Semtech (SMTC)
Market Price (8/26/2026): $125.0 | Market Cap: $11.6 BilSector: Information Technology | Industry: Semiconductors
Semtech (SMTC)
Market Price (8/26/2026): $125.0Market Cap: $11.6 BilSector: Information TechnologyIndustry: Semiconductors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15% Megatrend and thematic driversMegatrends include Artificial Intelligence, Smart Grids & Grid Modernization, and 5G & Advanced Connectivity. Themes include Data Centers & Infrastructure, Show more. | Stock price has recently run up significantly12M Rtn12 month market price return is 150% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 60% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.5% Key risksSMTC key risks include [1] significant financial and operational strain from the Sierra Wireless acquisition, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Smart Grids & Grid Modernization, and 5G & Advanced Connectivity. Themes include Data Centers & Infrastructure, Show more. |
| Stock price has recently run up significantly12M Rtn12 month market price return is 150% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 60% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.5% |
| Key risksSMTC key risks include [1] significant financial and operational strain from the Sierra Wireless acquisition, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 8/25/2026
Semtech (SMTC) stock has gained about 20% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q1 2027 Earnings Beat and Upbeat Guidance.
Semtech reported better-than-expected financial results for fiscal Q1 2027 (ended April 30, 2026) on May 26, 2026. The company announced revenue of $291 million, a 16% increase year-over-year, and adjusted earnings per share (EPS) of $0.51, up 34% year-over-year, both surpassing analyst forecasts. Notably, data center revenue reached a record $71.6 million, growing 39% annually, contributing to a positive outlook for fiscal Q2.
2. Positive Analyst Sentiment and Significant Price Target Revisions.
Following the strong fiscal Q1 2027 results, several prominent analysts raised their ratings or substantially increased price targets for Semtech. For instance, on May 27, 2026, Craig-Hallum raised its price target for SMTC from $105.00 to $205.00. Similarly, UBS Group increased its price target from $165.00 to $225.00 on the same date, reflecting heightened confidence in the company's future performance.
Show more
Semtech (SMTC) stock has gained about 20% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q1 2027 Earnings Beat and Upbeat Guidance.
Semtech reported better-than-expected financial results for fiscal Q1 2027 (ended April 30, 2026) on May 26, 2026. The company announced revenue of $291 million, a 16% increase year-over-year, and adjusted earnings per share (EPS) of $0.51, up 34% year-over-year, both surpassing analyst forecasts. Notably, data center revenue reached a record $71.6 million, growing 39% annually, contributing to a positive outlook for fiscal Q2.
2. Positive Analyst Sentiment and Significant Price Target Revisions.
Following the strong fiscal Q1 2027 results, several prominent analysts raised their ratings or substantially increased price targets for Semtech. For instance, on May 27, 2026, Craig-Hallum raised its price target for SMTC from $105.00 to $205.00. Similarly, UBS Group increased its price target from $165.00 to $225.00 on the same date, reflecting heightened confidence in the company's future performance.
Show more
Updated on 8/25/2026
Semtech (SMTC) stock has gained about 20% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q1 2027 Earnings Beat and Upbeat Guidance.
Semtech reported better-than-expected financial results for fiscal Q1 2027 (ended April 30, 2026) on May 26, 2026. The company announced revenue of $291 million, a 16% increase year-over-year, and adjusted earnings per share (EPS) of $0.51, up 34% year-over-year, both surpassing analyst forecasts. Notably, data center revenue reached a record $71.6 million, growing 39% annually, contributing to a positive outlook for fiscal Q2.
2. Positive Analyst Sentiment and Significant Price Target Revisions.
Following the strong fiscal Q1 2027 results, several prominent analysts raised their ratings or substantially increased price targets for Semtech. For instance, on May 27, 2026, Craig-Hallum raised its price target for SMTC from $105.00 to $205.00. Similarly, UBS Group increased its price target from $165.00 to $225.00 on the same date, reflecting heightened confidence in the company's future performance.
