from the cellular module divestiture, UBS said in a Wednesday note.The company's fiscal Q3 guidance calls for a 45% quarter-on-quarter growth and a 160% growth over last year in data center revenue, UBS said, adding that it is modeling full-year 2027 data center revenue to grow about 120% year-on-year.Semtech's sale of the cellular module business is improving the company's gross margin profile by about 500 basis points, according to the note.The company's fiscal Q3 revenue guidance of $405 million to $415 million was above UBS' pre-earnings call estimate of $376 million. Meanwhile, gross margin expectation was 230 basis points ahead of UBS estimate, resulting in EPS range of $1.02 to $1.08, higher than UBS view of $0.76, the note said.UBS raised its price target to $230 from $225 and maintained its buy rating.Price: $137.84, Change: $+10.32, Percent Change: +8.09%

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Wire

UBS Adjusts Price Target on Semtech to $230 From $225, Keeps Buy Rating

Semtech (SMTC) has an average rating of overweight and mean price target of $205.62, according to analysts polled by FactSet.Price: $139.20, Change: $+11.68, Percent Change: +9.16%

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Insider Trading

Semtech Insider Sold Shares Worth $750,000, According to a Recent SEC Filing

Asaf Silberstein, Executive Vice President and COO, on August 17, 2026, sold 5,000 shares in Semtech (SMTC) for $750,000. Following the Form 4 filing with the SEC, Silberstein has control over a total of 88,862 common shares of the company, with 88,862 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/88941/000151495426000031/xslF345X05/wk-form4_1787169685.xml

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Insider Trading

Semtech Insider Sold Shares Worth $435,120, According to a Recent SEC Filing

Asaf Silberstein, Executive Vice President and COO, on July 14, 2026, sold 3,000 shares in Semtech (SMTC) for $435,120. Following the Form 4 filing with the SEC, Silberstein has control over a total of 93,862 common shares of the company, with 93,862 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/88941/000151495426000029/xslF345X05/wk-form4_1784232074.xml

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Insider Trading

Semtech Insider Sold Shares Worth $1,465,408, According to a Recent SEC Filing

Hong Q Hou, Director, President and CEO, on June 29, 2026, sold 9,605 shares in Semtech (SMTC) for $1,465,408. Following the Form 4 filing with the SEC, Hou has control over a total of 63,615 common shares of the company, with 63,615 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/88941/000115689926000023/xslF345X05/wk-form4_1782936251.xml

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Insider Trading

Semtech Insider Sold Shares Worth $935,000, According to a Recent SEC Filing

John Michael Wilson, Chief Quality Officer and CTO, on June 22, 2026, sold 5,500 shares in Semtech (SMTC) for $935,000. Following the Form 4 filing with the SEC, Wilson has control over a total of 80,876 common shares of the company, with 80,876 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/88941/000118992326000020/xslF345X05/wk-form4_1782331274.xml

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Insider Trading

Semtech Insider Sold Shares Worth $324,200, According to a Recent SEC Filing

Hong Q Hou, Director, President and CEO, on June 05, 2026, sold 2,000 shares in Semtech (SMTC) for $324,200. Following the Form 4 filing with the SEC, Hou has control over a total of 69,228 common shares of the company, with 69,228 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/88941/000115689926000018/xslF345X05/wk-form4_1781035314.xml

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Insider Trading

Semtech Insider Sold Shares Worth $881,758, According to a Recent SEC Filing

Ye Jane Li, Director, on May 28, 2026, sold 5,285 shares in Semtech (SMTC) for $881,758. Following the Form 4 filing with the SEC, Li has control over a total of 6,464 common shares of the company, with 729 shares held directly and 5,735 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/88941/000162828026039449/xslF345X05/wk-form4_1780344139.xml

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Wire

Semtech Sees Accelerating AI Optical Momentum Supporting Higher Growth Outlook, Morgan Stanley Says

Semtech (SMTC) is seeing accelerating momentum in its AI-driven optical business, Morgan Stanley said in a note Wednesday.The strong demand trend is supporting a higher fiscal 2027 data center growth outlook, the investment firm said.The company posted a strong quarter. Data center revenue reached a record $71.6 million, up 14% quarter on quarter and 39% year on year, the note said.Morgan Stanley highlighted that management commentary pointed to materially improved visibility, supported by strong bookings and backlog.The firm noted that while management previously guided to more than 50% fiscal 2027 data center growth, it now sees potential for the business to approach a doubling on a year-on-year basis. This compares with its prior estimate of around 60% growth.Semtech's LoRa business also remained strong. Revenue came in at $44.5 million, up 12% quarter on quarter and 14% year on year. Favorable supply-demand dynamics continue to support pricing, according to the note.Morgan Stanley kept its equal-weight rating on Semtech and raised the company's price target to $175 from $155.Price: $158.58, Change: $-5.88, Percent Change: -3.57%

