Semtech Corporation
- Open
- 150.41
- Day high
- 152.19
- Day low
- 141.41
- Prev close
- 161.85
- Volume
- 1.7M
- Mkt cap
- $14.5B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 25.4
- P/S
- 13.3
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$4.2M over the last 3 months (0 open-market buys, 13 sales)
- 🏛Institutions accumulating (13F)
Semtech Corporation (SMTC) is a Technology company listed on NASDAQ. The stock is up 233% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 13 sales (SEC Form 4).
Semtech Corporation (SMTC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 13 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SMTC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 26, 2026 | $0.45 | $0.51 | +12.4% | $291M | +2.6% |
| Mar 16, 2026 | $0.43 | $0.44 | +2.1% | $274M | +0.7% |
| Nov 24, 2025 | $0.44 | $0.48 | +7.9% | $267M | +0.2% |
| Aug 25, 2025 | $0.40 | $0.41 | +2.5% | $258M | -2.7% |
| May 27, 2025 | $0.37 | $0.38 | +2.5% | $251M | +0.4% |
| Mar 13, 2025 | $0.32 | $0.40 | +25.0% | $251M | +0.7% |
| Nov 25, 2024 | $0.23 | $0.26 | +13.0% | $237M | +1.7% |
| Jun 5, 2024 | $-0.17 | $0.06 | +135.3% | $206M | +3.0% |
| Dec 6, 2023 | $-0.15 | $0.02 | +113.3% | $201M | +5.3% |
| Sep 13, 2023 | $0.02 | $0.11 | +409.7% | $238M | +0.4% |
| Jun 7, 2023 | $-0.07 | $0.02 | +128.6% | $237M | +0.7% |
| Nov 30, 2022 | $0.63 | $0.65 | +3.2% | $178M | +1.2% |
SMTC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 24, 2026 | WILSON JOHN MICHAELofficer: Chief Quality Officer and CTO | Sell | 5,500 | $170.00 |
| Jun 12, 2026 | Lin Markofficer: EVP and CFO | Sell | 683 | $155.16 |
| Jun 12, 2026 | Silberstein Asafofficer: EVP and COO | Tax | 1,241 | $157.52 |
| Jun 12, 2026 | HOU HONG Qdirector, officer: President and CEO | Option | 8,129 | — |
| Jun 12, 2026 | Lin Markofficer: EVP and CFO | Option | 2,349 | — |
| Jun 12, 2026 | Lin Markofficer: EVP and CFO | Tax | 1,196 | $157.52 |
| Jun 12, 2026 | Silberstein Asafofficer: EVP and COO | Option | 2,438 | — |
| Jun 12, 2026 | HOU HONG Qdirector, officer: President and CEO | Tax | 4,137 | $157.52 |
| Jun 12, 2026 | Green Jason Elliotofficer: EVP and CCO | Tax | 988 | $157.52 |
| Jun 12, 2026 | WILSON JOHN MICHAELofficer: Chief Quality Officer and CTO | Tax | 713 | $157.52 |
| Jun 12, 2026 | WILSON JOHN MICHAELofficer: Chief Quality Officer and CTO | Option | 1,400 | — |
| Jun 12, 2026 | Green Jason Elliotofficer: EVP and CCO | Option | 2,510 | — |
| Jun 9, 2026 | HOU HONG Qdirector, officer: President and CEO | Sell | 2,000 | $162.10 |
| Jun 5, 2026 | Gillai Saardirector | Grant | 1,180 | — |
| Jun 5, 2026 | Silberstein Asafofficer: EVP and COO | Sell | 2,000 | $164.00 |
Source: SMTC SEC Form 4 filings, latest Jun 24, 2026. For informational purposes only — not investment advice.
