Semtech (SMTC)

Market Price (11/3/2026): $126.8 | Market Cap: $11.8 BilSector: Information Technology | Industry: Semiconductors

Semtech (SMTC)

Market Price (11/3/2026): $126.8
Market Cap: $11.8 Bil
Sector: Information Technology
Industry: Semiconductors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%

Megatrend and thematic drivers
Megatrends include Artificial Intelligence, Smart Grids & Grid Modernization, and 5G & Advanced Connectivity. Themes include Data Centers & Infrastructure, Show more.

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 185x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 53x, P/EPrice/Earnings or Price/(Net Income) is 74x

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9%

Key risks
SMTC key risks include [1] significant financial and operational strain from the Sierra Wireless acquisition, Show more.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%
1	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Smart Grids & Grid Modernization, and 5G & Advanced Connectivity. Themes include Data Centers & Infrastructure, Show more.
2	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 185x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 53x, P/EPrice/Earnings or Price/(Net Income) is 74x
3	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9%
4	Key risks SMTC key risks include [1] significant financial and operational strain from the Sierra Wireless acquisition, Show more.

SMTC in ETFs

Weight = SMTC's share of each fund

VTI0.02%

ITOT0.02%

IWB0.02%

IJH0.35%

VB0.21%

NASA0.71%

MDYG0.52%

IVOO0.49%

+21 more covered ETFs

Valuation & Metrics

FYE: 1/25	Forward FYE		Now	Historical (CYE & TTM)
	2028	2027	11/3/26	2025	2024	2023
Share Price			$126.80	$73.69	$61.85	$21.91
Mkt Cap ($ Bil)			11.8	6.8	5.0	1.4
+ Debt ($ Bil)			0.5	0.5	0.6	1.4
- Cash ($ Bil)			0.2	0.2	0.2	0.1
TEV ($ Bil)			12.1	7.3	5.6	2.8
Valuation Ratios
P/S	5.8	7.9	10.1	6.5	5.5	1.6
P/EBIT	14.6	25.2	192.0	-1,584.3	-51.7	-1.5
P/E	17.7	33.3	76.8	-169.1	-31.0	-1.3
P/FCF	—	—	64.3	41.3	114.8	-11.3
Sector Ratios (* = sector average)
P/S *			3.4	3.3	3.2	3.2
P/EBIT *			4.7	3.4	-0.0	-0.0
P/E *			-0.0	-0.1	-0.3	-0.2
P/FCF *			9.7	10.6	13.6	13.9

FYE: 1/25	Forward FYE		Now
	2028	2027	11/3/26
Share Price			$126.80
Mkt Cap ($ Bil)			11.8
+ Debt ($ Bil)			0.5
- Cash ($ Bil)			0.2
TEV ($ Bil)			12.1
Valuation Ratios
P/S	5.8	7.9	10.1
P/EBIT	14.6	25.2	192.0
P/E	17.7	33.3	76.8
P/FCF	—	—	64.3
Sector Ratios (* = sector average)
P/S *			3.4
P/EBIT *			4.7
P/E *			-0.0
P/FCF *			9.7

FYE: 1/25	SMTC [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$1.2 Bil	—
FY 2027 Sales	$1.5 Bil	—
FY 2028 Sales	$2.0 Bil	—
FY 2027 Sales Growth	28.1%	—
FY 2028 Sales Growth	35.9%	8.9%
EARNINGS
LTM Net Income (GAAP) [3]	$154.0 Mil	—
FY 2027 Net Income (Non-GAAP)	$355.0 Mil	—
FY 2028 Net Income (Non-GAAP)	$667.1 Mil	—
FY 2028 Net Income Growth	87.9%	14.0%
FY 2027 EPS (Non-GAAP)	$3.65	—
FY 2028 EPS (Non-GAAP)	$6.67	—
FY 2028 EPS Growth	82.8%	—
VALUATION
FY 2027 P/S	7.9	3.1
FY 2028 P/S	5.8	—
FY 2027 P/E	33.3	18.0
FY 2028 P/E	17.7	—

[1] SMTC forward figures are analyst consensus for the next two fiscal years (fiscal year end 1/25). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 11/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	SMTC	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	1.2
Rev Chg Q	32.7%	8.9%
Rev Chg LTM	17.8%	8.5%
Rev Chg 3Y Avg	13.2%	6.2%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.2
Op Mgn LTM	12.0%	18.6%
CFO/Rev LTM	18.2%	21.6%
Net Inc Mgn	13.1%	13.4%
VALUATION	VERY HIGH
P/S	10.1	3.3
P/CFO	55.3	15.2
P/FCF	64.3	20.4
P/E	76.8	22.8
STABILITY	VERY GOOD
Debt/Equity	0.04	0.19
Cash/Assets	0.12	0.07

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Metric	Value	Date	Source
Connected End Nodes	more than 450 million	5312025	Link
IoT Cloud Services Recurring Revenue	greater than $100 million annually (expected)	8022022	Link
Total Addressable Market (TAM) for IoT	$10 billion by 2027 (expected)	8022022	Link
LoRaWAN network deployments	IoT networks in over 170 countries	9242024	Link

Price Chart

Upcoming
11/23/2026	Earnings Release	Rev: $416 Mil (E) EPS: $1.13 (E)

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/1/2026

Semtech (SMTC) stock has gained about 5% since 7/31/2026 because of the following key factors:

1. Semtech exceeded fiscal Q2 2027 earnings expectations and provided robust fiscal Q3 2027 guidance.

Semtech reported its fiscal Q2 2027 (ended July 31, 2026) earnings on August 25, 2026, with an adjusted earnings per share (EPS) of $0.71, surpassing the consensus estimate of $0.61 by $0.10. Revenue reached $341.87 million, exceeding analyst estimates of $328.67 million and representing a 32.7% year-over-year increase. Furthermore, management issued optimistic guidance for fiscal Q3 2027, projecting revenue between $405 million and $415 million and EPS between $1.02 and $1.08, significantly exceeding previous market forecasts and signaling accelerating core business growth.

2. Strategic pivot towards high-growth AI data center and IoT markets, supported by a significant divestiture.

Semtech continued to sharpen its focus on the high-growth markets of AI data center infrastructure and IoT (LoRa technology). This strategic emphasis was highlighted by the agreement in August 2026 to divest its lower-margin cellular module business for $62 million in cash, which is expected to reduce quarterly sales by approximately $40 million but improve gross margins and allow for greater concentration on higher-margin AI data center networking and LoRa/IoT segments. Analyst expectations for Semtech indicate a 75% growth in data center revenue and over 30% growth in LoRa from fiscal year 2026 to fiscal year 2030.

3. Numerous analyst upgrades and bullish price target revisions.

Following the strong earnings report and strategic announcements, several analysts upgraded their ratings and substantially raised their price targets for Semtech. Examples include Roth Capital increasing its price target to $190 from $102 in August 2026, BMO initiating coverage with an "Outperform" rating and a $155 target in August 2026, UBS raising its target from $225 to $230 in August 2026, and Baird elevating its target to $300 in September 2026. By late October 2026, the consensus rating for Semtech became a "Strong Buy," with an average price target ranging from $213 to $217, reflecting increased confidence in the company's future performance.

4. Favorable macroeconomic trends in the semiconductor industry, particularly in AI and IoT infrastructure.

The broader semiconductor sector experienced a recovery during the period, with improving sentiment surrounding AI-adjacent and IoT infrastructure spending. This macroeconomic tailwind provided a supportive environment for Semtech, as increased demand for high-speed optical connectivity for AI data centers and continued adoption of IoT solutions drove investor optimism and contributed to the stock's positive movement.

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Stock Movement Drivers

Fundamental Drivers

The 3.9% change in SMTC stock from 7/31/2026 to 11/2/2026 was primarily driven by a 7.7% change in the company's Total Revenues ($ Mil).

(LTM values as of)	7312026	11022026	Change
Stock Price ($)	117.82	122.38	3.9%
Change Contribution By:
Total Revenues ($ Mil)	1,090	1,174	7.7%
P/S Multiple	10.0	9.7	-3.2%
Shares Outstanding (Mil)	93	93	-0.4%
Cumulative Contribution			3.9%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/2/2026

	Return	Correlation
SMTC	3.9%
Market (SPY)	0.7%	33.5%
Sector (XLK)	-0.6%	63.7%

Fundamental Drivers

The 16.5% change in SMTC stock from 4/30/2026 to 11/2/2026 was primarily driven by a 11.8% change in the company's Total Revenues ($ Mil).

(LTM values as of)	4302026	11022026	Change
Stock Price ($)	105.05	122.38	16.5%
Change Contribution By:
Total Revenues ($ Mil)	1,050	1,174	11.8%
P/S Multiple	9.3	9.7	4.9%
Shares Outstanding (Mil)	93	93	-0.7%
Cumulative Contribution			16.5%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/2/2026

	Return	Correlation
SMTC	16.5%
Market (SPY)	4.9%	47.6%
Sector (XLK)	9.4%	68.8%

Fundamental Drivers

The 80.3% change in SMTC stock from 10/31/2025 to 11/2/2026 was primarily driven by a 448.3% change in the company's Net Income Margin (%).

