Semtech supplies semiconductors for data-center communications, LoRa wireless connectivity, protection and sensing, alongside IoT modules, routers, gateways and connected services.
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A snapshot of what SEMTECH CORP owns and owes at a point in time.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Jan 28, 20240000088941-24-000030 | Mar 28, 2024 | 10-K | Open 10-Ksec.gov |
| Jan 26, 20250000088941-25-000068 | Mar 25, 2025 | 10-K | Open 10-Ksec.gov |
| Jan 25, 20260000088941-26-000005 | Mar 23, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
As of October 24, 2026, Semtech’s semiconductor growth is strengthening, but its headline profit overstates recurring earnings. Fiscal Q2 2027 sales reached $341.9 million, with data-center and LoRa demand supporting growth and better semiconductor margins. GAAP net income of $160.1 million benefited substantially from a noncash tax-allowance release; adjusted net income was $69.5 million. Cash generation improved, although convertible debt still creates potential cash requirements. Management raised its prospective Q3 outlook in October. The portfolio is also changing: HieFo has been acquired to expand optical-chip capabilities, while the cellular-module sale to Compal remains pending. The central distinction is between demonstrated operating improvement and outcomes still dependent on orders, manufacturing execution and transaction completion. All dollar amounts are U.S. dollars.
Sources: 10-Q · 2026-07-26 · EX-99.1 · 2026-08-25 · 8-K · 2026-10-15 · OFFICIAL ACQUISITION ANNOUNCEMENT · 2026-03-03 · EX-99.1 · 2026-08-13
Semtech’s Signal Integrity segment supplies optical and copper communications chips; Analog Mixed Signal and Wireless includes LoRa, protection and sensing products. Its IoT Systems and Connectivity segment supplies hardware and managed connectivity. The first two segments form the semiconductor subtotal—not an additional business. Products generally generate revenue on shipment or delivery, while subscription services generate revenue over their contract periods. Engineering investment supports new designs, but a design win is not a purchase commitment.
Sources: 10-K · 2026-01-25 · 10-Q · 2026-07-26
Q2 2027 sales, for the quarter ended July 26 and reported August 25–26, rose 32.7% year over year to $341.9 million, following $291.0 million in Q1. Management attributed growth mainly to stronger demand and volume, especially data centers and LoRa. Semiconductor mix and overhead absorption supported margins. IoT provided an offset: its gross margin fell to 34.0% from 39.5%, and managed-connectivity sales declined despite hardware growth.
GAAP operating income reached $55.8 million, versus a $16.2 million loss a year earlier. That comparison benefits from the absence of the prior-year comparable quarter’s $42.0 million goodwill impairment in Q2 FY2026; engineering and SG&A expenses actually increased. Adjusted operating income nevertheless improved to $83.6 million from $48.6 million. GAAP net income of $160.1 million included a $112.4 million noncash U.S. deferred-tax valuation-allowance release, producing a $101.4 million net tax benefit after other tax effects. This accounting benefit is neither recurring operating earnings nor cash received.
Adjusted net income was $69.5 million, or $0.71 per diluted share, versus GAAP EPS of $1.59. Adjustments remove the large tax effect and selected expenses, including stock compensation; excluded costs can recur. The EPS measures also use different diluted-share denominators—97.7 million adjusted versus 100.8 million GAAP—so they cannot be reconciled using one common share count.
Sources: 10-Q · 2026-07-26 · 10-Q · 2026-04-26 · EX-99.1 · 2026-08-25
First-half operating cash flow was $105.1 million. Acquisition payments of $36.3 million net of acquired cash, $15.7 million of property-and-equipment purchases and $37.2 million of employee-award payroll-tax payments help explain why cash increased only $8.9 million to $204.1 million. Of that consolidated cash balance, $185.9 million was held by foreign subsidiaries at July 26, 2026; remitting historical undistributed earnings to the United States could increase tax liabilities, without making all foreign-held cash unavailable. These are distinct investing and financing uses, not additional operating expenses. Q2 company-defined free cash flow was $61.4 million: operating cash flow less net capital expenditures, not profit. Inventory’s apparent balance-sheet decline partly reflects transfer into held-for-sale assets; inventory actually consumed cash during the half.
