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Semtech Corp (SMTC) stock

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NASDAQ: SMTC Nasdaq Semiconductors Next results ~November 23, 2026

C Fundamentals grade

Semtech Corp is a US-listed company in the semiconductors industry. Its financial year ends in January.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 56% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 56% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Semtech Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Semtech files

Where Semtech stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $1.09bn, up 14.2% on a year earlier, slower than 15.5% a quarter earlier. Free-cash-flow margin rose to 15.9% from 8.1% a year earlier. Operating margin narrowed to 2.1% from 8.7%. The diluted share count is up 16.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 6 financial-health checks.

Our model value for Semtech is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 26, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 23, 2026 (estimated)

Semtech Corp's trailing-twelve-month revenue grew 14.2% year on year, with a free-cash-flow margin of 15.9%. Where it lags: change in share count of 16.2% ranks 65 of 72 semiconductor companies we cover.

Our discounted-cash-flow model values the business at ~$33 per share in the base case (~$24–$44 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 122.9% while net income grew 72.2%: a 51pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 70.2% over 90 days.

Things to watch

  • Margins narrowing. Operating margin is down 6.6 points on a year ago.
  • Share dilution. Diluted shares rose 16.2% in a year.
  • High sales multiple. The shares trade at 10 times revenue while operating margins remain thin.
  • Volatile shares. Over the past year the shares showed annualised volatility of 80% and a beta of 3.2 against the S&P 500.
  • Insiders selling. 12 insiders sold $19M of stock over the past 365 days and none bought (63% under pre-set trading plans).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 34.2% ranks 39 of 47 semiconductor companies we cover (median 14.0%).

Latest results: FY2027 Q1

Filed May 27, 2026
Earnings per share
$0.71 against an average estimate of $0.61: beat by 15.6%
Revenue
$291m, up 15.9% on a year earlier
Share reaction
+16.5% in the first session after the results on August 25, 2026, against +0.3% for the S&P 500
Guidance given
net sales $410m (Third Quarter of Fiscal Year 2027); adjusted gross margin 58.3% (Third Quarter of Fiscal Year 2027)
Next report
November 23, 2026; average EPS estimate $1.13

Semtech's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.8%
  • 1 week-12.0%
  • 1 month-34.8%
  • This year+66.1%
  • 1 year+88.8%
  • 5 years+39.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.1B
Operating margin
2.1%
Net margin
-3.0%
EPS (TTM, diluted)
$-0.37

Growth

Revenue growth
+14.2%
Change in growth rate
−1.3 pts
Share count change
+16.2%

Cash

Free cash flow (TTM)
$173M
FCF margin
15.9%
Stock pay % of revenue
7.1%

Earnings

Last results
August 25, 2026
Next results (est.)
November 23, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Results
  4. Guidance
  5. Announcement
  6. Insider trade
  7. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Semtech Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 56% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Semtech Corp as an operating company, with every model that fits that kind of business. Cost of equity 13.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.92 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$100 ~$94–$170 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$0.6 ~$0.4–$1.0 Left out: out of range vs price (0.01x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Semtech Corp with Semiconductors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$20.10$33.70$36.45$49.77$52.52$70.95$67.83$33.15$20.59$73.02$80.52$122.38
Market value$1.3bn$2.2bn$2.5bn$3.4bn$3.5bn$4.7bn$4.4bn$2.1bn$1.3bn$5.2bn$7.1bn$11.1bn
+ Net debt (− = net cash)−$212m−$297m−$308m−$312m−$293m−$269m−$280m−$236m−$129m−$152m−$195m$340m
Enterprise value$1.1bn$1.9bn$2.2bn$3.1bn$3.2bn$4.4bn$4.2bn$1.9bn$1.2bn$5.1bn$6.9bn$11.4bn
Multiples
Price / sales 2.7x4.1x4.2x5.4x6.5x7.9x6.0x2.8x1.5x5.8x6.8x10.2x
Price / earnings 115.3x40.8x71.1x48.9x111.1x78.2x35.4x34.6x————
Price / free cash flow 14.9x26.3x32.4x20.5x37.1x54.4x25.1x21.6x—104.3x41.5x63.9x
EV / EBITDA 14.1x14.7x18.6x20.0x35.5x44.8x24.4x15.9x—61.1x110.8xn/m

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

38 /100

Weak moat

How hard Semtech's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Net income has been a median 3.2% of total assets over 10 years.