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Research

Research Alert: CFRA Maintains Buy Opinion On Shares Of Semtech Corp.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target to $200 from $140, on a P/E of about 57x our CY 27 EPS, above peers and historical average to reflect growth prospects. We up our FY 27 EPS estimate to $2.45 from $2.20 and FY 28's to $3.49 from $2.90. After posting Apr-Q results and Jul-Q guide that exceeded our views, we believe that SMTC is capitalizing on the AI-driven data center buildout. SMTC's Active Copper Cables (ACC) are gaining traction as a low-power, low-latency alternative for short-reach connections, with its 1.6T CopperEdge ICs serving as a major growth driver, while Linear Pluggable Optics (LPO) revenue is expected to accelerate as hyperscalers adopt the technology for power savings. We believe SMTC's strong design win momentum and bookings for 1.6T optical transceivers, ramping in the second half, along with early development of 3.2T solutions, demonstrate its competitive positioning in next-generation data center infrastructure. We see upside from LoRa enabling Edge AI applications with higher data throughput.

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Research

Research Alert: Smtc: Beat And Raise; Emerging Optical Play

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:SMTC posted better-than-expected Apr-Q results, with revenue of $291.0M vs. $283.5M consensus, up 6% sequentially and 16% Y/Y. Non-GAAP adjusted operating margin expanded to 20.4% from 19.0% prior year, while adjusted diluted EPS surged 34% to $0.51, beating $0.45 consensus. Strong performance was driven by robust demand across the semiconductor portfolio, particularly within the Signal Integrity segment which generated $102.0M (+39% Y/Y) with 62.7% gross margin, benefiting from data center demand for next-generation optical interconnect technologies. Jul-Q guidance exceeded expectations, seeing revenue of $328.0M and adjusted diluted EPS of $0.61, representing approximately 13% sequential revenue growth and continued margin expansion to 21.9% adjusted operating margin, vs. consensus $301M/$0.51. We see upside as FiberEdge and CopperEdge 1.6T revenues will layer onto the existing growth base, with SMTC expecting data center growth to accelerate throughout the year.

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Research

Northland Downgrades Semtech to Market Perform From Outperform

Semtech (SMTC) has an average rating of overweight and mean price target of $134.29, according to analysts polled by FactSet.

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Wire

Semtech's AI Business Ramp Likely to Lift Fiscal Q1 Results, Oppenheimer Says

Semtech (SMTC) is likely to report "upside" to fiscal Q1 results and fiscal Q2 outlook as demand for its data center artificial intelligence business ramps up, Oppenheimer said in a report emailed Friday.The brokerage said ramping deployments of active copper cables and linear pluggable optics with large cloud service providers, including what it believes is a deployment by Alphabet's (GOOG, GOOGL) Google, are driving growth.Oppenheimer expects the ACC and LPO market to grow at a 90% compound annual growth rate through 2029, according to the report.Semtech's "Infrastructure" segment, which accounts for 33% of revenue, is expected to rise 9% sequentially and 29% year over year, supported by "FiberEdge" products and increasing AI data center demand, the report said. The firm also pointed to "accelerating" demand for LoRa products in Semtech's Industrial segment as "multiprotocol" capabilities expand use cases in robotics, drones and automation.Semtech has "identified a preferred buyer" for its SWIR cellular modules business, and a divestiture could immediately boost earnings per share and raise companywide gross margins to above 60% from just over 50%, Oppenheimer said.Oppenheimer reiterated an outperform rating on Semtech and raised its price target to $150 from $110.Price: $156.39, Change: $+9.86, Percent Change: +6.73%

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Research

Research Alert: CFRA Maintains Buy Opinion On Shares Of Semtech Corp.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target price to $140 from $100, on a higher revised P/E of about 48x our CY 2027 EPS of $2.90, which is above wireless peers and the range of analog peers to reflect our view of upside to consensus views and superior growth prospects over the next three years. We believe that SMTC is well positioned to capitalize on the AI infrastructure build-out, with data center revenue growing 58% in FY 26 and guided for over 50% in FY 27. The recent acquisition of HieFo Corporation, a manufacturer of Indium Phosphide lasers, is a pivotal move to vertically integrate and increase content in next-generation 1.6T and 3.2T optical modules, expanding the content opportunity from ~$8 in 800G modules to ~$80 in 3.2T modules. We are confident in SMTC's technology roadmap, highlighting imminent product ramps in Active Copper Cables and 1.6T optical solutions, which could drive $100M+ incremental revenue opportunity as hyperscalers transition to higher-speed architectures over the next two to three years.

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