3. Strategic Focus on High-Growth Data Center and IoT Markets with Portfolio Optimization.
Semtech intensified its strategic focus on the high-growth AI data center networking and Internet of Things (IoT) markets. A key move was the definitive agreement to sell its cellular module business to Compal Electronics for $62 million in cash, announced on August 11, 2026. This divestiture is aimed at streamlining the company's portfolio and is expected to enhance margins. Concurrently, Semtech expanded its LoRa Plus™ family, with new LR2022 and LR2012 transceivers entering full production, further solidifying its IoT offerings.
4. Exceptional Fiscal Q2 2027 Performance and Robust Q3 Guidance.
Semtech reported record financial results for fiscal Q2 2027 (ended July 31, 2026) on August 25, 2026. The company achieved revenue of $341.9 million and adjusted EPS of $0.71, significantly exceeding consensus estimates of $328.7 million and $0.61, respectively. Revenue from the Signal Integrity segment surged 64% year-over-year to $126.2 million. The company also provided a strong outlook for fiscal Q3 2027, projecting adjusted EPS between $1.02 and $1.08 on revenue between $405 million and $415 million, which was notably above prior analyst expectations.
Show less
Semtech (SMTC) stock has gained about 20% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q1 2027 Earnings Beat and Upbeat Guidance.
Semtech reported better-than-expected financial results for fiscal Q1 2027 (ended April 30, 2026) on May 26, 2026. The company announced revenue of $291 million, a 16% increase year-over-year, and adjusted earnings per share (EPS) of $0.51, up 34% year-over-year, both surpassing analyst forecasts. Notably, data center revenue reached a record $71.6 million, growing 39% annually, contributing to a positive outlook for fiscal Q2.
2. Positive Analyst Sentiment and Significant Price Target Revisions.
Following the strong fiscal Q1 2027 results, several prominent analysts raised their ratings or substantially increased price targets for Semtech. For instance, on May 27, 2026, Craig-Hallum raised its price target for SMTC from $105.00 to $205.00. Similarly, UBS Group increased its price target from $165.00 to $225.00 on the same date, reflecting heightened confidence in the company's future performance.
3. Strategic Focus on High-Growth Data Center and IoT Markets with Portfolio Optimization.
Semtech intensified its strategic focus on the high-growth AI data center networking and Internet of Things (IoT) markets. A key move was the definitive agreement to sell its cellular module business to Compal Electronics for $62 million in cash, announced on August 11, 2026. This divestiture is aimed at streamlining the company's portfolio and is expected to enhance margins. Concurrently, Semtech expanded its LoRa Plus™ family, with new LR2022 and LR2012 transceivers entering full production, further solidifying its IoT offerings.
4. Exceptional Fiscal Q2 2027 Performance and Robust Q3 Guidance.
Semtech reported record financial results for fiscal Q2 2027 (ended July 31, 2026) on August 25, 2026. The company achieved revenue of $341.9 million and adjusted EPS of $0.71, significantly exceeding consensus estimates of $328.7 million and $0.61, respectively. Revenue from the Signal Integrity segment surged 64% year-over-year to $126.2 million. The company also provided a strong outlook for fiscal Q3 2027, projecting adjusted EPS between $1.02 and $1.08 on revenue between $405 million and $415 million, which was notably above prior analyst expectations.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 21.4% change in SMTC stock from 4/30/2026 to 8/25/2026 was primarily driven by a 17.2% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 8252026 | Change |
|---|---|---|---|
| Stock Price ($) | 105.05 | 127.52 | 21.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,050 | 1,090 | 3.8% |