(LTM values as of)	10312025	11022026	Change
Stock Price ($)	67.86	122.38	80.3%
Change Contribution By:
Total Revenues ($ Mil)	996	1,174	17.8%
Net Income Margin (%)	2.4%	13.1%	448.3%
P/E Multiple	246.8	74.1	-70.0%
Shares Outstanding (Mil)	87	93	-7.0%
Cumulative Contribution			80.3%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/2/2026

	Return	Correlation
SMTC	80.3%
Market (SPY)	11.2%	52.0%
Sector (XLK)	16.3%	67.0%

Fundamental Drivers

The 776.6% change in SMTC stock from 10/31/2023 to 11/2/2026 was primarily driven by a 792.2% change in the company's P/S Multiple.

(LTM values as of)	10312023	11022026	Change
Stock Price ($)	13.96	122.38	776.6%
Change Contribution By:
Total Revenues ($ Mil)	820	1,174	43.2%
P/S Multiple	1.1	9.7	792.2%
Shares Outstanding (Mil)	64	93	-31.4%
Cumulative Contribution			776.6%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/2/2026

	Return	Correlation
SMTC	776.6%
Market (SPY)	86.0%	53.3%
Sector (XLK)	116.2%	60.3%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
SMTC Return	23%	-68%	-24%	182%	19%	66%	70%
Peers Return	53%	-19%	27%	-13%	8%	39%	106%
S&P 500 Return	27%	-19%	24%	23%	16%	10%	101%
Monthly Win Rates [3]
SMTC Win Rate	58%	25%	50%	67%	58%	64%
Peers Win Rate	63%	35%	60%	35%	47%	53%
S&P 500 Win Rate	75%	42%	67%	75%	67%	36%
Max Drawdowns [4]
SMTC Max Drawdown	-29%	-71%	-61%	-32%	-68%	-41%
Peers Max Drawdown	-19%	-36%	-33%	-31%	-42%	-29%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: SLAB, MCHP, ADI, NXPI, ON. See SMTC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/2/2026 (YTD)

Event	SMTC	S&P 500
2025 US Tariff Shock
% Loss	-35.8%	-18.8%
% Gain to Breakeven	55.7%	23.1%
Time to Breakeven	21 days	79 days
2024 Yen Carry Trade Unwind
% Loss	-21.4%	-7.8%
% Gain to Breakeven	27.3%	8.5%
Time to Breakeven	8 days	18 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-51.9%	-9.5%
% Gain to Breakeven	108.1%	10.5%
Time to Breakeven	152 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-43.7%	-6.7%
% Gain to Breakeven	77.7%	7.1%
Time to Breakeven	336 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-71.5%	-24.5%
% Gain to Breakeven	250.8%	32.4%
Time to Breakeven	1229 days	427 days
2020 COVID-19 Crash
% Loss	-44.9%	-33.7%
% Gain to Breakeven	81.6%	50.9%
Time to Breakeven	71 days	140 days

Compare to SLAB, MCHP, ADI, NXPI, ON

In The Past

Semtech's stock fell -35.8% during the 2025 US Tariff Shock. Such a loss loss requires a 55.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	SMTC	S&P 500
2025 US Tariff Shock
% Loss	-35.8%	-18.8%
% Gain to Breakeven	55.7%	23.1%
Time to Breakeven	21 days	79 days
2024 Yen Carry Trade Unwind
% Loss	-21.4%	-7.8%
% Gain to Breakeven	27.3%	8.5%
Time to Breakeven	8 days	18 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-51.9%	-9.5%
% Gain to Breakeven	108.1%	10.5%
Time to Breakeven	152 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-43.7%	-6.7%
% Gain to Breakeven	77.7%	7.1%
Time to Breakeven	336 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-71.5%	-24.5%
% Gain to Breakeven	250.8%	32.4%
Time to Breakeven	1229 days	427 days
2020 COVID-19 Crash
% Loss	-44.9%	-33.7%
% Gain to Breakeven	81.6%	50.9%
Time to Breakeven	71 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-24.3%	-19.2%
% Gain to Breakeven	32.2%	23.8%
Time to Breakeven	59 days	105 days
2014-2016 Oil Price Collapse
% Loss	-44.8%	-6.8%
% Gain to Breakeven	81.1%	7.3%
Time to Breakeven	319 days	15 days
2013 Taper Tantrum
% Loss	-30.4%	-0.2%
% Gain to Breakeven	43.8%	0.2%
Time to Breakeven	1036 days	1 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-24.5%	-17.9%
% Gain to Breakeven	32.5%	21.8%
Time to Breakeven	143 days	123 days
2008-2009 Global Financial Crisis
% Loss	-44.5%	-53.4%
% Gain to Breakeven	80.2%	114.4%
Time to Breakeven	168 days	1085 days

Compare to SLAB, MCHP, ADI, NXPI, ON

In The Past

Semtech's stock fell -35.8% during the 2025 US Tariff Shock. Such a loss loss requires a 55.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Semtech (SMTC)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

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Semtech Corporation is a semiconductor company that designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company's core business involves providing essential electronic components and technologies that enable efficient and reliable operation across a broad spectrum of modern electronic systems.

Semtech's product portfolio is diverse, addressing critical functionalities in various industries. Its offerings include signal integrity products for optical data communications and video transport in applications such as data centers, enterprise networks, and broadcast. The company also provides protection products, like transient voltage suppressors, to safeguard electronic systems from voltage spikes. Furthermore, Semtech offers specialized wireless and sensing products for industrial, medical, and consumer uses, alongside power products designed to regulate and condition power within electronic systems, including wireless charging solutions.

The company primarily serves original equipment manufacturers (OEMs) and their suppliers across key end-markets. These markets encompass enterprise computing, communications infrastructure, and a variety of industrial and consumer applications. Semtech distributes its products globally, reaching customers in North America, Europe, Asia-Pacific, and other international regions.

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Semtech is like a specialized Texas Instruments (TI), providing essential analog and mixed-signal chips that manage power, protect electronics, and enable high-speed data and specialized wireless communication for various electronic devices and infrastructure.

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Signal Integrity Products: These include optical data communications and video transport products, as well as integrated circuits for data centers, enterprise networks, and high-speed interface applications.
Protection Products: These are filter and termination devices integrated with transient voltage suppressor devices to protect electronic systems from voltage spikes.
Wireless and Sensing Products: This portfolio comprises specialized radio frequency products and specialized sensing products for industrial, medical, communications, and consumer applications.
Power Products: These consist of various regulators, isolated switches, and wireless charging solutions that control, alter, regulate, and condition power within electronic systems.

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Taiwan Semiconductor Manufacturing Company (TSM)
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Dr. Hong Q. Hou, President and Chief Executive Officer

Dr. Hou was appointed President and Chief Executive Officer of Semtech in June 2024, having served on Semtech's Board of Directors since July 2023. He possesses extensive experience in the semiconductor and hyperscale industries. Prior to Semtech, Dr. Hou was president of the Semiconductor Group at Brooks Automation, where he drove improvements in customer satisfaction and accelerated growth, operating in a leveraged buyout environment. He also served as corporate vice president and general manager of the Cloud and Edge Networking Group at Intel Corporation. Earlier in his career, he held executive leadership positions as Chief Operating Officer at AXT, Inc. and President and Chief Executive Officer at EMCORE Corporation, where he also served on the board of directors. Dr. Hou holds a Ph.D. in Electrical Engineering from the University of California, San Diego, and completed executive management coursework at Stanford Graduate School of Business.

Mark Lin, Executive Vice President and Chief Financial Officer

Mr. Lin joined Semtech in October 2023 as Executive Vice President and Chief Financial Officer. Before his tenure at Semtech, he served as vice president and corporate controller of MKS Instruments Inc. from November 2019 to October 2023. Prior to MKS Instruments, Mr. Lin spent from June 2005 to July 2019 at Microsemi, where he held various accounting and finance roles, including vice president, finance and corporate controller, a position he assumed in 2014. He earned a Bachelor of Arts in business-economics from the University of California, Los Angeles, and is a certified public accountant.

Asaf Silberstein, Executive Vice President and Chief Operating Officer

Mr. Silberstein was promoted to the role of Chief Operating Officer in March 2023, having previously served as executive vice president, worldwide operations and information technology. He joined Semtech in 2011 as vice president of operations. With over two decades of operations experience in the semiconductor industry, Mr. Silberstein's prior roles include vice president of operations and information technology at Microsemi Corporation and Chief Operating Officer at PowerDsine Ltd., which was acquired by Microsemi. He holds an MBA from Bar-Ilan University and an undergraduate degree from Ben-Gurion University of the Negev.

Jason Green, Executive Vice President and Chief Commercial Officer

Mr. Green was appointed Executive Vice President and Chief Commercial Officer, effective February 2025. He brings extensive experience in driving profitable growth and operational excellence within the semiconductor and technology sectors. Most recently, he was managing partner at Stratosphere Management, providing counsel on business transformation and growth strategies. His previous experience includes leading the go-to-market transformation at National Instruments (now part of Emerson) as executive vice president, chief revenue officer and business unit general manager. Mr. Green also spent two decades at Maxim Integrated (now part of Analog Devices), where he held senior commercial leadership positions, contributing significantly to its expansion. He holds a business degree from the University of Florida and completed the Advanced Management Program at Harvard Business School.

