Semtech Shares Surge on Buy Rating

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Semtech surges on AI data center role, UBS initiates with Buy on Nvidia content win

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Semtech (NASDAQ: SMTC ) shares surged more than 8% on Friday after UBS initiated coverage on the semiconductor firm.

Analyst: " Semtech is an analog company making inroads into AI data center networking thanks to a key content win for SMTC 's CopperEdge product in Nvidia 's Blackwell platform" UBS also set an $ 85 price target on the stock, which has rocketed about 300% over the past year .