  • Pricing power 14 / 20

    Gross margin has been a median 59.2%, moving by 7.9 percentage points (standard deviation) across 10 years.

  • Durability 2 / 20

    Operating margin has been a median 9.4%; its worst year was -110.9%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 8 of 10 years, at a median 15.4% of revenue.

  • Discipline 4 / 20

    The diluted share count rose 37.0% over five years; stock-based pay has been a median 6.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 23, 2026, after the close. Analysts expect revenue of $416m and EPS of $1.13 (range $1.07 to $1.17) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.65 +114% $1.5bn +43%
Next $6.67 +83% $2.0bn +36%

Next year's EPS estimate has moved +70.2% in 90 days, across 15 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +37.3% on 90 days ago. In the last 30 days, 12 analysts raised Semtech Corp's forecast and 0 cut it.

Consensus EPS forecast Semtech Corp, last 90 days
$2.00 $4.00 $6.00 $8.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.66 Current fiscal year, 60 days ago: $3.46 Current fiscal year, 30 days ago: $3.46 Current fiscal year, 7 days ago: $3.65 Current fiscal year, Now: $3.65 $3.65 Next fiscal year, 90 days ago: $3.92 Next fiscal year, 60 days ago: $5.84 Next fiscal year, 30 days ago: $5.84 Next fiscal year, 7 days ago: $6.67 Next fiscal year, Now: $6.67 $6.67

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.66$3.92
60 days ago $3.46$5.84
30 days ago $3.46$5.84
7 days ago $3.65$6.67
Now $3.65$6.67

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $0.61 $0.71 +15.6%
Apr 2026 $0.45 $0.51 +12.5%
Jan 2026 $0.43 $0.44 +2.0%
Oct 2025 $0.45 $0.48 +7.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 25, 2026
  • Net sales Third Quarter of Fiscal Year 2027 about $410m
    “Net sales $ 410.0 +/- $5.0” source
  • Adjusted diluted earnings per share Third Quarter of Fiscal Year 2027 about $1.05 Non-GAAP
    “Adjusted diluted earnings per share* $ 1.05 +/- $0.03” source
  • Adjusted gross margin Third Quarter of Fiscal Year 2027 about 58.3% Non-GAAP
    “Adjusted gross margin* 58.3% +/- 100 bps” source
  • Adjusted gross margin, excluding business held for sale Third Quarter of Fiscal Year 2027 about 63.9% Non-GAAP
    “Adjusted gross margin, excluding business held for sale* 63.9% +/- 100 bps” source
  • Adjusted operating margin Third Quarter of Fiscal Year 2027 about 31% Non-GAAP
    “Adjusted operating margin* 31.0% +/- 60 bps” source
  • Adjusted operating expenses, net Third Quarter of Fiscal Year 2027 about $112m Non-GAAP
    “Adjusted operating expenses, net* $ 112.0 +/- $3.0” source
Show 6 more items
  • Adjusted operating income Third Quarter of Fiscal Year 2027 about $127m Non-GAAP
    “Adjusted operating income* $ 127.0 +/- $4.0” source
  • Adjusted interest and other expense, net Third Quarter of Fiscal Year 2027 about $0.5m Non-GAAP
    “Adjusted interest and other expense, net* $ 0.5” source
  • Adjusted normalized tax rate Third Quarter of Fiscal Year 2027 about 18% Non-GAAP
    “Adjusted normalized tax rate* 18%” source
  • Adjusted EBITDA Third Quarter of Fiscal Year 2027 about $134m Non-GAAP
    “Adjusted EBITDA* $ 134.3 +/- $4.0” source
  • Adjusted EBITDA margin Third Quarter of Fiscal Year 2027 about 32.8% Non-GAAP
    “Adjusted EBITDA margin* 32.8% +/- 60 bps” source
  • Non-GAAP diluted share count Third Quarter of Fiscal Year 2027 about 99m Non-GAAP
    “Non-GAAP diluted share count* 99.0” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