Imran Sherazi, Senior Vice President and General Manager, Signal Integrity Products Group

Mr. Sherazi assumed the role of Senior Vice President and General Manager of Semtech's Signal Integrity Products Group in September 2023. He previously served as vice president of business development and strategy within the same group. Since joining Semtech following its 2012 acquisition of Gennum Corporation, Mr. Sherazi has held numerous leadership positions in M&A and marketing. Before the acquisition, he led product marketing, definition, and strategy at Gennum Corporation. Mr. Sherazi holds a Bachelor of Engineering in Microelectronics from Brunel University London and is the holder of several U.S. patents.

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The key risks to Semtech's business include:

Cyclicality of the Semiconductor Industry and Dependence on AI Capital Expenditure: As a semiconductor company, Semtech is inherently exposed to the cyclical nature of the industry and fluctuating market dynamics. Any slowdown in capital expenditure from major hyperscalers for artificial intelligence (AI) infrastructure could significantly impact its Signal Integrity segment.
Integration Risks from Acquisitions: Semtech has faced challenges with past acquisitions, notably the Sierra Wireless acquisition in 2023, which resulted in a significant goodwill write-off and a reduction in gross profit margins. The company must also successfully integrate new technologies, such as the HieFo laser technology, without experiencing similar "indigestion" seen in previous deals.
Geopolitical Exposure and Supply Chain Risks: A significant portion of the global IoT supply chain, crucial for Semtech's wireless and sensing products, is concentrated in China. This exposure makes the company vulnerable to escalations in trade tensions and potential supply chain disruptions.

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Semtech Corporation (SMTC) operates in several key addressable markets for its analog and mixed-signal semiconductor products and advanced algorithms. The market sizes for their main products and services are as follows:

Signal Integrity Products

Optical Data Communications: The global optical communication systems and networking market was valued at USD 36.87 billion in 2025 and is projected to reach USD 74.21 billion by 2034, exhibiting a Compound Annual Growth Rate (CAGR) of 8.38% during the forecast period. Other estimates place the global optical data transmission devices market at approximately USD 10.5 billion in 2023, projected to reach around USD 22.7 billion by 2032 with a CAGR of 8.7%.
Video Transport Products and Video-over-IP for Professional AV Applications: The global professional AV (Pro AV) market size was valued at USD 292.3 billion in 2025 and is projected to grow to USD 501.76 billion by 2034, with a CAGR of 6.19%. The global AV-over-IP market was valued at USD 28.24 billion in 2026 and is steadily progressing to USD 1,728.69 billion by 2035, growing at a CAGR of 57.94%.
Integrated Circuits for Data Centers: The global data center interconnect (DCI) market is projected to reach USD 14.6 billion in 2025 and grow to USD 79.4 billion by 2034, at a CAGR of 20.7%. Another estimate valued the global data center interconnect market at USD 16.24 billion in 2025, growing to USD 42.45 billion by 2032 at a CAGR of 14.73%.
Enterprise Networks: The global enterprise networking market size was estimated at USD 207.69 billion in 2024 and is projected to reach USD 385.45 billion by 2035, growing at a CAGR of 5.78%. Other analyses value the global enterprise networking market at USD 128.4 billion in 2025, projected to grow to USD 287.32 billion by 2034 with a CAGR of 9.36%.
Passive Optical Networks (PON): The global passive optical network (PON) market size was valued at USD 17.61 billion in 2025 and is projected to grow to USD 60.52 billion by 2034, exhibiting a CAGR of 14.80%. The global passive optical network (PON) equipment market was valued at USD 35.72 billion in 2025 and is expected to grow at a CAGR of 10.27% from 2026 to 2032, reaching nearly USD 70.82 billion.
High-Speed Interface Applications: The global high-speed interconnects market size was valued at USD 40.2 billion in 2024 and is expected to reach USD 87.6 billion by 2032, growing at a CAGR of 10.25%. The global interface IC market was valued at USD 3.1 billion in 2024 and is estimated to grow at a CAGR of 3.6% to reach USD 4.3 billion by 2034.

Protection Products

Transient Voltage Suppressor (TVS) Devices: The global transient voltage suppressor diode market was valued at USD 3.01 billion in 2026 and is expected to climb to USD 4.57 billion by 2035, growing at a CAGR of 4.7% during the forecast period. Another source estimated the global transient voltage suppressor diode market at USD 1.0 billion in 2023, anticipated to reach USD 2.1 billion by 2032 with a CAGR of 8.1%.
Note: Specific market sizes for "filter and termination devices" were not explicitly identified.

Wireless and Sensing Products

Specialized Radio Frequency Products: null
Specialized Sensing Products: null

Note: Specific addressable market sizes for "specialized radio frequency products" and "specialized sensing products" were not explicitly identified within the provided search results beyond very broad categories.

Power Products

Switching Voltage Regulators: The global switching commercial voltage regulator market was valued at USD 653.1 million in 2024 and is expected to reach USD 1.41 billion by 2034, growing at a CAGR of 8.1% from 2025 to 2034. The global switching voltage regulators market size has grown from USD 5.63 billion in 2025 to USD 6.09 billion in 2026 at a CAGR of 8.1%, and is expected to grow to USD 8.39 billion in 2030 at a CAGR of 8.4%.
Linear Regulators: The global linear regulators (LDO regulators) market is anticipated to grow to USD 0.79 billion in 2025, with further expansion to USD 1.13 billion by 2034 at a CAGR of 4%. The global linear regulator ICs (LDOs) market is valued at USD 3.2 billion in 2025 and is set to reach USD 5.6 billion by 2035, recording a CAGR of 5.80% between 2025 and 2035.
Wireless Charging: The global wireless charging market size was valued at USD 8.41 billion in 2024. The market is projected to grow from USD 10.15 billion in 2025 to USD 57.16 billion by 2034, exhibiting a CAGR of 21.2% during the forecast period. Another report calculated the global wireless charging market size at USD 23.60 billion in 2025 and predicted it to increase to approximately USD 192.06 billion by 2035, expanding at a CAGR of 23.33% from 2026 to 2035.

AI Analysis | Feedback

Semtech Corporation (SMTC) is poised for future revenue growth over the next two to three years, driven by several key strategic initiatives and market expansions. Here are the expected drivers of future revenue growth for Semtech: * Growth in High-Speed Data Center Interconnects: Semtech anticipates significant revenue growth from its signal integrity products, particularly those serving the data center market. The increasing demand for higher bandwidth in hyperscale data centers, driven by artificial intelligence (AI) and cloud computing, is fueling the adoption of 800G and the upcoming 1.6T and 3.2T optical transceivers. The company's focus on solutions like Linear Pluggable Optics (LPO) and Active Copper Cable (ACC) is expected to capture major design wins and contribute to this growth. * Expansion of LoRa Technology: Semtech's LoRa (Long Range) technology continues to be a crucial growth driver, with projections indicating annual growth of 15%-20% for the LoRa business. The technology is seeing expanded adoption across diverse applications, including smart metering, asset tracking, smart buildings, smart cities, and security. Recent collaborations, such as the agreement with Trident IoT for multi-protocol smart home solutions and LoRa's continued role in Amazon Sidewalk's international rollout, are expected to broaden its market reach and drive further revenue. * Advancements in 5G RedCap Modules and IoT Systems: The ongoing transition of the Internet of Things (IoT) from 4G to 5G is expected to generate growth for Semtech's IoT Systems and Connectivity segment. The company has completed certifications for 5G RedCap modules, which are now commercially available, and is observing strong design win momentum and expanding partnerships for routers, gateways, and AirLink services. * Strategic Acquisitions to Enhance Optical Solutions: Semtech's inorganic growth strategy, including the recent acquisition of Hyfo (HieFo), is aimed at bolstering its capabilities in high-bandwidth, low-power optical solutions. This acquisition specifically enhances Semtech's offerings for 1.6T and 3.2T architectures, allowing the company to provide more comprehensive component solutions, including lasers, for the evolving optical transceiver market. * Increased Penetration in Industrial and Infrastructure End-Markets: Beyond specific product lines, Semtech anticipates continued robust performance and growth within its broader industrial and infrastructure end-markets. This includes diversified applications within smart infrastructure, utilities, enterprise networks, and wireless base stations, where the company's analog and mixed-signal semiconductor products provide disruptive solutions and performance differentiation.

AI Analysis | Feedback

Here's a summary of Semtech's capital allocation decisions over the last 3-5 years:

Share Repurchases

Semtech's Board of Directors approved an expansion of its stock repurchase program by an additional $350.0 million on March 11, 2021.
As of January 26, 2025, the remaining authorization under the stock repurchase program was $209.4 million.
The company did not repurchase any shares of its common stock under the program during fiscal year 2025.

