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Semtech Corporation

SMTC Technology Semiconductors

Semtech Corporation’s revenue for fiscal 2026 (year ended January 2026) was $1.0 billion, up 15.5% from fiscal 2025.

Revenue
+32.7%
EPS
+654.8%
Free cash flow
+54.6%
Total debt
−5.05%

Quarter to July 2026, against a year earlier

102.93 11.39 +12.44%
Market cap
$8.5B
P/E
55.9×
Fwd P/E
33.0×
Dividend yield
—
F-score
7/9
Altman Z
5.62
Beneish M
−3.23
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2023

  • Analog Mixed Signal and Wireless
  • Signal Integrity
  • IoT Systems and Connectivity

Every year since 2010 →

Insider Decisions last twelve months

Sold, $m 18.65
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 3 6 3 4 5 4 7 6 3 5 4 —
Insider Ownership 0.47%

Capital & Financial Ratios $m

Size
Market Cap 8,540.00
Revenue ttm 1,174.22
Net income ttm 154.03
Free cash flow ttm 183.93
Net debt Q 288.68
Valuation
P/E 55.89 (above 35: high)
Forward P/E 33.00
Price / sales 7.37
Forward P/S Powerpack
Price / FCF 47.05
Price / book 11.56 (above 6: high)
Financial health
Current ratio Q 1.70 (at or above 1.5: strong)
Debt / equity Q 0.66
Interest coverage Q 28.48
Growth
Revenue growth Q +32.72% (above 0%: growing)
Operating income growth Q +444.44% (above 0%: growing)
EPS, this year +113.52% (at or above 15%: strong)
EPS, next year A +82.78% (at or above 15%: strong)
Revenue, next year A +43.24% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +79.50% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 7.6×, against a ten-year median of 4.8×; over the ten years it ranged from 2.1× in 2022 to 14.4× in 2026.
P/E against its own 10 years 42.92%
10-year low 10-year high
P/S against its own 10 years 87.06%
10-year low 10-year high
P/B against its own 10 years 91.07%
10-year low 10-year high
EV/Sales against its own 10 years 89.11%
10-year low 10-year high
EV/FCF against its own 10 years 79.43%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 129 152 195 204
Receivables 134 163 161 170
Inventory 145 164 196 171
Other 114 94 88 177
534 585 655 743
2024 2025 2026 Q'26
Payables 45 59 84 68
ST’ Debt — 46 — 143
Other — — — 71
217 283 276 437

Compound Annual Growth %

10y 5y 3y
Sales 7.91% 12.03% 11.55%
Cash Flow 5.90% 8.78% 12.66%
Earnings 0.00% 0.00% 0.00%
Book Value 0.40% (4.69%) (10.08%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY27 Estimate 0.62 Actual 0.71

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY26 0.44 0.48 Beat by 0.04
Q4 FY26 0.43 0.44 Beat by 0.01
Q1 FY27 0.45 0.51 Beat by 0.06
Q2 FY27 0.62 0.71 Beat by 0.09
Q3 FY27 1.13 — Reports 23 November 2026

EPS $

Apr Jul Oct Jan Year
’26 0.27 1.59 — — —
’26 0.22 (0.31) (0.03) (0.32) (0.46)
’25 (0.36) (2.61) (0.10) 0.48 (2.26)
’24 (0.46) (5.97) (0.60) (9.98) (17.03)
’23 0.59 0.81 0.36 (0.80) 0.96
’22 0.36 0.50 0.53 0.53 1.92
’21 0.15 0.24 0.28 0.24 0.91
Fiscal quarters ending in the months shown.

Revenue $m

Apr Jul Oct Jan Year
’26 291 342 — — —
’26 251 258 267 274 1,050
’25 206 215 237 251 909
’24 237 238 201 193 869
’23 202 209 178 168 757
’22 170 185 195 191 741
’21 133 144 154 165 595
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 36 69 — — —
’26 28 44 47 61 181
’25 0 (5) 30 33 58
’24 (90) (12) (6) 14 (94)
’23 50 77 18 (19) 127
’22 33 53 67 51 203
’21 26 37 28 27 119
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 23 61 — — —
’26 26 39 42 58 165
’25 (3) (12) 28 30 44
’24 (104) (19) (13) 11 (125)
’23 42 70 11 (24) 98
’22 27 46 61 43 177
’21 18 30 21 17 87
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 25.8% a year for ten years. It grew −4.2% a year over the last ten.