| P/S Multiple | 9.3 | 10.9 | 17.2% |
| Shares Outstanding (Mil) | 93 | 93 | -0.3% |
| Cumulative Contribution | 21.4% |
Market Drivers
4/30/2026 to 8/25/2026| Return | Correlation | |
|---|---|---|
| SMTC | 21.4% | |
| Market (SPY) | 6.6% | 52.8% |
| Sector (XLK) | 13.9% | 70.6% |
Fundamental Drivers
The 59.9% change in SMTC stock from 1/31/2026 to 8/25/2026 was primarily driven by a 59.6% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8252026 | Change |
|---|---|---|---|
| Stock Price ($) | 79.75 | 127.52 | 59.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,027 | 1,090 | 6.2% |
| P/S Multiple | 6.8 | 10.9 | 59.6% |
| Shares Outstanding (Mil) | 88 | 93 | -5.6% |
| Cumulative Contribution | 59.9% |
Market Drivers
1/31/2026 to 8/25/2026| Return | Correlation | |
|---|---|---|
| SMTC | 59.9% | |
| Market (SPY) | 11.0% | 54.6% |
| Sector (XLK) | 26.5% | 67.8% |
Fundamental Drivers
The 149.5% change in SMTC stock from 7/31/2025 to 8/25/2026 was primarily driven by a 134.8% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8252026 | Change |
|---|---|---|---|
| Stock Price ($) | 51.10 | 127.52 | 149.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 954 | 1,090 | 14.2% |
| P/S Multiple | 4.6 | 10.9 | 134.8% |
| Shares Outstanding (Mil) | 86 | 93 | -7.0% |
| Cumulative Contribution | 149.5% |
Market Drivers
7/31/2025 to 8/25/2026| Return | Correlation | |
|---|---|---|
| SMTC | 149.5% | |
| Market (SPY) | 22.2% | 53.7% |
| Sector (XLK) | 38.9% | 64.1% |
Fundamental Drivers
The 336.7% change in SMTC stock from 7/31/2023 to 8/25/2026 was primarily driven by a 360.6% change in the company's P/S Multiple.| (LTM values as of) | 7312023 | 8252026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.20 | 127.52 | 336.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 791 | 1,090 | 37.8% |
| P/S Multiple | 2.4 | 10.9 | 360.6% |
| Shares Outstanding (Mil) | 64 | 93 | -31.2% |
| Cumulative Contribution | 336.7% |
Market Drivers
7/31/2023 to 8/25/2026| Return | Correlation | |
|---|---|---|
| SMTC | 336.7% | |
| Market (SPY) | 73.2% | 53.7% |
| Sector (XLK) | 107.6% | 58.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SMTC Return | 23% | -68% | -24% | 182% | 19% | 64% | 68% |
| Peers Return | 53% | -19% | 27% | -13% | 8% | 32% | 95% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| SMTC Win Rate | 58% | 25% | 50% | 67% | 58% | 75% | |
| Peers Win Rate | 63% | 35% | 60% | 35% | 47% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SMTC Max Drawdown | -29% | -71% | -61% | -32% | -68% | -41% | |
| Peers Max Drawdown | -19% | -36% | -33% | -31% | -42% | -28% | |
| 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 8/25/2026 (YTD)
How Low Can It Go
| 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 |
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.
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Asset Allocation
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| 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 |
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)
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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.
```AI Analysis | Feedback
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)
- UMC (UMC)
- Samsung Electronics Co., Ltd. (SSNLF)
- ASE Technology Holding Co., Ltd. (ASX)
- Amkor Technology, Inc. (AMKR)
- Siliconware Precision Industries Co., Ltd.
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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.
```AI Analysis | Feedback
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.
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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.
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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.
Peer Outperformance in Semiconductors
SMTC has outperformed 66% of its 53 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.