Share Issuance

Semtech completed an upsized follow-on offering of common stock in December 2024, generating gross proceeds of approximately $661 million from 10,496,032 shares, including the full exercise of the underwriters' overallotment option. The net proceeds were primarily intended for the repayment of certain indebtedness.
In October 2025, Semtech announced a private offering of $350 million in 0% convertible senior notes due 2030. This offering, along with the issuance of approximately 5.2 million shares of common stock, was primarily used for the exchange of existing convertible senior notes due 2027 and 2028, and to repay a portion of term loans.
Semtech's shares outstanding for the quarter ending October 31, 2025, increased by 16.41% year-over-year to 0.088 billion. Annually, shares outstanding for 2025 were 0.072 billion, an 11.66% increase from 2024.

Outbound Investments

In August 2022, Semtech acquired Sierra Wireless, a provider of communication modules for IoT applications.
In March 2026, Semtech acquired HieFo Corporation, a California-based private manufacturer of high-efficiency Indium Phosphide optoelectronic devices for optical transceivers, for approximately $34 million in cash. This acquisition aims to bolster U.S. technology supply chains and expand Semtech's data center portfolio.
Semtech is focusing on divestitures of non-core assets to reduce leverage and optimize its portfolio, with components of the Sierra Wireless business expected to be sold in the first half of fiscal year 2025.

Capital Expenditures

Quarterly purchases of property, plant & equipment were approximately $2.8 million or less in recent quarters, indicating a modest and disciplined capital intensity.
For fiscal year 2025, Semtech's operating cash flow was $33.5 million and free cash flow was $30.9 million.
In fiscal year 2025, Semtech's capital allocation priorities included strategic investment in research and development to accelerate innovation and drive long-term growth.

Interactive Breakdown

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[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Peer Outperformance in Semiconductors

SMTC has outperformed 69% of its 54 Semiconductors peers over 5Y. Semiconductors ranks 6th of 12 industries in Information Technology by median 5Y return.

Share of Semiconductors constituents that SMTC has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.

91%

of 64 industry peers · 80.3% return

96%

of 57 industry peers · 731.4% return

69%

of 54 industry peers · 39.7% return

No Semiconductors peer with a comparable growth profile has beaten SMTC by more than 20pp over 5Y.

Median price return by industry across the Information Technology sector, ranked by 5Y. Semiconductors is SMTC's own industry. Use this to see which corners of the sector have carried the returns.

Industry	Names	1Y med	3Y med	5Y med	Top 3 by 5Y
Electronic Manufacturing Services	10	18.4%	110.0%	198.4%	FLEX 551% · TTMI 451% · JBL 333%
Technology Distributors	9	43.9%	68.0%	73.2%	AVT 146% · SNX 117% · CNXN 94%
Semiconductor Materials & Equipment	28	37.3%	61.0%	45.7%	AXTI 464% · LRCX 317% · KLAC 313%
Electronic Components	26	-0.6%	66.1%	34.6%	CLS 2294% · BELFA 1195% · APH 329%
Communications Equipment	36	2.5%	73.5%	32.6%	AAOI 695% · LITE 689% · ANET 434%
Semiconductors ←	55	0.0%	44.4%	7.7%	MU 1107% · NVDA 669% · AVGO 555%
Electronic Equipment & Instruments	27	-4.1%	24.7%	3.5%	PI 139% · OSIS 114% · MIR 70%
Internet Services & Infrastructure	6	1.5%	45.7%	-10.1%	GDDY 73% · VRSN 39% · DOCN -3%
Technology Hardware, Storage & Peripherals	21	-3.4%	85.5%	-12.0%	WDC 727% · SMCI 721% · DELL 693%
IT Consulting & Other Services	30	-24.8%	-3.5%	-25.0%	APLD 269% · IBM 152% · ADEA 142%
Application Software	125	-15.8%	-9.8%	-54.8%	PLTR 588% · FROG 159% · AGYS 148%
Systems Software	70	-12.3%	22.2%	-56.2%	CRWD 261% · ZETA 243% · CVLT 145%

Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Semtech Stock Surges 24%, With A 5-Day Winning Spree	05/27/2026
2	MU Beats Semtech Stock on Price & Growth	05/15/2026
3	Semtech Stock On Fire: Up 27% With 5-Day Winning Streak	05/12/2026
4	Is 14.0% Fall In Semtech (SMTC) Stock A Buying Opportunity?	04/29/2026
5	Is ... Fall In Semtech (SMTC) Stock A Buying Opportunity?	03/18/2026
6	Semtech Stock (+10%): 5G IoT Catalyst Meets Low Volume Squeeze	02/03/2026
7	Semtech Earnings Notes	12/29/2026
8	ARTICLES
9	Is Semtech Stock’s Fall A Bargain Or A Warning?	10/23/2026
10	3 Mid Cap Stocks Just Made New 52-Week Highs	10/02/2026
11	A 5-Day Winning Streak Has Semtech Stock Up 24%	09/10/2026
12	Mid Cap Stocks Trading At 52-Week High	06/23/2026
13	The Historical Playbook for Buying a Dip in Semtech Stock	06/18/2026

	Title
0	DASHBOARDS
1	Semtech Stock Surges 24%, With A 5-Day Winning Spree
2	MU Beats Semtech Stock on Price & Growth
3	Semtech Stock On Fire: Up 27% With 5-Day Winning Streak
4	Is 14.0% Fall In Semtech (SMTC) Stock A Buying Opportunity?
5	Is ... Fall In Semtech (SMTC) Stock A Buying Opportunity?
6	Semtech Stock (+10%): 5G IoT Catalyst Meets Low Volume Squeeze
7	Semtech Earnings Notes
8	ARTICLES
9	Is Semtech Stock’s Fall A Bargain Or A Warning?
10	3 Mid Cap Stocks Just Made New 52-Week Highs
11	A 5-Day Winning Streak Has Semtech Stock Up 24%
12	Mid Cap Stocks Trading At 52-Week High
13	The Historical Playbook for Buying a Dip in Semtech Stock

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AAOI	Applied Optoelectronics	5.1	-45.9%	79.3%
FRMI	Fermi	1.4	-45.3%	-72.4%
EOSE	Eos Energy Enterprises	0.6	-45.2%	-84.6%

Peer Comparisons

Peers to compare with:

Financials

	SMTC	SLAB	MCHP	ADI	NXPI	ON	Median
Name	Semtech	Silicon .	Microchi.	Analog D.	NXP Semi.	ON Semic.
Mkt Price	125.73	222.11	77.61	419.99	260.96	71.48	173.92
Mkt Cap	11.7	7.4	42.1	204.1	65.8	27.9	35.0
Rev LTM	1,174	856	5,122	13,882	13,798	6,198	5,660
Op Inc LTM	141	-43	831	4,959	3,940	1,119	975
FCF LTM	184	-5	1,111	4,937	3,333	1,500	1,306
FCF 3Y Avg	97	-5	1,289	3,854	2,567	1,221	1,255
CFO LTM	214	33	1,198	5,545	3,800	1,672	1,435
CFO 3Y Avg	117	19	1,424	4,566	3,216	1,848	1,636

Growth & Margins

	SMTC	SLAB	MCHP	ADI	NXPI	ON	Median
Name	Semtech	Silicon .	Microchi.	Analog D.	NXP Semi.	ON Semic.
Rev Chg LTM	17.8%	21.7%	20.9%	33.6%	14.6%	-3.1%	19.4%
Rev Chg 3Y Avg	13.2%	1.5%	-13.2%	5.4%	2.0%	-9.2%	1.8%
Rev Chg Q	32.7%	18.3%	38.0%	39.6%	19.3%	9.2%	26.0%
QoQ Delta Rev Chg LTM	7.7%	4.3%	8.7%	9.0%	4.6%	2.2%	6.2%
Op Inc Chg LTM	26.0%	61.7%	299.4%	88.6%	31.3%	-0.3%	46.5%
Op Inc Chg 3Y Avg	13.4%	-63.4%	55.6%	19.0%	3.7%	-22.4%	8.5%
Op Mgn LTM	12.0%	-5.1%	16.2%	35.7%	28.6%	18.0%	17.1%
Op Mgn 3Y Avg	4.1%	-17.4%	16.5%	28.1%	27.3%	21.7%	19.1%
QoQ Delta Op Mgn LTM	1.7%	1.7%	5.0%	2.8%	1.2%	0.5%	1.7%
CFO/Rev LTM	18.2%	3.9%	23.4%	39.9%	27.5%	27.0%	25.2%
CFO/Rev 3Y Avg	10.7%	1.4%	25.6%	40.4%	24.7%	27.3%	25.1%
FCF/Rev LTM	15.7%	-0.6%	21.7%	35.6%	24.2%	24.2%	22.9%
FCF/Rev 3Y Avg	8.7%	-1.9%	23.2%	33.8%	19.7%	18.5%	19.1%

