Semtech price target raised to $91 from $90 at B. Riley

Core Viewpoint - B. Riley has raised the price target for Semtech (SMTC) to $91 from $90 while maintaining a Buy rating on the shares, indicating positive sentiment towards the company's performance and future prospects [1] Financial Performance - Semtech modestly exceeded Q3 expectations and provided Q4 guidance above consensus on revenue, suggesting a strong outlook for the upcoming quarter [1] - The company highlighted multiple signs of accelerating momentum in the Data Center segment, which is a positive indicator for growth [1] Market Dynamics - Despite facing mix-driven margin pressure and a lack of EPS upside that weighed on the stock, the broader market setup suggests continued growth recovery for Semtech [1]