1Y
89%
of 64 industry peers · 150.0% return
3Y
97%
of 58 industry peers · 403.8% return
5Y
66%
of 53 industry peers · 87.3% 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 | 9 | 56.8% | 200.8% | 340.9% | FLEX 718% · TTMI 700% · JBL 417% |
| Semiconductor Materials & Equipment | 27 | 133.6% | 72.2% | 106.6% | AEHR 1244% · AXTI 639% · KLAC 477% |
| Technology Distributors | 9 | 25.6% | 56.1% | 67.7% | CLMB 319% · AVT 145% · SNX 110% |
| Electronic Components | 26 | 56.0% | 60.0% | 55.1% | CLS 3261% · BELFA 1291% · LPTH 547% |
| Communications Equipment | 35 | 31.5% | 87.3% | 40.2% | AAOI 1496% · LITE 936% · ANET 727% |
| Semiconductors ← | 54 | 29.5% | 31.1% | 28.7% | POET 1884% · MU 1215% · NVDA 869% |
| Technology Hardware, Storage & Peripherals | 22 | 33.0% | 83.3% | 22.1% | STX 1026% · SMCI 1000% · DELL 872% |
| Internet Services & Infrastructure | 6 | 23.3% | 42.4% | 16.7% | DOCN 98% · VRSN 41% · GDDY 36% |
| Electronic Equipment & Instruments | 27 | -2.6% | 11.2% | -5.3% | PI 198% · ACFN 134% · SOTK 129% |
| IT Consulting & Other Services | 28 | -23.6% | -5.0% | -17.9% | CHRN 564111% · APLD 1863% · TSSI 675% |
| Application Software | 123 | -19.3% | -12.6% | -43.7% | VIDA 423233% · INLX 5248% · PLTR 595% |
| Systems Software | 69 | -7.9% | 12.0% | -55.0% | QNC 661% · PAYS 455% · PANW 346% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 172.94 |
| Mkt Cap | 34.1 |
| Rev LTM | 5,660 |
| Op Inc LTM | 975 |
| FCF LTM | 1,306 |
| FCF 3Y Avg | 1,255 |
| CFO LTM | 1,435 |
| CFO 3Y Avg | 1,636 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 17.6% |
| Rev Chg 3Y Avg | 0.9% |
| Rev Chg Q | 18.9% |
| QoQ Delta Rev Chg LTM | 4.4% |
| Op Inc Chg LTM | 41.0% |
| Op Inc Chg 3Y Avg | -11.4% |
| Op Mgn LTM | 17.1% |
| Op Mgn 3Y Avg | 19.1% |
| QoQ Delta Op Mgn LTM | 1.8% |
| CFO/Rev LTM | 23.6% |
| CFO/Rev 3Y Avg | 25.0% |
| FCF/Rev LTM | 20.9% |
| FCF/Rev 3Y Avg | 18.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 34.1 |
| P/S | 9.7 |
| P/Op Inc | 42.3 |
| P/EBIT | 36.2 |
| P/E | 44.4 |
| P/CFO | 47.9 |
| Total Yield | 1.5% |
| Dividend Yield | 0.1% |
| FCF Yield 3Y Avg | 2.7% |
| D/E | 0.0 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.9% |
| 3M Rtn | -23.5% |
| 6M Rtn | 4.5% |
| 12M Rtn | 45.6% |
| 3Y Rtn | 43.9% |
| 1M Excs Rtn | -5.9% |
| 3M Excs Rtn | -25.6% |
| 6M Excs Rtn | -6.9% |
| 12M Excs Rtn | 26.3% |
| 3Y Excs Rtn | -32.8% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Analog Mixed Signal and Wireless | 373 | 323 | 260 | 443 | |
| Internet of things (IoT) Systems and Connectivity | 354 | 325 | 431 | 5 | |
| Signal Integrity | 323 | 262 | 177 | 298 | 291 |
| Unallocated | 0 | 0 | |||
| Internet of things (IoT) System Products Group | 10 | 143 | |||
| Advanced Sensing and Protection Products Group | 307 | ||||
| Total | 1,050 | 909 | 869 | 757 | 741 |
| $ 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 | $127.52 | |
| Market Cap ($ Bil) | 11.8 | |
| First Trading Date | 03/17/1992 | |
| Distance from 52W High | -27.0% | |
| 50 Days | 200 Days | |
| DMA Price | $135.38 | $104.35 |