Debt principal remained $503.0 million at July 26: $100.5 million of notes due November 2027 and $402.5 million due October 2030. Both series qualified for holder conversion during July 27–October 23, 2026; that dated eligibility does not establish subsequent conversions or continued eligibility. Converted principal requires cash settlement. At July 26, 2026, $143.4 million of the notes balance was classified as current because that portion could not be refinanced with the 2026 Revolving Credit Facility; this classification does not establish an actual conversion or payment. The July 6 refinancing replaced the previous facility with a $360 million revolver, leaving specified surviving obligations intact. July 26 undrawn capacity was $356.6 million, subject to borrowing conditions—not cash. Semtech reported covenant compliance on that date, without quantified headroom. Scheduled maturity is July 2031, subject to an earlier 2030-note-linked liquidity trigger.
Sources: 10-Q · 2026-07-26 · EX-99.1 · 2026-08-25 · 8-K · 2026-07-06 · EX-10.1 · 2026-07-06
Semtech completed HieFo’s acquisition on March 3, 2026 for approximately $34 million cash consideration, adding optical gain-chip and laser-chip technology and internal manufacturing capabilities. It announced investment and hiring plans for the California site, with integration underway. The purchase price is not an all-in expansion budget: additional investment and complete assumed-obligation economics are not established. Expected first-year adjusted EPS accretion remains a company expectation, not an achieved result.
On August 13, Semtech announced a definitive agreement to sell its cellular-module business—not the entire IoT segment—to Compal for $62 million cash before customary adjustments. October’s disclosure still described it as pending. Expected fiscal Q4 2027 closing remains conditional on regulatory approvals and other requirements. Adjustment mechanics, taxes, transaction costs, retained liabilities and transition obligations prevent treating the base price as guaranteed net proceeds or a disposal gain.
Cellular modules remained in reported operations despite held-for-sale classification. Excluding their $48.1 million Q2 sales and $10.9 million adjusted gross profit raises adjusted gross margin from 54.5% to 59.7%. That removes both revenue and profit; it is a narrower business comparison, not additional consolidated earnings or evidence of a completed sale.
Sources: 10-K · 2026-01-25 · OFFICIAL ACQUISITION ANNOUNCEMENT · 2026-03-03 · 8-K · 2026-08-13 · EX-99.1 · 2026-08-13 · 10-Q · 2026-07-26 · 8-K · 2026-10-15 · EX-99.1 · 2026-08-25
On October 15, management raised prospective Q3 sales guidance to $417.5 million ±$2.5 million from $410.0 million ±$5.0 million, and adjusted diluted EPS to $1.14 ±$0.02 from $1.05 ±$0.03. These are not achieved results or GAAP earnings forecasts. Forward GAAP reconciliation was unavailable because excluded items were insufficiently predictable. Separately, the FY2030 framework consists of targets and goals, explicitly not guidance or forecasts.
Growth depends on concentrated customers and AI infrastructure spending, cancellable orders, limited suppliers and successful product development. Trade restrictions, pricing pressure and manufacturing constraints can offset demand. HieFo integration and module-business separation add execution costs and uncertainty. The latest quarterly filing also reports unresolved CopperEdge securities litigation and the legacy Harman module claim; their outcomes and losses were not estimable. These are exposures, not findings of wrongdoing.
Sources: 8-K · 2026-10-15 · EX-99.1 · 2026-08-25 · OFFICIAL ANALYST PRESENTATION · 2026-10-15 · 10-K · 2026-01-25 · 10-Q · 2026-07-26 · OFFICIAL ACQUISITION ANNOUNCEMENT · 2026-03-03
USD 1.049975 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 1.049975 bn | 15.5% |
| 2025 | USD 909.287 m | 4.7% |
| 2024 | USD 868.758 m | — |
Consolidated product and service revenue, net of returns and price adjustments.
Sources: 10-K · 2026-01-25
USD -40.376 m
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD -40.376 m | Loss narrowed |
| 2025 | USD -161.896 m | Loss narrowed |
| 2024 | USD -1.092029 bn | — |
Net income or loss after taxes and equity-method results, before attribution to noncontrolling interests.
Sources: 10-K · 2026-01-25
USD 181.168 m
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 181.168 m | 212.4% |
| 2025 | USD 57.987 m | Turned positive |
| 2024 | USD -93.92 m | — |
Net cash provided by or used in operating activities; not net income.
Sources: 10-K · 2026-01-25
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