Smtc stock forecast revenue diversification into automotive

Revenue diversification into automotive electronics is influencing bullish angles in SMTC stock forecast, potentially reducing cyclical volatility typical in semiconductor plays. On the other hand, analysts at Stifel reiterated a Buy rating on the stock on February 10th but cut their price target to $70 from $75. The price cut comes on Semtech Corporation (NASDAQ:SMTC) predicting lower-than-expected revenue from its CopperEdge products, which are mostly used in data centre and artificial intelligence applications for active copper cables. Onsemi primarily makes chips for auto and industrial markets . These markets have been working through an inventory glut, causing Onsemi to see negative revenue growth for six quarters in a row. Long-horizon projections in SMTC stock forecast point to a sustainable growth trajectory, supported by rising R&D allocations and improved market penetration.