| DMA Trend | up | down |
| Distance from DMA | -5.8% | 22.2% |
| 3M | 1YR | |
| Volatility | 98.9% | 74.7% |
| Downside Capture | 458.51 | 325.31 |
| Upside Capture | 302.07 | 366.88 |
| Correlation (SPY) | 52.5% | 53.9% |
SMTC Betas & Captures as of 7/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.57 | 4.05 | 4.07 | 3.40 | 3.13 | 2.60 |
| Up Beta | 11.59 | 4.65 | 3.92 | 2.79 | 2.93 | 2.18 |
| Down Beta | -0.46 | 2.58 | 2.33 | 2.63 | 2.34 | 2.39 |
| Up Capture | 165% | 464% | 716% | 898% | 1560% | 21430% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 9 | 20 | 34 | 67 | 128 | 388 |
| Down Capture | 553% | 375% | 351% | 236% | 180% | 112% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 13 | 23 | 29 | 58 | 123 | 362 |
[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 | 150.5% | 74.6% | 1.54 | - |
| Sector ETF (XLK) | 39.3% | 26.0% | 1.23 | 64.0% |
| Equity (SPY) | 19.8% | 12.8% | 1.14 | 53.8% |
| Gold (GLD) | 38.0% | 28.8% | 1.11 | 20.0% |
| Commodities (DBC) | 38.0% | 20.3% | 1.47 | -6.6% |
| Real Estate (VNQ) | 11.9% | 13.6% | 0.58 | 4.9% |
| Bitcoin (BTCUSD) | -32.0% | 44.0% | -0.75 | 19.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SMTC | |
|---|---|---|---|---|
| SMTC | 15.8% | 65.7% | 0.50 | - |
| Sector ETF (XLK) | 19.6% | 25.9% | 0.68 | 57.5% |
| Equity (SPY) | 13.0% | 17.2% | 0.58 | 52.5% |
| Gold (GLD) | 20.7% | 18.6% | 0.90 | 11.1% |
| Commodities (DBC) | 10.1% | 19.6% | 0.40 | 8.6% |
| Real Estate (VNQ) | 2.5% | 18.9% | 0.03 | 30.5% |
| Bitcoin (BTCUSD) | 12.2% | 52.7% | 0.41 | 22.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SMTC | |
|---|---|---|---|---|
| SMTC | 17.6% | 55.3% | 0.52 | - |
| Sector ETF (XLK) | 23.9% | 25.0% | 0.87 | 60.8% |
| Equity (SPY) | 15.1% | 17.9% | 0.72 | 56.4% |
| Gold (GLD) | 12.9% | 16.3% | 0.65 | 7.9% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | 16.3% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 35.3% |
| Bitcoin (BTCUSD) | 64.0% | 66.1% | 1.04 | 15.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/25/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 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% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 14 | 13 |
| # Negative | 11 | 10 | 11 |
| Median Positive | 6.8% | 6.6% | 17.3% |
| Median Negative | -5.3% | -12.0% | -18.6% |
| Max Positive | 21.1% | 28.7% | 34.8% |
| Max Negative | -27.1% | -33.1% | -39.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 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% |
| 8/26/2020 | -5.3% | -3.4% | -18.6% |
| SUMMARY STATS | |||
| # Positive | 13 | 14 | 13 |
| # Negative | 11 | 10 | 11 |
| Median Positive | 6.8% | 6.6% | 17.3% |
| Median Negative | -5.3% | -12.0% | -18.6% |
| Max Positive | 21.1% | 28.7% | 34.8% |
| Max Negative | -27.1% | -33.1% | -39.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 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 |
| Report Date | Filing Date | Filing |
|---|---|---|
| 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 |
| 07/31/2019 | 08/28/2019 | 10-Q |
Recent Forward Guidance
