SMTC is trading about 5% up today near $153.36, continuing a strong rally ahead of its first-quarter earnings report scheduled for May 26.
- The recent momentum was amplified after Susquehanna analyst Christopher Rolland reiterated a 'Positive' rating and raised the price target to $170 from $110 on May 20.
- Analysts are forecasting strong quarterly results, citing high demand for the company's AI-related data center products and a historical trend of the stock running up prior to earnings announcements.