16 analysts, Nov 2026
Buy1594%
Hold16%
Sell00%

Monthly trend

  1. Nov 20261416
  2. Oct 20261416
  3. Sep 20261315

Counts of recommendations published by analysts covering Semtech Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.5%
of tradable shares
Days to cover
1.6
at average volume
Short interest, 1 month
−12%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.8%
of shares
Employees
1,920
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +80.3%

$67.86 on October 31, 2025 to $122.38

ThenNowEffect
Revenue (last 12 months) $996m $1.1bn +9.4%
P/S multiple 5.7x 10.2x +79.3%
Share count 83m 90m −8.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +731.4%

$14.72 on November 3, 2023 to $122.38

ThenNowEffect
Revenue (last 12 months) $820m $1.1bn +32.9%
P/S multiple 1.1x 10.2x +786.3%
Share count 64m 90m −29.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SMTC+23%−68%−24%+182%+19%+66%
Industry peers (median)+36%−34%+16%−15%+16%+13%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SMTC58%25%50%67%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SMTC−29%−72%−61%−32%−69%−41%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 85% from November 19, 2021 to November 1, 2023. Getting back needed a 585% gain, reached on February 25, 2026, 847 days after the low.

Price behaviour

52-week range
$62.57 – $197.20
From 52-week high
−37.9%
vs 50-day average
−22.1%
vs 200-day average
−2.3%
Volatility (1 year)
80%
Beta vs S&P 500
3.25