Updated 8/25/2026Latest: Q2 2027 Earnings Reported 8/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2027 Net sales | 405.00 Mil | 410.00 Mil | 25.0% | Higher New | Guidance: 328.00 Mil for Q2 2027 | ||
| Q3 2027 Adjusted gross margin | 58.3% | 4.3% | Higher New | Guidance: 54.0% for Q2 2027 | |||
| Q3 2027 Adjusted operating expenses, net | 112.00 Mil | ||||||
| Q3 2027 Adjusted operating income | 127.00 Mil | 76.6% | Higher New | Guidance: 71.90 Mil for Q2 2027 | |||
| Q3 2027 Adjusted operating margin | 31.0% | -23.0% | Lower New | Guidance: 54.0% for Q2 2027 | |||
| Q3 2027 Adjusted diluted earnings per share | 1.05 | 72.1% | Higher New | Guidance: 0.61 for Q2 2027 | |||
| Q3 2027 Adjusted EBITDA | 134.30 Mil | 69.6% | Higher New | Guidance: 79.20 Mil for Q2 2027 | |||
| Q3 2027 Adjusted EBITDA margin | 32.8% | ||||||
Prior: Q1 2027 Earnings Reported 5/26/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2027 Net sales | 323.00 Mil | 328.00 Mil | 333.00 Mil | 15.9% | Higher New | Guidance: 283.00 Mil for Q1 2027 | |
| Q2 2027 Adjusted gross margin | 53.5% | 54.0% | 54.5% | 1.2% | Higher New | Guidance: 52.8% for Q1 2027 | |
| Q2 2027 Adjusted operating income | 69.60 Mil | 71.90 Mil | 74.20 Mil | 37.0% | Higher New | Guidance: 52.50 Mil for Q1 2027 | |
| Q2 2027 Adjusted diluted earnings per share | 0.59 | 0.61 | 0.63 | 35.6% | Higher New | Guidance: 0.45 for Q1 2027 | |
| Q2 2027 Adjusted EBITDA | 76.90 Mil | 79.20 Mil | 81.50 Mil | 33.1% | Higher New | Guidance: 59.50 Mil for Q1 2027 | |
Q4 2026 Earnings Reported 3/16/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2027 Net sales | 278.00 Mil | 283.00 Mil | 288.00 Mil | 3.7% | Higher New | Guidance: 273.00 Mil for Q4 2026 | |
| Q1 2027 Adjusted gross margin | 52.3% | 52.8% | 53.3% | 1.6% | Higher New | Guidance: 51.2% for Q4 2026 | |
| Q1 2027 Adjusted operating expenses, net | 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 | 49.50 Mil | 52.50 Mil | 55.50 Mil | 8.0% | Higher New | Guidance: 48.60 Mil for Q4 2026 | |
| Q1 2027 Adjusted operating margin | 17.9% | 18.6% | 19.3% | 0.8% | Higher New | Guidance: 17.8% for Q4 2026 | |
| Q1 2027 Adjusted diluted earnings per share | 0.42 | 0.45 | 0.48 | 4.7% | Higher New | Guidance: 0.43 for Q4 2026 | |
| Q1 2027 Adjusted EBITDA | 56.50 Mil | 59.50 Mil | 62.50 Mil | 6.2% | Higher New | Guidance: 56.00 Mil for Q4 2026 | |
| 2027 Adjusted normalized tax rate | 17.0% | ||||||
Q3 2026 Earnings Reported 11/24/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Net sales | 268.00 Mil | 273.00 Mil | 278.00 Mil | 2.6% | Higher New | Guidance: 266.00 Mil for Q3 2026 | |
| Q4 2026 Adjusted gross margin | 50.7% | 51.2% | 51.7% | -1.8% | Lower New | Guidance: 53.0% for Q3 2026 | |
| Q4 2026 Total semiconductor products gross margin | 60.0% | 60.5% | 61.0% | ||||
| Q4 2026 Adjusted operating expenses, net | 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 | 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 | 17.0% | 17.8% | 18.6% | -1.8% | Lower New | Guidance: 19.6% for Q3 2026 | |