See the full SMTC insider & 13F page →Semtech Corporation company profile
Overview
Semtech Corporation (NASDAQ:SMTC) is a semiconductor company founded in 1960 and headquartered in Camarillo, California. The company went public in 1980 and has evolved from a traditional analog semiconductor manufacturer into a specialized provider of signal integrity, protection, wireless sensing, and power management solutions. Semtech serves original equipment manufacturers across enterprise computing, communications, consumer, and industrial markets through direct sales and distribution channels in North America, Europe, Asia-Pacific, and internationally.
Business
Semtech operates in the semiconductor industry, designing and manufacturing analog and mixed-signal semiconductor products along with advanced algorithms. The semiconductor industry forms the backbone of modern electronics, producing the integrated circuits that power everything from smartphones to data centers. The company's business is organized around several key product categories: Infrastructure Solutions (approximately 28% of revenue): This segment focuses on high-speed data transmission and optical communications. The core products include signal integrity solutions for data centers, such as transimpedance amplifiers (TIAs) and laser drivers that enable fiber optic communications at speeds up to 200 gigabits per lane. These components are essential for AI data centers and cloud computing infrastructure. The segment also includes Passive Optical Network (PON) products that enable fiber-to-the-home broadband services, and newer technologies like Active Copper Cables (ACC) and Linear Pluggable Optics (LPO) for next-generation data center connectivity. Industrial Solutions (approximately 61% of revenue): This is Semtech's largest segment, encompassing LoRa wireless technology, IoT systems hardware, and industrial protection devices. LoRa (Long Range) is a low-power wide-area network protocol that enables long-distance wireless communication for Internet of Things applications like smart metering, asset tracking, and smart city infrastructure. The IoT Systems business, largely acquired through the Sierra Wireless acquisition, provides cellular connectivity modules and services. Industrial protection products include transient voltage suppressors (TVS) that protect electronic systems from voltage spikes. High-End Consumer Solutions (approximately 15% of revenue): This segment serves consumer electronics markets with protection devices for smartphones and other portable devices, proximity sensing solutions that detect human presence for device power management, and point-of-sale terminal components. Power and Signal Conditioning: The company also produces power management integrated circuits including switching voltage regulators, linear regulators, and wireless charging solutions that control and condition power within electronic systems.
Revenue model
Semtech generates revenue primarily through product sales of semiconductor components to original equipment manufacturers and their suppliers. The company operates on a traditional semiconductor business model where it designs, manufactures (through foundries), and sells integrated circuits and related products. The company's revenue streams include: Direct product sales of semiconductor chips and modules, which constitute the majority of revenue; Connected services revenue from IoT connectivity and management services, particularly through the Sierra Wireless acquisition; and Licensing and royalties from intellectual property, though this represents a smaller portion. Customers include major technology companies, telecommunications equipment manufacturers, automotive suppliers, and industrial equipment makers. The customer base spans from large enterprises requiring high-volume shipments to smaller companies needing specialized solutions. Several factors influence Semtech's margins and profitability. Positive margin drivers include the ongoing digital transformation driving demand for data center infrastructure, the growth of IoT applications requiring LoRa connectivity, increasing adoption of fiber optic communications, and the company's focus on higher-value specialized products rather than commodity semiconductors. The shift toward AI and machine learning is particularly beneficial, as these applications require high-performance data center connectivity solutions. Margin pressures come from the cyclical nature of the semiconductor industry, intense competition from larger semiconductor companies, customer inventory adjustments that can cause demand volatility, and the capital-intensive nature of semiconductor development requiring significant R&D investment. Geopolitical tensions, particularly trade restrictions with China, can also impact both demand and supply chains. Additionally, the company's debt burden from acquisitions creates interest expense that pressures overall profitability.