Implied
25.8%
10 years, reported
−4.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Jul ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 544 588 627 548 595 741 757 869 909 1,050 1,174 +7.6% 1,504 2,043 2,735 +37.6%
Gross margin, % 59.69 59.87 60.11 61.49 59.80 62.24 63.26 34.10 50.21 51.63 52.12 (8.1) pt
EBT 73 58 70 45 63 139 78 (1,042) (183) (21) 54 n/m
EBT margin, % 13.42 9.83 11.18 8.14 10.58 18.77 10.37 (119.89) (20.17) (2.02) 4.58 (15.4) pt
Net income 55 35 70 32 60 126 61 (1,092) (162) (40) 154 n/m
Per share, $
Per share, $ Revenue 8.32 8.90 9.51 8.26 9.13 11.46 11.86 13.55 12.70 11.88 12.59 +4.0%
Earnings 0.84 0.55 0.96 0.48 0.92 1.94 0.96 (17.03) (2.26) (0.46) 1.66 n/m
Cash flow 1.80 1.69 2.78 1.79 1.82 3.14 1.99 (1.46) 0.81 2.05 2.29 +1.5%
Capex (0.50) (0.53) (0.26) (0.34) (0.50) (0.40) (0.44) (0.48) (0.20) (0.18) (0.32) (10.8%)
Free cash flow 1.30 1.15 2.53 1.45 1.33 2.74 1.54 (1.94) 0.61 1.87 1.97 +4.2%
Book value 9.25 10.07 10.34 10.22 10.72 11.41 11.86 (4.79) 7.58 6.22 8.03 (4.3%)
Shares, m 65 66 66 66 65 65 64 64 72 88 91 +3.4%
Valuation, ×
Valuation, × P/E 39.23 68.49 46.09 99.61 80.87 36.65 34.41 0.00 0.00 0.00 55.89 40.5
P/S 3.96 4.02 5.11 5.83 8.15 6.21 2.78 1.46 5.27 7.39 7.37 5.0
P/B 3.56 3.55 4.69 4.72 6.94 6.23 2.79 0.00 8.84 14.11 11.56 5.5
EV/Sales 3.86 3.88 4.95 5.66 8.01 6.07 4.24 2.90 5.71 7.71 7.62 5.3
EV/FCF 26.54 32.34 19.28 34.31 58.87 26.21 34.60 (20.23) 118.37 48.96 48.62 37.9
Cash, $m
Cash, $m Operating cash flow 118 111 184 119 119 203 127 (94) 58 181 214 +4.9%
Capex (33) (35) (17) (23) (32) (26) (28) (31) (14) (16) (30) (7.8%)
Free cash flow 85 76 167 96 87 177 98 (125) 44 165 184 +7.7%
Balance, $m
Balance, $m Working capital 315 335 355 362 365 374 326 317 302 379 305 +2.1%
Net debt (56) (81) (101) (96) (86) (104) 1,105 1,242 400 296 289 n/m
Shareholders’ equity 605 665 683 677 699 738 756 (307) 542 550 749 (1.1%)
Returns, %
Returns, % ROA 5.68 3.30 6.48 3.01 5.61 11.36 3.32 (55.39) (11.59) (2.85) 10.09 (8.5) pt
ROIC 9.57 7.13 11.34 5.59 7.64 14.30 3.12 (63.11) 3.31 2.41 5.68 (7.2) pt
ROE 9.65 5.46 10.34 4.69 8.71 17.49 8.22 (486.66) (137.68) (7.39) 23.66 (17.0) pt
People
People Employees 1,292 1,282 1,335 1,388 1,394 1,439 2,248 1,917 1,838 1,920 — +4.5%
Revenue/emp, $m 0.42 0.46 0.47 0.39 0.43 0.51 0.34 0.45 0.49 0.55 — +2.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026 · fundamentals updated 25 Oct 2026

Business profile

Updated

Semtech Corporation designs and sells semiconductors and Internet of Things (IoT) products and services. Its chips help move data through networks, protect electronic devices from electrical damage and connect devices wirelessly. Its IoT hardware and services help businesses connect and manage equipment in the field.

The company operates through three businesses. Signal Integrity supplies chips for optical and copper connections in data centers, telecommunications networks and other infrastructure. Analog Mixed Signal and Wireless makes protection, sensing, power and wireless products, including LoRa devices for connecting machines and sensors. IoT Systems and Connectivity supplies modules, gateways, routers and services that help customers connect devices, manage subscriptions and use data.