| Q4 2026 Adjusted diluted earnings per share | 0.4 | 0.43 | 0.46 | -2.3% | Lower New | Guidance: 0.44 for Q3 2026 | |
| Q4 2026 Adjusted EBITDA | 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 | 19.7% | 20.5% | 21.3% | -2.0% | Lower New | Guidance: 22.5% for Q3 2026 | |
Insider Activity
Updated 8/21/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Walsh, Paul V JR | Direct | Sell | 8212026 | 135.48 | 500 | 67,740 | 3,671,508 | Form | |
| 2 | Silberstein, Asaf | EVP and COO | by Family Trust | Sell | 8192026 | 150.00 | 5,000 | 750,000 | 13,329,300 | Form |
| 3 | Hou, Hong Q | President and CEO | Direct | Sell | 8112026 | 140.00 | 2,000 | 280,000 | 8,791,860 | Form |
| 4 | Walsh, Paul V JR | Direct | Sell | 7242026 | 133.07 | 500 | 66,535 | 3,672,732 | Form | |
| 5 | Silberstein, Asaf | EVP and COO | by Family Trust | Sell | 7162026 | 145.04 | 3,000 | 435,120 | 13,613,744 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Walsh, Paul V JR | Direct | Sell | 8212026 | 135.48 | 500 | 67,740 | 3,671,508 | Form | |
| 2 | Silberstein, Asaf | EVP and COO | by Family Trust | Sell | 8192026 | 150.00 | 5,000 | 750,000 | 13,329,300 | Form |
| 3 | Hou, Hong Q | President and CEO | Direct | Sell | 8112026 | 140.00 | 2,000 | 280,000 | 8,791,860 | Form |
| 4 | Walsh, Paul V JR | Direct | Sell | 7242026 | 133.07 | 500 | 66,535 | 3,672,732 | Form | |
| 5 | Silberstein, Asaf | EVP and COO | by Family Trust | Sell | 7162026 | 145.04 | 3,000 | 435,120 | 13,613,744 | Form |
| 6 | Hou, Hong Q | President and CEO | Direct | Sell | 7142026 | 133.00 | 2,000 | 266,000 | 8,618,267 | Form |
| 7 | Silberstein, Asaf | EVP and COO | by Family Trust | Sell | 7102026 | 127.80 | 8,500 | 1,086,319 | 12,379,179 | Form |
| 8 | Green, Jason Elliot | EVP and CCO | Direct | Sell | 7092026 | 129.90 | 2,264 | 294,086 | 1,118,539 | Form |
| 9 | Lin, Mark | EVP and CFO | Direct | Sell | 7062026 | 150.41 | 970 | 145,893 | 5,248,533 | Form |
| 10 | Fischer, Gregory Michael | Direct | Sell | 7022026 | 156.24 | 1,500 | 234,360 | 887,131 | Form | |
| 11 | Hou, Hong Q | President and CEO | Direct | Sell | 7012026 | 152.57 | 9,605 | 1,465,408 | 9,705,562 | Form |
| 12 | Walsh, Paul V JR | Direct | Sell | 6262026 | 164.99 | 500 | 82,495 | 4,636,219 | Form | |
| 13 | Wilson, John Michael | Chief Quality Officer and CTO | Direct | Sell | 6242026 | 170.00 | 5,500 | 935,000 | 13,748,920 | Form |
| 14 | Lin, Mark | EVP and CFO | Direct | Sell | 6122026 | 155.16 | 683 | 105,974 | 5,316,247 | Form |
| 15 | Hou, Hong Q | President and CEO | Direct | Sell | 6092026 | 162.10 | 2,000 | 324,200 | 11,221,859 | Form |
| 16 | Silberstein, Asaf | EVP and COO | Direct | Sell | 6052026 | 164.00 | 2,000 | 328,000 | 17,083,060 | Form |
| 17 | Li, Ye Jane | Direct | Sell | 6012026 | 166.84 | 5,285 | 881,758 | 121,628 | Form | |
| 18 | Fischer, Gregory Michael | Direct | Sell | 6012026 | 164.69 | 1,000 | 164,685 | 305,820 | Form | |
| 19 | Walsh, Paul V JR | Direct | Sell | 5222026 | 138.21 | 500 | 69,105 | 3,217,391 | Form | |
| 20 | Hou, Hong Q | President and CEO | Direct | Sell | 5052026 | 103.01 | 2,000 | 206,020 | 7,337,196 | Form |