Valuation

	SMTC	SLAB	MCHP	ADI	NXPI	ON	Median
Name	Semtech	Silicon .	Microchi.	Analog D.	NXP Semi.	ON Semic.
Mkt Cap	11.7	7.4	42.1	204.1	65.8	27.9	35.0
P/S	10.0	8.6	8.2	14.7	4.8	4.5	8.4
P/Op Inc	83.0	-170.2	50.7	41.2	16.7	24.9	33.1
P/EBIT	190.4	-236.0	53.6	40.4	14.3	35.9	38.1
P/E	76.1	-188.6	88.0	49.4	20.4	44.3	46.8
P/CFO	54.8	222.9	35.1	36.8	17.3	16.7	36.0
Total Yield	1.3%	-0.5%	3.5%	3.1%	6.6%	2.3%	2.7%
Dividend Yield	0.0%	0.0%	2.4%	1.0%	1.6%	0.0%	0.5%
FCF Yield 3Y Avg	1.2%	-0.3%	2.8%	2.7%	4.3%	4.3%	2.7%
D/E	0.0	0.0	0.1	0.0	0.2	0.2	0.1
Net D/E	0.0	-0.1	0.1	0.0	0.1	0.0	0.0

Returns

	SMTC	SLAB	MCHP	ADI	NXPI	ON	Median
Name	Semtech	Silicon .	Microchi.	Analog D.	NXP Semi.	ON Semic.
1M Rtn	-35.5%	-0.3%	-4.6%	0.7%	7.1%	-15.8%	-2.4%
3M Rtn	5.6%	1.9%	3.8%	16.4%	16.9%	-11.1%	4.7%
6M Rtn	17.4%	2.4%	-17.7%	6.4%	-9.5%	-29.9%	-3.6%
12M Rtn	85.3%	69.4%	27.6%	81.6%	27.0%	42.7%	56.1%
3Y Rtn	754.1%	142.6%	9.5%	162.1%	51.6%	4.7%	97.1%
1M Excs Rtn	-33.1%	2.1%	-2.2%	3.1%	9.5%	-13.4%	-0.1%
3M Excs Rtn	-0.1%	4.2%	-0.6%	13.3%	12.9%	-8.9%	2.1%
6M Excs Rtn	12.5%	-2.4%	-22.5%	1.6%	-14.3%	-34.8%	-8.4%
12M Excs Rtn	74.6%	58.1%	17.6%	71.9%	18.0%	29.8%	43.9%
3Y Excs Rtn	635.1%	49.8%	-68.9%	89.9%	-30.2%	-97.6%	9.8%

Comparison Analyses

	Title
0	Semtech Stock vs Competition: Who Wins?
1	SMTC Could Deliver 13% Returns And Outperform ON
2	SMTC Could Deliver 13% Returns And Outperform TXN
3	Why SMTC With 13% Upside May Beat AMAT?
4	Semtech vs. Alnylam Pharmaceuticals: With Return Forecast Of 80%, Alnylam Pharmaceuticals Is A Better Bet
5	Semtech vs. Aspen Technology: With Return Forecast Of 68%, Aspen Technology Is A Better Bet
6	Semtech vs. Paylocity Holding: With Return Forecast Of 48%, Paylocity Holding Is A Better Bet
7	Semtech vs. Skyworks Solutions: Industry Competitors, But Semtech Is A Better Bet
8	Semtech vs Zscaler: Similar Revenue; Which Stock Is A Better Bet?
9	Semtech vs Maxim Integrated Products: Industry Peers; Which Stock Is A Better Bet?

FDIC Bank Data

Financials

Annual
Quarterly

$ Mil \| FY: 1/25	LTM	2026	2025	2024	2023	2022	2021
Period End	7/26/2026	1/25/2026	1/26/2025	1/28/2024	1/29/2023	1/30/2022	1/31/2021
Filing Date	8/26/2026	3/23/2026	3/25/2025	3/28/2024	3/30/2023	3/16/2022	3/24/2021
Key Financials
Total Revenue	1,174	1,050	909	869	757	741	595
Gross Profit	612	542	457	296	479	461	356
EBITDA	107	39	-53	-863	127	178	104
Operating Income	141	123	62	-125	86	145	75
Net Income	154	-40	-162	-1,092	61	126	60
EPS	1.66	-0.46	-2.26	-17.03	0.96	1.94	0.92
Growth Rates
Total Revenue Growth	17.8%	15.5%	4.7%	14.8%	2.1%	24.5%	8.7%
EBITDA Growth	5.8%	175.0%	93.9%	-781.9%	-28.9%	71.7%	6.2%
Operating Income Growth	26.0%	97.7%	149.8%	-245.8%	-40.7%	93.5%	50.9%
Net Income Growth	546.1%	75.1%	85.2%	-1879.1%	-51.2%	109.8%	88.0%
Margins
Gross Margin	52.1%	51.6%	50.2%	34.1%	63.3%	62.2%	59.8%
EBITDA Margin	9.1%	3.8%	-5.8%	-99.3%	16.7%	24.0%	17.4%
Operating Income Margin	12.0%	11.7%	6.9%	-14.4%	11.4%	19.6%	12.6%
Net Income Margin	13.1%	-3.8%	-17.8%	-125.7%	8.1%	17.0%	10.1%
Cash & Debt
Total Cash	204	195	164	143	236	280	269
Total Debt	493	497	558	1,378	1,346	176	183
Net Debt / (Cash)	289	302	393	1,234	1,111	-104	-86
Cash Flows & CapEx
Net Cash from Operations	214	181	58	-94	127	203	119
Total CapEx	-30	-16	-14	-31	-28	-26	-33
Free Cash from Operations	184	165	44	-125	98	177	86
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	50	130	71

$ Mil \| FY: 1/25	2027Q2	2027Q1	2026Q4	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3
Period End	7/26/2026	4/26/2026	1/25/2026	10/26/2025	7/27/2025	4/27/2025	1/26/2025	10/27/2024	7/28/2024	4/28/2024	1/28/2024	10/29/2023
Filing Date	8/26/2026	5/27/2026	3/23/2026	11/25/2025	8/26/2025	5/29/2025	3/25/2025	12/3/2024	8/28/2024	6/5/2024	3/28/2024	12/6/2023
Key Financials Quarterly
Total Revenue	342	291	274	267	258	251	251	237	215	206	193	201
Ebitda	68	38	-18	19	-5	45	31	29	-126	18	-612	11
Operating Income	55	27	27	32	27	37	29	18	9	5	-97	-6
Net Income	160	27	-30	-3	-27	19	39	-8	-170	-23	-642	-38
EPS	1.72	0.29	-0.32	-0.03	-0.31	0.22	0.48	-0.10	-2.61	-0.36	-10.01	-0.60
Key Financials TTM
Total Revenue TTM	1,174	1,090	1,050	1,027	996	954	909	851	815	838	869	843
Ebitda TTM	107	34	42	91	101	-20	-48	-691	-709	-859	-860	-290
Operating Income TTM	141	113	123	125	112	94	62	-64	-89	-110	-125	-74
Net Income TTM	154	-33	-40	29	24	-119	-162	-843	-874	-1,086	-1,092	-501
Growth Rates Quarterly
Total Revenue Growth	32.7%	15.9%	9.3%	12.7%	19.6%	21.8%	30.1%	17.9%	-9.7%	-12.9%	15.2%	13.1%
EBITDA Growth	1594.9%	-16.7%	-158.1%	-33.7%	96.4%	155.2%	105.1%	160.6%	54.4%	4.2%	-1350.4%	-71.8%
Operating Income Growth	103.2%	-27.4%	-7.3%	72.1%	193.2%	586.7%	129.9%	386.0%	183.5%	152.5%	-109.9%	-116.4%
Net Income Growth	691.6%	37.3%	-176.1%	62.3%	84.1%	183.5%	106.1%	80.2%	55.4%	21.3%	-1159.2%	-268.2%
Margins Quarterly
EBITDA Margin	19.8%	12.9%	-6.6%	7.3%	-1.8%	18.0%	12.4%	12.4%	-58.4%	8.6%	-317.2%	5.6%
Operating Income Margin	16.2%	9.3%	9.9%	11.9%	10.6%	14.8%	11.6%	7.8%	4.3%	2.6%	-50.5%	-3.2%
Net Income Margin	46.8%	9.1%	-10.9%	-1.1%	-10.5%	7.7%	15.6%	-3.2%	-79.1%	-11.2%	-332.9%	-19.0%
Cash & Debt
Total Cash	204	163	195	165	169	156	164	137	116	127	143	124
Total Debt	493	492	497	490	519	543	558	1,190	1,193	1,373	1,378	1,374
Net Debt / (Cash)	289	329	302	326	350	386	393	1,054	1,077	1,247	1,234	1,250
Cash Flows Quarterly
FCF from Operations	69	36	61	47	44	28	33	30	-5	-0	14	-6
Cash Flows TTM
FCF from Operations TTM	214	190	181	153	135	86	58	38	3	-4	-94	-127
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	26.7%	12.6%	12.9%	15.7%	13.6%	12.2%	14.4%	7.0%	3.5%	1.7%	-31.4%	-2.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	17.0%	13.3%	15.2%	15.5%	13.9%	10.0%	6.8%	-6.1%	-8.3%	-8.8%	-10.2%	-5.9%

Segment Financials

Revenue by Segment

$ Mil	2026	2025	2024	2023	2022
Analog Mixed Signal and Wireless	373	323	260	443	455
Internet of things (IoT) Systems and Connectivity	354	325	431	15	0
Signal Integrity	323	262	177	298	286
Unallocated	0	0	0
Internet of things (IoT) System Products Group					0
Total	1,050	909	869	757	741