Where the money comes from and where it goes Fiscal 2023

Fiscal 2023: revenue by segment, and margins
Analog Mixed Signal and Wireless 443 58.59%
Signal Integrity 298 39.43%
IoT Systems and Connectivity 15 1.98%
Gross margin 63.26%
Operating margin 12.27%
Pre-tax margin 10.37%

Revenue by segment since 2010

Semtech Corporation vs peers in Semiconductors (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TSEM Tower Semiconductor Ltd. $14.9B 42.5× 47.8× +32.98% (above 0%: growing) +120.40% (above 0%: growing) −180.73% (below 0%: shrinking) 33.97% 24.16% Compare
MTSI MACOM Technology Solutions Holdings, Inc. $14.5B 60.5× 57.0× +35.77% (above 0%: growing) +169.39% (above 0%: growing) +165.46% (above 0%: growing) 58.31% 22.53% Compare
LSCC Lattice Semiconductor Corporation $13.9B 310× 118× +118.25% (above 0%: growing) +298.00% (above 0%: growing) +124.58% (above 0%: growing) 67.39% 8.24% Compare
SITM SiTime Corporation $10.7B 366× 108× +257.40% (above 0%: growing) n/m −167.40% (below 0%: shrinking) 51.60% 2.79% Compare
SMTC Semtech Corporation $8.5B 55.9× 33.0× +32.72% (above 0%: growing) n/m +54.57% (above 0%: growing) 53.75% 16.31%
RMBS Rambus, Inc. $7.5B 28.7× 33.2× +22.28% (above 0%: growing) +53.93% (above 0%: growing) +16.24% (above 0%: growing) 78.30% 38.32% Compare
SLAB Silicon Laboratories, Inc. $7.4B — (loss-making) — (loss-making) +18.33% (above 0%: growing) n/m −608.05% (below 0%: shrinking) 61.65% (4.67%) Compare
SIMO Silicon Motion Technology Corporation $5.3B 17.0× 16.8× +131.50% (above 0%: growing) +64.62% (above 0%: growing) −4,223.32% (below 0%: shrinking) 53.63% 29.02% Compare
ALGM Allegro MicroSystems, Inc. $5.0B 169× 57.1× +29.21% (above 0%: growing) +200.00% (above 0%: growing) +119.18% (above 0%: growing) 49.18% 12.80% Compare
Median of peers $9.1B 60.5× 57.0× +34.38% +144.90% −75.58% 55.97% 17.67%

All 68 Semiconductors stocks →

From the latest earnings call

Updated

  • CEO Hong Hou said Semtech is working with manufacturing partners to expand capacity because secured supply may not support demand in the second half of FY2028.
  • CFO Mark Lin said the planned sale of the cellular module business would improve Semtech’s gross margin by over 500 basis points.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 98.73%
Held by the ten largest 45.48%
Holder Shares Stake Change
Vanguard 10.29m 11.05% −1.58m
BlackRock 9.75m 10.47% −4.47m
Capital Group 3.66m 3.93% −1.02m
Ameriprise (Columbia Threadneedle) 3.45m 3.70% −4.00m
State Street 3.39m 3.64% −670.22k
Jane Street 3.35m 3.60% +2.58m
Geode Capital Management 2.25m 2.42% −272.67k
Hood River Capital Management LLC 2.25m 2.42% −37.15k
UBS 2.00m 2.14% +934.83k
Morgan Stanley 1.97m 2.12% +554.17k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 21 April 2026

Ownership

Directors and executive officers, together less than 1%
BlackRock Inc. 13.70%
Ameriprise Financial, Inc. and affiliates 7.70%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Semtech Corporation (SMTC) Latest News

6 Nov

Impact 3 · · Zacks

4 Nov

Impact 3 · · Trefis

28 Oct

Impact 4 · · Zacks

24 Oct

Impact 4 · · Business Wire

22 Oct

Impact 4 · · Zacks

16 Oct

Impact 4 · · Proactive Investors
Impact 4 · · InvestorsHub
Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

15 Oct

Impact 4 · · MarketBeat
Impact 4 · · Business Wire

13 Oct

Impact 4 · · Zacks
Impact 4 · · Stocktwits
Impact 4 · · InvestorsHub
Impact 4 · · Business Wire

12 Oct

Impact 4 · · Zacks
Impact 3 · · Business Wire

9 Oct

Impact 3 · · Zacks

5 Oct

Impact 3 · · Zacks

3 Oct

Impact 4 · · Simply Wall St.

1 Oct

Impact 3 · · StockStory

30 Sep

Impact 3 · · Simply Wall St.

28 Sep

Impact 3 · · Simply Wall St.

25 Sep

Impact 4 · · StockStory

24 Sep

Impact 4 · · Zacks
Impact 3 · · Simply Wall St.
Impact 3 · · Zacks

23 Sep

Impact 4 ·
Impact 4 · · Business Wire
Impact 3 · · Simply Wall St.

SMTC metrics, ten years each

stockrow.com/SMTC · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com