| 21 | Walsh, Paul V JR | Direct | Sell | 4242026 | 105.93 | 500 | 52,965 | 2,518,909 | Form | |
| 22 | Burvill, Martin | Direct | Sell | 4132026 | 88.98 | 2,500 | 222,449 | 392,311 | Form | |
| 23 | Lin, Mark | EVP and CFO | Direct | Sell | 4022026 | 78.42 | 974 | 76,381 | 2,614,758 | Form |
| 24 | Green, Jason Elliot | EVP and CCO | Direct | Sell | 4022026 | 81.73 | 7,500 | 612,992 | 720,143 | Form |
| 25 | Lin, Mark | EVP and CFO | Direct | Sell | 3252026 | 75.05 | 9,186 | 689,409 | 2,454,886 | Form |
| 26 | Walsh, Paul V JR | Direct | Sell | 3202026 | 80.87 | 500 | 40,435 | 1,963,443 | Form | |
| 27 | Lin, Mark | EVP and CFO | Direct | Sell | 3122026 | 87.24 | 3,908 | 340,934 | 2,315,001 | Form |
| 28 | Lin, Mark | EVP and CFO | Direct | Sell | 3122026 | 85.27 | 2,734 | 233,128 | 2,595,960 | Form |
| 29 | Lin, Mark | EVP and CFO | Direct | Sell | 3092026 | 83.75 | 6,582 | 551,242 | 1,852,969 | Form |
| 30 | Walsh, Paul V JR | Direct | Sell | 2202026 | 88.24 | 500 | 44,120 | 2,186,499 | Form | |
| 31 | Silberstein, Asaf | EVP and COO | Direct | Sell | 2112026 | 92.00 | 10,000 | 920,000 | 6,301,632 | Form |
| 32 | Silberstein, Asaf | EVP and COO | Direct | Sell | 2042026 | 88.00 | 10,000 | 880,000 | 6,907,648 | Form |
| 33 | Silberstein, Asaf | EVP and COO | Direct | Sell | 1262026 | 83.00 | 5,000 | 415,000 | 7,345,168 | Form |
| 34 | Walsh, Paul V JR | Direct | Sell | 1232026 | 78.25 | 500 | 39,125 | 1,978,082 | Form | |
| 35 | Fischer, Gregory Michael | Direct | Sell | 1132026 | 75.50 | 1,034 | 78,067 | 215,704 | Form | |
| 36 | Wilson, John Michael | Chief Quality Officer and CTO | Direct | Sell | 1122026 | 75.12 | 5,000 | 375,600 | 4,512,158 | Form |
| 37 | Lin, Mark | EVP and CFO | Direct | Sell | 1062026 | 76.20 | 1,333 | 101,575 | 1,407,947 | Form |
| 38 | Walsh, Paul V JR | Direct | Sell | 12192025 | 71.61 | 500 | 35,805 | 1,846,034 | Form | |
| 39 | Silberstein, Asaf | EVP and COO | Direct | Sell | 12092025 | 79.64 | 10,500 | 836,246 | 7,446,253 | Form |
| 40 | Hou, Hong Q | President and CEO | Direct | Sell | 12052025 | 74.08 | 10,000 | 740,768 | 1,597,022 | Form |
| 41 | Walsh, Paul V JR | Direct | Sell | 11212025 | 63.08 | 500 | 31,540 | 1,657,679 | Form | |
| 42 | Walsh, Paul V JR | Direct | Sell | 10242025 | 66.24 | 500 | 33,120 | 1,773,841 | Form | |
| 43 | Lin, Mark | EVP and CFO | Direct | Sell | 10032025 | 72.83 | 971 | 70,713 | 1,299,492 | Form |
| 44 | Burvill, Martin | Direct | Sell | 9182025 | 62.75 | 3,500 | 219,638 | 433,565 | Form | |
| 45 | Silberstein, Asaf | EVP and COO | Direct | Sell | 9022025 | 58.42 | 1,000 | 58,418 | 6,075,251 | Form |
| 46 | Fischer, Gregory Michael | Direct | Sell | 9022025 | 58.44 | 1,500 | 87,653 | 227,373 | Form | |
| 47 | Silberstein, Asaf | EVP and COO | Direct | Sell | 9022025 | 60.00 | 1,000 | 60,000 | 6,299,760 | Form |
Investor Activity (13F)
Updated Aug 26, 202613F 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 | 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 |
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