Operating Income by Segment

$ Mil	2021	2020	2019	2018	2017
Semiconductor Products Group	140	125	187	161	126
Changes in the fair value of contingent earn-out obligations	0	2	9	-4	0
Transaction and integration related	-1	-1
Litigation cost, net of recoveries	-1	-1
Restructuring and other reserves	-1	-5
Intangible amortization	-8	-17	-27	-28	-25
Share-based compensation	-53	-52	-74	-48	-31
Other non-segment related expenses			3	-12	-4
Amortization of fair value adjustments related to acquired property, plant and equipment				-0	-2
All others					23
Environmental and other reserves					-1
Restructuring charges					-2
Total	75	52	98	69	84

Price Behavior

Price Behavior

Market Price	$122.38
Market Cap ($ Bil)	11.4
First Trading Date	03/17/1992
Distance from 52W High	-37.9%
	50 Days	200 Days
DMA Price	$157.12	$125.23
DMA Trend	up	up
Distance from DMA	-22.1%	-2.3%
	3M	1YR
Volatility	94.3%	79.7%
Downside Capture	229.38	299.80
Upside Capture	234.25	338.83
Correlation (S&P 500)	31.2%	51.9%

SMTC Betas & Captures as of 10/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	5.04	3.05	2.90	3.60	3.24	2.64
Up Beta	8.57	0.60	0.83	2.85	2.65	2.16
Down Beta	5.02	6.61	6.07	3.87	3.03	2.62
Up Capture	240%	259%	331%	707%	1559%	30073%
Bmk +ve Days	12	18	28	62	130	427
Stock +ve Days	10	23	34	67	134	394
Down Capture	572%	223%	224%	247%	177%	113%
Bmk -ve Days	10	25	36	64	121	325
Stock -ve Days	12	20	30	59	116	356

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with SMTC
SMTC	80.9%	79.7%	1.08	-
Sector ETF (XLK)	16.5%	27.2%	0.53	67.0%
Equity (SPY)	11.6%	12.8%	0.57	52.0%
Gold (GLD)	-2.3%	28.6%	-0.09	23.3%
Commodities (DBC)	43.1%	20.9%	1.60	-6.8%
Real Estate (VNQ)	11.0%	13.7%	0.50	-3.9%
Bitcoin (BTCUSD)	-28.8%	43.6%	-0.66	18.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with SMTC
SMTC	8.8%	67.6%	0.41	-
Sector ETF (XLK)	17.9%	26.1%	0.61	58.0%
Equity (SPY)	12.0%	17.1%	0.52	51.7%
Gold (GLD)	16.5%	19.0%	0.69	12.4%
Commodities (DBC)	8.4%	19.6%	0.31	7.6%
Real Estate (VNQ)	1.1%	18.9%	-0.05	28.2%
Bitcoin (BTCUSD)	4.1%	51.6%	0.26	22.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with SMTC
SMTC	17.3%	56.6%	0.52	-
Sector ETF (XLK)	23.3%	25.2%	0.84	60.7%
Equity (SPY)	15.2%	17.9%	0.72	55.5%
Gold (GLD)	11.6%	16.5%	0.57	8.8%
Commodities (DBC)	7.8%	18.1%	0.34	15.8%
Real Estate (VNQ)	5.4%	20.7%	0.22	33.7%
Bitcoin (BTCUSD)	61.7%	66.3%	1.01	15.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	10152026
Short Interest: Shares Quantity	6.0 Mil
Short Interest: % Change Since 9302026	-3.1%
Average Daily Volume	3.9 Mil
Days-to-Cover Short Interest	1.6 days
Basic Shares Quantity	93.3 Mil
Short % of Basic Shares	6.5%

Returns Analyses

	Title
0	Is Semtech Stock Built to Withstand a Pullback?
1	Semtech Stock Return Comparison
2	[10/8/2021] Semtech (SMTC) Stock Price Forecast: AI Forecasts SMTC Stock Price To Be Around $79.40 In A Month (Up 2.4%)
3	Semtech (SMTC) Stock Return: AI Predicts SMTC Average and Excess Return After a Fall or Rise

Earnings Returns History

Updated 9/27/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/25/2026	10.4%	3.7%	36.8%
5/26/2026	-4.4%	1.3%	-1.3%
3/16/2026	-11.0%	-14.0%	4.8%
11/24/2025	2.5%	4.9%	8.2%
8/25/2025	15.1%	13.3%	17.3%
5/27/2025	-4.6%	-1.7%	17.6%
3/13/2025	21.1%	24.2%	-18.7%
11/25/2024	18.1%	25.3%	22.9%
...
SUMMARY STATS
# Positive	14	15	14
# Negative	10	9	10
Median Positive	8.6%	5.5%	17.5%
Median Negative	-5.2%	-14.0%	-15.6%
Max Positive	21.1%	28.7%	36.8%
Max Negative	-27.1%	-33.1%	-39.3%

Collapse to Preview

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/25/2026	10.4%	3.7%	36.8%
5/26/2026	-4.4%	1.3%	-1.3%
3/16/2026	-11.0%	-14.0%	4.8%
11/24/2025	2.5%	4.9%	8.2%
8/25/2025	15.1%	13.3%	17.3%
5/27/2025	-4.6%	-1.7%	17.6%
3/13/2025	21.1%	24.2%	-18.7%
11/25/2024	18.1%	25.3%	22.9%
8/27/2024	11.2%	11.3%	24.2%
6/5/2024	-1.8%	-21.5%	-12.6%
3/28/2024	6.8%	18.4%	34.8%
12/6/2023	16.3%	28.7%	25.9%
10/19/2023	-19.8%	-23.3%	-20.1%
6/7/2023	4.9%	2.9%	19.8%
3/29/2023	-21.4%	-33.1%	-39.3%
11/30/2022	-3.0%	-6.7%	-6.7%
8/31/2022	-27.1%	-26.6%	-36.3%
6/1/2022	-0.0%	-5.8%	-19.3%
3/16/2022	4.1%	3.3%	-7.2%
12/1/2021	2.9%	4.6%	2.6%
9/1/2021	10.9%	5.5%	10.9%
6/2/2021	5.1%	7.8%	9.9%
3/17/2021	-5.8%	-10.0%	-3.6%
12/2/2020	2.2%	2.3%	4.8%
SUMMARY STATS
# Positive	14	15	14
# Negative	10	9	10
Median Positive	8.6%	5.5%	17.5%
Median Negative	-5.2%	-14.0%	-15.6%
Max Positive	21.1%	28.7%	36.8%
Max Negative	-27.1%	-33.1%	-39.3%

SEC Filings

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Report Date	Filing Date	Filing
07/31/2026	08/26/2026	10-Q
04/30/2026	05/27/2026	10-Q
01/31/2026	03/23/2026	10-K
10/31/2025	11/25/2025	10-Q
07/31/2025	08/26/2025	10-Q
04/30/2025	05/29/2025	10-Q
01/31/2025	03/25/2025	10-K
10/31/2024	12/03/2024	10-Q
07/31/2024	08/28/2024	10-Q
04/30/2024	06/05/2024	10-Q
01/31/2024	03/28/2024	10-K
10/31/2023	12/06/2023	10-Q
07/31/2023	09/13/2023	10-Q
04/30/2023	06/07/2023	10-Q
01/31/2023	03/30/2023	10-K
10/31/2022	11/30/2022	10-Q

Collapse to Preview

Report Date	Filing Date	Filing
07/31/2026	08/26/2026	10-Q
04/30/2026	05/27/2026	10-Q
01/31/2026	03/23/2026	10-K
10/31/2025	11/25/2025	10-Q
07/31/2025	08/26/2025	10-Q
04/30/2025	05/29/2025	10-Q
01/31/2025	03/25/2025	10-K
10/31/2024	12/03/2024	10-Q
07/31/2024	08/28/2024	10-Q
04/30/2024	06/05/2024	10-Q
01/31/2024	03/28/2024	10-K
10/31/2023	12/06/2023	10-Q
07/31/2023	09/13/2023	10-Q
04/30/2023	06/07/2023	10-Q
01/31/2023	03/30/2023	10-K
10/31/2022	11/30/2022	10-Q
07/31/2022	08/31/2022	10-Q
04/30/2022	06/01/2022	10-Q
01/31/2022	03/16/2022	10-K
10/31/2021	12/01/2021	10-Q
07/31/2021	09/01/2021	10-Q
04/30/2021	06/02/2021	10-Q
01/31/2021	03/24/2021	10-K
10/31/2020	12/02/2020	10-Q
07/31/2020	08/26/2020	10-Q
04/30/2020	05/27/2020	10-Q
01/31/2020	03/20/2020	10-K
10/31/2019	12/04/2019	10-Q

