Benchmark raises Semtech stock price target on HieFo acquisition

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Iran conflict latest: Hegseth says Iran conflict has "only just begun" Gold prices recover after hefty drop; dollar slips lower Oil reverses course, edges lower as strong economic data counters supply worries Morgan Stanley explains why gold is falling despite Iran escalation (South Africa Philippines Nigeria) Benchmark raises Semtech stock price target on HieFo acquisition By Analyst Ratings Published 03/04/2026, 10:27 AM Benchmark raises Semtech stock price target on HieFo acquisition 0 SMTC 1.94% Investing.com - Benchmark raised its price target on Semtech Corp. (NASDAQ:SMTC) to $115 from $85 on Tuesday while maintaining a Buy rating. The stock currently trades at $92.89, having delivered a remarkable 150% return over the past year and trading just below its 52-week high of $96.46. The move follows Semtech ’s completion of its acquisition of HieFo, a U.S.-based Indium Phosphide optical chip maker that previously operated as EMCORE’s chip and wafer fabrication business. Semtech expects the transaction to be accretive within the first year. The company anticipates limited impact to operating expenses, manageable capital expenditure requirements, and near-term revenue opportunities from HieFo. Initial revenue contribution is expected to be modest, with first material revenue anticipated beginning in the second half of this year. According to InvestingPro analysis, which shows the stock is currently overvalued relative to its Fair Value, net income is expected to grow this year. Investors can access comprehensive analysis including 15 additional ProTips and detailed financial health scores on the platform. The revenue will primarily come from inherited gain-chip contracts supporting Cisco and Ciena metro backhaul deployments. Benchmark views the acquisition as a vertically integrative move that strengthens Semtech’s optical platform. The acquisition positions Semtech ahead of the industry’s transition to 1.6T ...