Top 10 AI News Updates Trending on Wall Street

6. Semtech Corporation (NASDAQ:SMTC)

Number of Hedge Fund Holders: 32

Semtech Corporation (NASDAQ:SMTC) designs, develops, manufactures, and markets analog and mixed-signal semiconductors and advanced algorithms. It is one of the companies pivoting to artificial intelligence as a growth driver. Likewise, its CopperEdge product has been integrated into Nvidia’s Blackwell platform due to its ability to reduce noise and lower costs and power.

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.

According to the company’s forecast, CopperEdge’s revenue for the fiscal year 2026 will fall short of the $50 million minimum that was previously anticipated. Semtech has stated that they do not expect a surge in sales over the next 12 months or so because of modifications to rack architectures and recent feedback from a particular server rack customer.