Recent Forward Guidance

Updated 11/2/2026

Latest: Q2 2027 Earnings Reported 8/25/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q3 2027 Net sales	Reported	405.00 Mil	410.00 Mil		25.0%		Higher New	Guidance: 328.00 Mil for Q2 2027
Q3 2027 Adjusted gross margin	Reported		58.3%			4.3%	Higher New	Guidance: 54.0% for Q2 2027
Q3 2027 Adjusted operating expenses, net	Reported		112.00 Mil
Q3 2027 Adjusted operating income	Reported		127.00 Mil		76.6%		Higher New	Guidance: 71.90 Mil for Q2 2027
Q3 2027 Adjusted operating margin	Reported		31.0%			-23.0%	Lower New	Guidance: 54.0% for Q2 2027
Q3 2027 Adjusted EBITDA	Reported		134.30 Mil		69.6%		Higher New	Guidance: 79.20 Mil for Q2 2027
Q3 2027 Adjusted EBITDA margin	Reported		32.8%
Q3 2027 Adjusted diluted earnings per share	Reported		1.05		72.1%		Higher New	Guidance: 0.61 for Q2 2027

Prior: Q1 2027 Earnings Reported 5/26/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2027 Net sales	Reported	323.00 Mil	328.00 Mil	333.00 Mil	15.9%		Higher New	Guidance: 283.00 Mil for Q1 2027
Q2 2027 Gross Profit	Calculated	172.81 Mil	177.12 Mil	181.49 Mil				Rev x Gross Margin
Q2 2027 Adjusted gross margin	Reported	53.5%	54.0%	54.5%		1.2%	Higher New	Guidance: 52.8% for Q1 2027
Q2 2027 Adjusted operating income	Reported	69.60 Mil	71.90 Mil	74.20 Mil	37.0%		Higher New	Guidance: 52.50 Mil for Q1 2027
Q2 2027 Adjusted EBITDA	Reported	76.90 Mil	79.20 Mil	81.50 Mil	33.1%		Higher New	Guidance: 59.50 Mil for Q1 2027
Q2 2027 Adjusted diluted earnings per share	Reported	0.59	0.61	0.63	35.6%		Higher New	Guidance: 0.45 for Q1 2027

Q4 2026 Earnings Reported 3/16/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q1 2027 Net sales	Reported	278.00 Mil	283.00 Mil	288.00 Mil	3.7%		Higher New	Guidance: 273.00 Mil for Q4 2026
Q1 2027 Gross Profit	Calculated	145.39 Mil	149.42 Mil	153.50 Mil				Rev x Gross Margin
Q1 2027 Adjusted gross margin	Reported	52.3%	52.8%	53.3%		1.6%	Higher New	Guidance: 51.2% for Q4 2026
Q1 2027 Adjusted operating expenses, net	Reported	95.90 Mil	96.90 Mil	97.90 Mil	6.2%		Higher New	Guidance: 91.20 Mil for Q4 2026
Q1 2027 Adjusted operating income	Reported	49.50 Mil	52.50 Mil	55.50 Mil	8.0%		Higher New	Guidance: 48.60 Mil for Q4 2026
Q1 2027 Operating Income	Calculated	47.49 Mil	52.52 Mil	57.60 Mil				Rev x Gross Margin - Opex
Q1 2027 Adjusted operating margin	Reported	17.9%	18.6%	19.3%		0.8%	Higher New	Guidance: 17.8% for Q4 2026
Q1 2027 Operating Margin	Calculated	17.08%	18.56%	20.0%				Implied by guided Rev/GM/Opex
Q1 2027 Adjusted EBITDA	Reported	56.50 Mil	59.50 Mil	62.50 Mil	6.2%		Higher New	Guidance: 56.00 Mil for Q4 2026
Q1 2027 Adjusted diluted earnings per share	Reported	0.42	0.45	0.48	4.7%		Higher New	Guidance: 0.43 for Q4 2026
2027 Adjusted normalized tax rate	Reported		17.0%

Q3 2026 Earnings Reported 11/24/2025

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q4 2026 Net sales	Reported	268.00 Mil	273.00 Mil	278.00 Mil	2.6%		Higher New	Guidance: 266.00 Mil for Q3 2026
Q4 2026 Gross Profit	Calculated	135.88 Mil	139.78 Mil	143.73 Mil				Rev x Gross Margin
Q4 2026 Adjusted gross margin	Reported	50.7%	51.2%	51.7%		-1.8%	Lower New	Guidance: 53.0% for Q3 2026
Q4 2026 Total semiconductor products gross margin	Reported	60.0%	60.5%	61.0%
Q4 2026 Adjusted operating expenses, net	Reported	90.20 Mil	91.20 Mil	92.20 Mil	2.7%		Higher New	Guidance: 88.80 Mil for Q3 2026
Q4 2026 Adjusted operating income	Reported	45.60 Mil	48.60 Mil	51.60 Mil	-6.9%		Lower New	Guidance: 52.20 Mil for Q3 2026
Q4 2026 Adjusted operating margin	Reported	17.0%	17.8%	18.6%		-1.8%	Lower New	Guidance: 19.6% for Q3 2026
Q4 2026 Adjusted EBITDA	Reported	53.00 Mil	56.00 Mil	59.00 Mil	-6.7%		Lower New	Guidance: 60.00 Mil for Q3 2026
Q4 2026 Adjusted EBITDA margin	Reported	19.7%	20.5%	21.3%		-2.0%	Lower New	Guidance: 22.5% for Q3 2026
Q4 2026 Adjusted diluted earnings per share	Reported	0.4	0.43	0.46	-2.3%		Lower New	Guidance: 0.44 for Q3 2026

Insider Activity

Updated 10/9/2026

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Green, Jason Elliot	EVP and CCO	Direct	Sell	10092026	190.35	2,766	526,508	1,402,308	Form
2	Hou, Hong Q	President and CEO	Direct	Sell	10052026	191.21	2,000	382,420	12,615,271	Form
3	Lin, Mark	EVP and CFO	Direct	Sell	10052026	178.87	967	172,967	6,439,141	Form
4	Walsh, Paul V JR		Direct	Sell	9252026	172.61	500	86,305	4,591,426	Form
5	Cardenuto, Rodolpho C		Direct	Sell	9182026	165.00	5,321			Form