Competitive moat
Semtech's competitive moat is moderate and primarily built around specialized technical expertise and market positioning rather than overwhelming structural advantages. The company's strongest moat exists in its LoRa wireless technology, where it holds key patents and has built a substantial ecosystem of partners, developers, and applications. LoRa's low-power, long-range characteristics create switching costs for customers who have invested in LoRa-based infrastructure and applications. In signal integrity solutions for data centers, Semtech benefits from deep technical relationships with major cloud service providers and the complexity of high-speed optical communications design. The company's expertise in analog circuit design and its track record in mission-critical applications create some customer stickiness, particularly as data rates increase and design complexity grows. However, the moat faces significant challenges. The semiconductor industry is highly competitive with well-funded rivals including Broadcom, Marvell, and other analog specialists who have greater resources for R&D and market expansion. In many product categories, Semtech competes primarily on technical performance and price rather than having truly differentiated technology. The company's relatively small size compared to major semiconductor companies limits its ability to invest in next-generation technologies and maintain technological leadership across all product lines. The IoT systems business acquired from Sierra Wireless operates in a commoditizing cellular module market with intense price competition and limited differentiation. While the combination with LoRa technology offers some unique positioning, the cellular connectivity market is dominated by larger players with greater scale advantages. Potential disruption could come from larger semiconductor companies expanding into Semtech's specialized niches, new wireless technologies that could displace LoRa, or customers developing their own solutions in-house as volumes grow. The rapid pace of technological change in semiconductors means that today's specialized solutions can become tomorrow's commodity products.
Risks & safety
The margin of safety appears limited given the company's high debt levels and cyclical earnings profile. • Debt and solvency concerns: Debt-to-equity ratio of 1.03, indicating significant leverage. Interest coverage appears adequate with positive EBITDA of $115M, but the company carried substantial debt from acquisitions. Cash position of $152M provides some cushion, but free cash flow of $44M suggests limited financial flexibility. • Valuation metrics suggest limited safety: EV/EBITDA of 39x appears elevated for a cyclical semiconductor company. P/E ratio of 30x based on recent profitable quarter, though full-year 2025 shows net loss. Price-to-book of 7.6x indicates shares trading well above tangible book value. • Operational considerations: Current ratio of 2.07 indicates adequate short-term liquidity. The company has shown ability to generate positive operating cash flow ($58M in FY2025), but earnings volatility and cyclical nature of semiconductor business create uncertainty. Recent portfolio rationalization efforts and debt reduction (68% reduction mentioned) show management focus on balance sheet improvement. • Industry cyclicality creates additional uncertainty around sustainable earnings power, making valuation assessment challenging.
Recent development
Over the past few years, Semtech has undergone significant strategic transformation focused on portfolio optimization and positioning for growth markets. The most significant move was the acquisition of Sierra Wireless completed in January 2023, which added cellular IoT connectivity capabilities and created an integrated IoT platform combining LoRa and cellular technologies. The company has been pursuing portfolio rationalization, seeking to divest non-core assets while concentrating investment in high-growth areas. Management has emphasized focusing R&D spending on data center solutions, LoRa technology, and selected IoT applications rather than spreading resources across all product lines. In data center technology, Semtech has been developing next-generation solutions for AI infrastructure, including Active Copper Cable (ACC) technology for high-speed connections within data centers and Linear Pluggable Optics (LPO) for fiber optic applications. The company achieved record data center revenue of $50 million in Q4 2025, demonstrating strong momentum in this strategic focus area. The LoRa business has shown remarkable recovery, with revenue growing 205% year-over-year in Q4 2025 to $37.1 million. The company launched LoRa Gen 4 chips and achieved 5G RedCap certification, expanding the technology's applicability. New applications include smart metering, industrial automation (including Mercedes-Benz factory implementations), and robotics. Operational improvements have been substantial, with adjusted gross margins improving 200 basis points and operating margins improving 570 basis points year-over-year. The company reduced net debt by 68% and launched the "Semtech Rising" employee development initiative to strengthen organizational capabilities. Management has also been focusing on emerging opportunities in person sensing for smart devices and robotics applications, representing potential new growth vectors beyond traditional markets.
SMTC company profile · for informational purposes only — not investment advice.
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