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
10 up, 2 down
typical move ±10.9%
After a week
10 up, 2 down
typical move ±15.5%
After a month
10 up, 2 down
typical move ±21.9%
Results releasedNext dayS&P 500 next day5 days21 days
August 25, 2026 +16.5% +0.3% +9.4% +44.3%
May 26, 2026 +0.3% +0.6% +6.3% +3.5%
March 16, 2026 −6.6% +1.3% −9.8% +9.9%
November 24, 2025 +12.4% +2.4% +14.1% +18.3%
August 25, 2025 +14.9% 0.0% +13.1% +17.1%
May 27, 2025 −0.7% +1.5% +2.2% +22.4%
March 13, 2025 +17.0% +0.7% +20.1% −21.4%
November 25, 2024 +24.0% +0.9% +31.6% +29.0%
August 27, 2024 +14.6% −0.4% +14.7% +28.0%
June 5, 2024 +1.6% +1.2% −18.8% −9.5%
March 28, 2024 +5.4% −0.2% +16.8% +33.0%
December 6, 2023 +16.4% +0.4% +28.8% +26.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Semtech Corp in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Semtech Corp
$800M $900M $1B $1.1B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $820M Revenue (TTM), FY24 Q3: $843.3M Revenue (TTM), FY24 Q4: $868.8M Revenue (TTM), FY25 Q1: $838.3M Revenue (TTM), FY25 Q2: $815.3M Revenue (TTM), FY25 Q3: $851.2M Revenue (TTM), FY25 Q4: $909.3M Revenue (TTM), FY26 Q1: $954.2M Revenue (TTM), FY26 Q2: $996.5M Revenue (TTM), FY26 Q3: $1B Revenue (TTM), FY26 Q4: $1B Revenue (TTM), FY27 Q1: $1.1B $1.1B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $820M
FY24 Q3 $843.3M
FY24 Q4 $868.8M
FY25 Q1 $838.3M
FY25 Q2 $815.3M
FY25 Q3 $851.2M
FY25 Q4 $909.3M
FY26 Q1 $954.2M
FY26 Q2 $996.5M
FY26 Q3 $1B
FY26 Q4 $1B
FY27 Q1 $1.1B
Revenue growth, TTM YoY Semtech Corp
-10% 0% 10% 20% 30% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 2.9% Revenue growth, TTM YoY, FY24 Q3: 8.2% Revenue growth, TTM YoY, FY24 Q4: 14.8% Revenue growth, TTM YoY, FY25 Q1: 6.0% Revenue growth, TTM YoY, FY25 Q2: -0.6% Revenue growth, TTM YoY, FY25 Q3: 0.9% Revenue growth, TTM YoY, FY25 Q4: 4.7% Revenue growth, TTM YoY, FY26 Q1: 13.8% Revenue growth, TTM YoY, FY26 Q2: 22.2% Revenue growth, TTM YoY, FY26 Q3: 20.6% Revenue growth, TTM YoY, FY26 Q4: 15.5% Revenue growth, TTM YoY, FY27 Q1: 14.2% 14.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 2.9%
FY24 Q3 8.2%
FY24 Q4 14.8%
FY25 Q1 6.0%
FY25 Q2 -0.6%
FY25 Q3 0.9%
FY25 Q4 4.7%
FY26 Q1 13.8%
FY26 Q2 22.2%
FY26 Q3 20.6%
FY26 Q4 15.5%
FY27 Q1 14.2%
Operating margin (TTM) Semtech Corp
-150% -100% -50% 0% 50% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: -40.3% Operating margin (TTM), FY24 Q3: -45.1% Operating margin (TTM), FY24 Q4: -108.7% Operating margin (TTM), FY25 Q1: -110.9% Operating margin (TTM), FY25 Q2: -76.2% Operating margin (TTM), FY25 Q3: -69.5% Operating margin (TTM), FY25 Q4: 5.5% Operating margin (TTM), FY26 Q1: 8.7% Operating margin (TTM), FY26 Q2: 5.9% Operating margin (TTM), FY26 Q3: 7.0% Operating margin (TTM), FY26 Q4: 3.1% Operating margin (TTM), FY27 Q1: 2.1% 2.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -40.3%
FY24 Q3 -45.1%
FY24 Q4 -108.7%
FY25 Q1 -110.9%
FY25 Q2 -76.2%
FY25 Q3 -69.5%
FY25 Q4 5.5%
FY26 Q1 8.7%
FY26 Q2 5.9%
FY26 Q3 7.0%
FY26 Q4 3.1%
FY27 Q1 2.1%
FCF margin (TTM) Semtech Corp
-20% -10% 0% 10% 20% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: -16.6% FCF margin (TTM), FY24 Q3: -18.9% FCF margin (TTM), FY24 Q4: -14.2% FCF margin (TTM), FY25 Q1: -2.5% FCF margin (TTM), FY25 Q2: -1.2% FCF margin (TTM), FY25 Q3: 3.7% FCF margin (TTM), FY25 Q4: 5.5% FCF margin (TTM), FY26 Q1: 8.1% FCF margin (TTM), FY26 Q2: 12.8% FCF margin (TTM), FY26 Q3: 13.9% FCF margin (TTM), FY26 Q4: 16.3% FCF margin (TTM), FY27 Q1: 15.9% 15.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 -16.6%
FY24 Q3 -18.9%
FY24 Q4 -14.2%
FY25 Q1 -2.5%
FY25 Q2 -1.2%
FY25 Q3 3.7%
FY25 Q4 5.5%
FY26 Q1 8.1%
FY26 Q2 12.8%
FY26 Q3 13.9%
FY26 Q4 16.3%
FY27 Q1 15.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jan 2010 2011 Jan 2011 2012 Jan 2012 2013 Jan 2013 2014 Jan 2014 2015 Jan 2015 2016 Jan 2016 2017 Jan 2017 2018 Jan 2018 2019 Jan 2019 2020 Jan 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Jan 2024 2025 Jan 2025 2026 Jan 2026 LTM Apr 2026
Income
Revenue 287 455 481 579 595 558 490 544 588 627 548 595 741 757 869 909 1,050 1,090
Gross profit 156 268 286 315 335 329 293 325 352 377 337 356 461 479 296 457 542 562
EBITDA 39 95 112 33 −87 97 79 131 116 155 92 99 171 119 −915 83 62 51
Operating income 31 79 94 16 −109 42 30 84 67 105 52 75 145 93 −944 50 33 22
Net income 1 73 89 42 −164 28 11 55 35 70 32 60 126 61 −1,092 −162 −40 −33
Diluted EPS $0.02 $1.12 $1.32 $0.62 −$2.44 $0.41 $0.17 $0.83 $0.51 $1.02 $0.47 $0.91 $1.92 $0.96 −$17.03 −$2.26 −$0.46 −$0.37
Growth (year on year)
Revenue −2.8% +58.6% +5.7% +20.4% +2.8% −6.2% −12.1% +11.0% +8.0% +6.7% −12.7% +8.7% +24.5% +2.1% +14.8% +4.7% +15.5% +14.2%
EBITDA −21.8% +142.4% +17.8% −70.1% −360.1% — −18.5% +66.1% −11.8% +34.2% −41.0% +7.6% +73.5% −30.7% −871.5% — −24.9% −55.7%
Operating income −26.2% +154.7% +18.8% −83.3% −798.7% — −29.0% +180.3% −20.8% +58.4% −50.7% +44.1% +93.5% −36.0% <−999% — −34.8% −72.9%
Net income −97.4% — +22.8% −52.9% −492.2% — −58.9% +375.4% −36.6% +101.0% −54.2% +88.0% +109.8% −51.2% <−999% — — —
Diluted EPS −96.7% — +17.9% −53.0% −493.5% — −58.5% +388.2% −38.6% +100.0% −53.9% +93.6% +111.0% −50.0% <−999% — — —
Margins
Gross margin 54.5% 59.0% 59.4% 54.4% 56.3% 58.9% 59.8% 59.7% 59.9% 60.1% 61.5% 59.8% 62.2% 63.3% 34.1% 50.2% 51.6% 51.6%
EBITDA margin 13.7% 20.9% 23.3% 5.8% −14.6% 17.4% 16.1% 24.1% 19.7% 24.7% 16.7% 16.6% 23.1% 15.7% −105.3% 9.1% 5.9% 4.7%
Operating margin 10.8% 17.3% 19.5% 2.7% −18.3% 7.6% 6.1% 15.4% 11.3% 16.8% 9.5% 12.6% 19.6% 12.3% −108.7% 5.5% 3.1% 2.1%
Net margin 0.3% 16.0% 18.5% 7.2% −27.6% 5.0% 2.3% 10.0% 5.9% 11.1% 5.8% 10.1% 17.0% 8.1% −125.7% −17.8% −3.8% −3.0%
Free-cash-flow margin 26.0% 15.0% 16.3% 13.6% 13.6% 13.3% 18.2% 15.6% 12.9% 26.5% 17.5% 14.5% 23.9% 13.0% −14.2% 5.5% 16.3% 15.9%
Cash flow
Cash from operations 83 94 100 102 118 106 102 118 111 184 119 119 203 127 −94 58 181 190
Capital spending 9 26 22 23 37 32 13 33 35 17 23 33 26 28 29 8 10 16
Free cash flow 75 68 78 79 81 74 89 85 76 167 96 86 177 98 −123 50 171 173
Stock-based pay 20 29 24 25 25 30 20 31 50 67 52 53 51 39 40 68 58 77
Free cash flow after stock pay 55 39 54 54 56 45 69 54 26 100 44 33 126 59 −163 −18 114 96
Balance sheet
Cash 81 119 227 223 243 230 212 297 308 312 293 269 280 236 129 152 195 163
Total debt — — — — — — — — — — — — — — — — — 503
Net debt (negative = net cash) −81 −119 −227 −223 −243 −230 −212 −297 −308 −312 −293 −269 −280 −236 −129 −152 −195 340
Diluted shares 62m 65m 67m 67m 67m 68m 66m 66m 68m 68m 67m 66m 66m 64m 64m 72m 88m 90m
Returned to shareholders
Buybacks 3 3 51 8 30 41 57 1 15 116 70 71 130 50 0 0 — —
Total returned 3 3 51 8 30 41 57 1 15 116 70 71 130 50 0 0 — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · April 26, 2026
What it owns · $1.4bn
Short-term assets $649mLonger-term assets $790m
What it owes, and who funded it · $847m
Short-term liabilities $274mShareholders' equity $573m
  • Short-term assets cover short-term liabilities $649m of assets due within a year against $274m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $163m of cash against $492m of debt.
  • Debt below 40% of shareholders' equity Debt is 86% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 24% to 86% over five years.
  • A year's operating cash flow covers at least 20% of debt $190m of operating cash flow against $492m of debt.
  • Operating profit covers interest at least five times over Operating income of $22m against $36m of interest.