Collapse to Preview

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Green, Jason Elliot	EVP and CCO	Direct	Sell	10092026	190.35	2,766	526,508	1,402,308	Form
2	Hou, Hong Q	President and CEO	Direct	Sell	10052026	191.21	2,000	382,420	12,615,271	Form
3	Lin, Mark	EVP and CFO	Direct	Sell	10052026	178.87	967	172,967	6,439,141	Form
4	Walsh, Paul V JR		Direct	Sell	9252026	172.61	500	86,305	4,591,426	Form
5	Cardenuto, Rodolpho C		Direct	Sell	9182026	165.00	5,321			Form
6	Lin, Mark	EVP and CFO	Direct	Sell	9142026	159.90	683	109,212	5,655,023	Form
7	Ruehl, Julie Garcia		Direct	Sell	9092026	145.00	1,500	217,500	1,035,300	Form
8	Hou, Hong Q	President and CEO	Direct	Sell	9092026	138.71	2,000	277,420	8,433,429	Form
9	Walsh, Paul V JR		Direct	Sell	8212026	135.48	500	67,740	3,671,508	Form
10	Silberstein, Asaf	EVP and COO	by Family Trust	Sell	8192026	150.00	5,000	750,000	13,329,300	Form
11	Hou, Hong Q	President and CEO	Direct	Sell	8112026	140.00	2,000	280,000	8,791,860	Form
12	Walsh, Paul V JR		Direct	Sell	7242026	133.07	500	66,535	3,672,732	Form
13	Silberstein, Asaf	EVP and COO	by Family Trust	Sell	7162026	145.04	3,000	435,120	13,613,744	Form
14	Hou, Hong Q	President and CEO	Direct	Sell	7142026	133.00	2,000	266,000	8,618,267	Form
15	Silberstein, Asaf	EVP and COO	by Family Trust	Sell	7102026	127.80	8,500	1,086,319	12,379,179	Form
16	Green, Jason Elliot	EVP and CCO	Direct	Sell	7092026	129.90	2,264	294,086	1,118,539	Form
17	Lin, Mark	EVP and CFO	Direct	Sell	7062026	150.41	970	145,893	5,248,533	Form
18	Fischer, Gregory Michael		Direct	Sell	7022026	156.24	1,500	234,360	887,131	Form
19	Hou, Hong Q	President and CEO	Direct	Sell	7012026	152.57	9,605	1,465,408	9,705,562	Form
20	Walsh, Paul V JR		Direct	Sell	6262026	164.99	500	82,495	4,636,219	Form
21	Wilson, John Michael	Chief Quality Officer and CTO	Direct	Sell	6242026	170.00	5,500	935,000	13,748,920	Form
22	Lin, Mark	EVP and CFO	Direct	Sell	6122026	155.16	683	105,974	5,316,247	Form
23	Hou, Hong Q	President and CEO	Direct	Sell	6092026	162.10	2,000	324,200	11,221,859	Form
24	Silberstein, Asaf	EVP and COO	Direct	Sell	6052026	164.00	2,000	328,000	17,083,060	Form
25	Li, Ye Jane		Direct	Sell	6012026	166.84	5,285	881,758	121,628	Form
26	Fischer, Gregory Michael		Direct	Sell	6012026	164.69	1,000	164,685	305,820	Form
27	Walsh, Paul V JR		Direct	Sell	5222026	138.21	500	69,105	3,217,391	Form
28	Hou, Hong Q	President and CEO	Direct	Sell	5052026	103.01	2,000	206,020	7,337,196	Form
29	Walsh, Paul V JR		Direct	Sell	4242026	105.93	500	52,965	2,518,909	Form
30	Burvill, Martin		Direct	Sell	4132026	88.98	2,500	222,449	392,311	Form
31	Lin, Mark	EVP and CFO	Direct	Sell	4022026	78.42	974	76,381	2,614,758	Form
32	Green, Jason Elliot	EVP and CCO	Direct	Sell	4022026	81.73	7,500	612,992	720,143	Form
33	Lin, Mark	EVP and CFO	Direct	Sell	3252026	75.05	9,186	689,409	2,454,886	Form
34	Walsh, Paul V JR		Direct	Sell	3202026	80.87	500	40,435	1,963,443	Form
35	Lin, Mark	EVP and CFO	Direct	Sell	3122026	87.24	3,908	340,934	2,315,001	Form
36	Lin, Mark	EVP and CFO	Direct	Sell	3122026	85.27	2,734	233,128	2,595,960	Form
37	Lin, Mark	EVP and CFO	Direct	Sell	3092026	83.75	6,582	551,242	1,852,969	Form
38	Walsh, Paul V JR		Direct	Sell	2202026	88.24	500	44,120	2,186,499	Form
39	Silberstein, Asaf	EVP and COO	Direct	Sell	2112026	92.00	10,000	920,000	6,301,632	Form
40	Silberstein, Asaf	EVP and COO	Direct	Sell	2042026	88.00	10,000	880,000	6,907,648	Form
41	Silberstein, Asaf	EVP and COO	Direct	Sell	1262026	83.00	5,000	415,000	7,345,168	Form
42	Walsh, Paul V JR		Direct	Sell	1232026	78.25	500	39,125	1,978,082	Form
43	Fischer, Gregory Michael		Direct	Sell	1132026	75.50	1,034	78,067	215,704	Form
44	Wilson, John Michael	Chief Quality Officer and CTO	Direct	Sell	1122026	75.12	5,000	375,600	4,512,158	Form
45	Lin, Mark	EVP and CFO	Direct	Sell	1062026	76.20	1,333	101,575	1,407,947	Form
46	Walsh, Paul V JR		Direct	Sell	12192025	71.61	500	35,805	1,846,034	Form
47	Silberstein, Asaf	EVP and COO	Direct	Sell	12092025	79.64	10,500	836,246	7,446,253	Form
48	Hou, Hong Q	President and CEO	Direct	Sell	12052025	74.08	10,000	740,768	1,597,022	Form
49	Walsh, Paul V JR		Direct	Sell	11212025	63.08	500	31,540	1,657,679	Form
50	Walsh, Paul V JR		Direct	Sell	10242025	66.24	500	33,120	1,773,841	Form
51	Lin, Mark	EVP and CFO	Direct	Sell	10032025	72.83	971	70,713	1,299,492	Form

Investor Activity (13F)

Updated Nov 3, 2026

13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Silverback Asset Management LLC	$26.7 Mil	5.3%	45	ADD +63.7%	13F
Park West Asset Management LLC	$29.6 Mil	2.6%	48	New	13F
Broad Bay Capital Management, LP	$24.3 Mil	2.5%	24	New	13F
Dorsal Capital Management, LP	$61.5 Mil	2.4%	25	New	13F
Think Investments LP	$16.7 Mil	2.3%	30	TRIM -67.4%	13F
E20 Capital Ltd	$21.8 Mil	2.0%	22	New	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Dorsal Capital Management, LP	$61.5 Mil	2.4%	25	New	13F
Park West Asset Management LLC	$29.6 Mil	2.6%	48	New	13F
Broad Bay Capital Management, LP	$24.3 Mil	2.5%	24	New	13F
E20 Capital Ltd	$21.8 Mil	2.0%	22	New	13F
Silverback Asset Management LLC	$26.7 Mil	5.3%	45	ADD +63.7%	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	As Of	Filing
Whale Rock Capital Management LLC	$287.5 Mil	3.7%	32	Exited	Dec 31, 2025	13F
Alta Park Capital, LP	$20.9 Mil	2.5%	34	Exited	Dec 31, 2025	13F
Think Investments LP	$16.7 Mil	2.3%	30	TRIM -67.4%	Mar 31, 2026	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Dorsal Capital Management, LP	$61.5 Mil	2.4%	25	New	13F
Park West Asset Management LLC	$29.6 Mil	2.6%	48	New	13F
Silverback Asset Management LLC	$26.7 Mil	5.3%	45	ADD +63.7%	13F
Broad Bay Capital Management, LP	$24.3 Mil	2.5%	24	New	13F
E20 Capital Ltd	$21.8 Mil	2.0%	22	New	13F
Think Investments LP	$16.7 Mil	2.3%	30	TRIM -67.4%	13F

SMTC Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

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Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Status	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

Diversification Alternatives

How Is The Market Pricing SMTC?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What SMTC Makes & Who Pays

TTM figures based on

SMTC Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Semtech — Investor Video Playlist

Products & Services

LRO or LPO? Choosing the Right Solution for AI Data Center Infrastructure

Semtech Corporation · 2026-06-09

Investor / Analyst

Semtech (SMTC|$13.6B) - 2027 Q1 Earnings Analysis

SmartStockWatch · 2026-05-26

Products & Services

Future-Proofing 5G IoT: Choosing the Right Technology | MWCB26 IoT Summit - Nicolas Damour

Semtech Corporation · 2026-03-24

Investor / Analyst

SMTC Q1 FY26: Record Sales, AI & Margin Jump

TalkTickers: AI Podcast Discussing Earnings Calls · 2025-06-01

Products & Services

SGP.32 Explained How Semtech is Powering Seamless Connectivity - Part-4

Semtech Corporation · 2025-04-16

Products & Services

Introducing PerSe: Technology That Makes More Sense

Semtech Corporation · 2024-04-16

Industry Resources

Information Technology Resources

TechCrunch

Wired

CIO

MIT Technology Review

Gartner Insights

Ars Technica

Semiconductors Resources

EE Times

Semiconductor Engineering

Semiconductor Digest

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Core Cache Last Updated: 11/2/2026

Semtech (SMTC)

Market Price (11/3/2026): $126.8 | Market Cap: $11.8 BilSector: Information Technology | Industry: Semiconductors

Semtech (SMTC)

Market Price (11/3/2026): $126.8Market Cap: $11.8 BilSector: Information TechnologyIndustry: Semiconductors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

SMTC in ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Semtech (SMTC)

Signal Integrity Products

Protection Products

Wireless and Sensing Products

Power Products

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. Semtech (SMTC)

INDUSTRY: Semiconductors

Higher Rev Chg 3Y Avg | Lower P/S (Values for SMTC: 13.2% | 9.7x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SMTC: 13.2% | 80.8x)

Higher Rev Chg LTM (Value for SMTC: 17.8%)

Higher Rev Chg 3Y Avg (Value for SMTC: 13.2%)

Higher Op Mgn LTM (Value for SMTC: 12.0%)

Higher CFO/Rev LTM (Value for SMTC: 18.2%)

Higher FCF/Rev LTM (Value for SMTC: 15.7%)

Higher Total Yield (Value for SMTC: 1.3%)

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for SMTC: 13.2% | 9.7x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SMTC: 13.2% | 80.8x)

Higher Rev Chg LTM (Value for SMTC: 17.8%)

Higher Rev Chg 3Y Avg (Value for SMTC: 13.2%)

Higher Op Mgn LTM (Value for SMTC: 12.0%)

Higher CFO/Rev LTM (Value for SMTC: 18.2%)

Higher FCF/Rev LTM (Value for SMTC: 15.7%)

Higher Total Yield (Value for SMTC: 1.3%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for SMTC: 13.2% | 9.7x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SMTC: 13.2% | 80.8x)

Higher Rev Chg LTM (Value for SMTC: 17.8%)

Higher Rev Chg 3Y Avg (Value for SMTC: 13.2%)

Higher Op Mgn LTM (Value for SMTC: 12.0%)

Higher CFO/Rev LTM (Value for SMTC: 18.2%)

Higher FCF/Rev LTM (Value for SMTC: 15.7%)

Higher Total Yield (Value for SMTC: 1.3%)

Best Bets in Information Technology

P/EBIT (Value for SMTC: 185.4x)

P/E (Value for SMTC: 74.1x)

Rev Chg 3Y Avg (Value for SMTC: 13.2%)

Rev Chg LTM (Value for SMTC: 17.8%)

Rev Chg Q (Value for SMTC: 32.7%)

FCF/Rev 3Y Avg (Value for SMTC: 8.7%)

Peer Outperformance in Semiconductors

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Market Price (11/3/2026): $126.8
Market Cap: $11.8 Bil
Sector: Information Technology
Industry: Semiconductors