From Semtech Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+16.2%
year over year
R&D spending
18.9%
of revenue
Sales & admin spending
22.2%
of revenue
Days sales outstanding
59 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in semiconductors
Last 12 months unless stated SMTC IPGP MTSI ICHR ALGM ARRY Median
Revenue, last 12 months $1.1bn $1.1bn $1.2bn $1.0bn $1.0bn $1.2bn $1.1bn
Revenue growth, last 12 months 14.2% 13.0% 28.4% 9.1% 27.9% 1.2% 13.7%
Revenue growth, 3-year average 11.3% −7.9% 19.8% −1.7% −2.0% −13.0% 3.9%
Revenue growth, latest quarter 15.9% 11.1% 35.8% 22.7% 29.2% −5.6% 20.1%
Gross margin 51.6% 38.4% 56.5% 10.4% 47.9% 24.3% 48.3%
Operating margin 2.1% 0.7% 18.1% −2.4% 7.5% −5.1% 4.8%
Operating margin, 3-year average −33.4% −4.6% 13.4% −1.8% 3.9% −3.9% 4.8%
Net margin −3.0% 2.6% 20.7% −4.0% 3.1% −7.2% 5.3%
Cash from operations / revenue 17.4% 9.0% 23.3% −0.0% 13.9% 13.7% 17.4%
Free-cash-flow margin 15.9% 1.9% 17.5% −2.5% 10.4% 11.4% 9.6%
Free-cash-flow margin, 3-year average 7.2% 8.8% 19.5% 0.6% 8.5% 13.5% 8.5%
Stock pay / revenue 7.1% 3.9% 7.2% 1.6% 5.1% 1.5% 5.8%
Change in share count 16.2% −0.3% 1.8% 3.0% 0.8% 0.6% 0.9%

Median of all 75 companies we cover in semiconductors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 semiconductor companies
Measure Company Peer median Rank
Revenue growth Growth 14.2% 13.7% 37 of 75
Change in growth rate Growth -1.3pp +3.7pp 51 of 75
Gross margin Profitability 51.6% 48.3% 34 of 73
Operating margin Profitability 2.1% 4.8% 44 of 75
Net margin Profitability -3.0% 5.3% 46 of 75
Free-cash-flow margin Cash generation 15.9% 9.6% 27 of 75
Stock pay as % of revenue Cash generation 7.1% 6.4% 40 of 74
Long-term debt as % of assets Balance sheet 34.2% 14.0% 39 of 47
Change in share count Balance sheet 16.2% 0.9% 65 of 72
Days sales outstanding Balance sheet 59 days 58 days 33 of 62

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 25, 2026
Products and services
Line of business Revenue Share YoY
Products $942M 89.7% ▲ 18.6%
Services $108M 10.3% ▼ 6.1%
Geography
Region Revenue Share YoY
Asia Pacific $698M 66.4% ▲ 21.4%
North America $232M 22.1% ▲ 13.4%
Europe $121M 11.5% ▼ 7.4%

From Semtech Corp's 10-K filed March 23, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$15B
Institutions reporting
573
Shares held vs prior quarter
▼ 6.3%
Positions opened / closed
188 / 51

Top buyers and sellers, Q2 2026: 344 institutions bought and 234 sold ; the biggest buyer was Jane Street Group, LLC (+2.6M shares) and the biggest seller Blackrock, Inc (−4.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.6B 9.7M 10.5% ▼ 31.4%
Vanguard Portfolio Management LLC $862M 5.3M 5.7% ▼ 23.0%
Vanguard Capital Management LLC $680M 4.2M 4.5% ▲ 1.3%
Ameriprise Financial Inc $559M 3.5M 3.7% ▼ 53.7%
State Street Corp $548M 3.4M 3.7% ▼ 16.5%
Jane Street Group, LLC $542M 3.4M 3.6% ▲ 333.6%
Capital Research Global Investors $478M 3.0M 3.2% ▼ 28.8%
Geode Capital Management, LLC $367M 2.3M 2.4% ▼ 10.8%
Hood River Capital Management LLC $364M 2.3M 2.4% ▼ 1.6%
Morgan Stanley $319M 2.0M 2.1% ▲ 39.1%
Wellington Management Group LLP $310M 1.9M 2.1% ▼ 19.7%
Bank Of America Corp $301M 1.9M 2.0% ▲ 62.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Semtech Corp's complete shareholder register. Values are as reported by the filers ; 5 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $18.7M 60 trades by 12 insiders · 63% under pre-set plans
Net ▼ $18.7M net selling
Insider Date Trade Shares Price Value
Walsh Paul V Jr Director October 21, 2026 Sell pre-set plan 500 $139.44 $69,720
Green Jason Elliot EVP and CCO October 7, 2026 Sell pre-set plan 2,766 $190.35 $526,508
Hou Hong Q President and CEO October 2, 2026 Sell pre-set plan 2,000 $191.21 $382,420
Lin Mark EVP and CFO October 1, 2026 Sell pre-set plan 967 $178.87 $172,967
Walsh Paul V Jr Director September 23, 2026 Sell pre-set plan 500 $172.61 $86,305
Cardenuto Rodolpho C Director September 16, 2026 Sell 5,321 $165.00 $877,978
Lin Mark EVP and CFO September 10, 2026 Sell pre-set plan 683 $159.90 $109,212
Hou Hong Q President and CEO September 4, 2026 Sell pre-set plan 2,000 $138.71 $277,420
Ruehl Julie Garcia Director September 4, 2026 Sell pre-set plan 1,500 $145.00 $217,500
Walsh Paul V Jr Director August 19, 2026 Sell pre-set plan 500 $135.48 $67,740
Silberstein Asaf EVP and COO August 17, 2026 Sell pre-set plan 5,000 $150.00 $750,000
Hou Hong Q President and CEO August 7, 2026 Sell pre-set plan 2,000 $140.00 $280,000

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 8 trades and filings

In the last 12 months, 1 member of Congress disclosed 2 purchases and 4 sales of Semtech Corp shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded September 29, 2026, filed October 12, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded July 21, 2026, filed September 4, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded July 16, 2026, filed September 4, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 23, 2026 estimated from the company's past filing pattern, not announced

  • August 25, 2026
  • May 26, 2026
  • March 16, 2026
  • November 24, 2025
  • August 25, 2025
  • May 27, 2025

Recent SEC filings

Data status

When each part of this page on Semtech Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Semtech Corp in brief

What does Semtech Corp do?
Semtech Corp is a US-listed company in the semiconductors industry. Its financial year ends in January.
What is Semtech Corp's stock ticker?
Semtech Corp trades under the ticker SMTC on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Semtech Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Semtech Corp reported revenue of $1.1B, 14.2% higher than a year earlier, according to its SEC filings.
What is Semtech Corp's free cash flow?
Semtech Corp's free-cash-flow margin is 15.9% of revenue over the trailing twelve months, ranking 27 of the 75 semiconductor companies we cover.
Who are Semtech Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Semtech Corp's market cap?
On November 2, 2026, Semtech Corp's market capitalisation was about $11.1B and net debt of $340M. Market figures come from third-party market data and may be delayed.
How much debt does Semtech Corp have?
Semtech Corp's debt-to-equity ratio is 85.8%, from its latest balance sheet (24.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are Semtech Corp's competitors?
In our Semiconductors peer group, the companies closest to Semtech Corp are IPG Photonics Corp, Macom Technology Solutions Holdings, Inc., Ichor Holdings, LTD., Allegro Microsystems, Inc. and Array Technologies, Inc. The side-by-side comparison below sets their revenue, margins and growth against Semtech Corp's.
Are insiders buying or selling Semtech Corp stock?
Over the last 12 months, Semtech Corp's directors and officers reported 0 open-market purchases and 60 sales on Form 4. The insider trading page charts every trade.
When is Semtech Corp's next earnings date?
Around November 23, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Semtech Corp announces its own schedule.