Recent News
Dec. 9, 2025 — Semtech announced a CES 2026 showcase highlighting LoRa connectivity, PerSe sensing, and unified cellular/satellite IoT modules; the company outlined demonstrations of high-throughput LR2021 capabilities. Jan. 27, 2026 — company recaps from CES emphasized multi-protocol LoRa Plus, edge-AI demos, and partner deployments across smart-city and consumer use cases. Feb. 26, 2026 — Semtech confirmed participation at MWC26 Barcelona to present cellular IoT and LoRa portfolios and noted LoRa Alliance milestones for global deployments.
Technical Analysis
Directional indicators present a nascent bullish signal while trend strength remains weak: ADX sits at 12.35, indicating no established trend, yet DI+ (20.18) produced a dip-and-reversal and DI- (15.59) shows a peak-and-reversal, both consistent with a directional shift toward bullishness; limited ADX suggests any advance may lack sustained strength without follow-through.
MACD favors upside momentum: MACD reads 2.65 with the MACD line above the signal line (2.54) and a dip-and-reversal pattern, constituting a bullish momentum cross that supports near-term positive price bias versus moving-average anchors.
MRO at 31.96 and increasing indicates the market price sits meaningfully above the modeled target; that excess implies an elevated reversion risk and tempers momentum-driven upside by increasing the probability of a pullback toward intrinsic targets.
RSI at 58.48 with a recent dip-and-reversal shows strength without overbought conditions, aligning with price trading above short- and medium-term averages: 20-day average at $88.02, 50-day average at $80.29 and 200-day average at $62.57. The 12-day EMA likewise posted a dip-and-reversal, reinforcing a short-term recovery narrative.
Price sits near the upper Bollinger band (upper 1x = $90.16) at a closing $90.49, indicating upside extension relative to recent volatility; elevated betas (42-day 2.16; 52-week 2.46) highlight heightened sensitivity to market moves and news flow, which increases event-driven swing risk.
Fundamental Analysis
Profitability remains mixed. EBIT equals $7,880,000 and EBITDA $19,401,000, yielding an EBIT margin of 2.95%, which sits well below the industry peer mean (33.335%) and median (31.707%) while above the industry peer low (-113.66%). Operating margin sits at 11.916% with year-over-year operating-margin improvement of 58.922% (operatingMarginYoY +58.922%), signaling operational leverage in recent periods.
Revenue dynamics show a strong sequential rebound but steep annual comparisons: revenue growth quarter-over-quarter equals +40.02%, while revenue growth year-over-year equals -63.47%. Receivables and inventory metrics extended working-capital days—cash-conversion-cycle at 136.76 days, slightly above the industry peer mean of 122.60 days—indicating slower cash conversion versus typical peers.
Earnings per share exceeded consensus this period: EPS actual $0.48 versus estimate $0.45, a $0.03 beat and a surprise ratio of +6.67%. QoQ earnings growth surged (+116.25%), while YoY earnings contracted (-87.48%), reflecting volatile comparables and recent operational improvement from a depressed prior-year base.
Balance-sheet and cash metrics show liquidity headroom: cash and short-term investments total $164,670,000 and current ratio at 2.43 with a quick ratio of 1.71. Total debt equals $490,486,000 and net debt $325,816,000, producing a debt-to-equity ratio of 0.867; interest coverage stands at 2.29, sufficient but modest relative to low-cost debt metrics.
Valuation multiples convey premium positioning. Trailing PE reads 133.56 and forward PE 150.43; price-to-book at 10.46 sits above the industry peer mean (4.92), median (4.06) and high (8.06). Enterprise value measures show EV ≈ $6,243,199,261 and an enterprise multiple of 321.80. Free-cash-flow yield equals 0.71% and free-cash-flow totals $42,008,000, with free-cash-flow growth negative versus the prior period. The current valuation as determined by WMDST: over-valued, reflecting a premium multiple relative to both historical profitability and peer book values.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-10-31 |
| REPORT DATE: | 2025-11-24 |
| NEXT REPORT DATE: | 2026-02-23 |
| CASH FLOW | Begin Period Cash Flow | $ 168.6 M |
| Operating Cash Flow | $ 47.5 M | |
| Capital Expenditures | $ -5.45 M | |
| Change In Working Capital | $ -5.89 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -3.89 M | |
| End Period Cash Flow | $ 164.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 267.0 M | |
| Forward Revenue | $ -1.17 B | |
| COSTS | ||
| Cost Of Revenue | $ 128.5 M | |
| Depreciation | $ 11.5 M | |
| Depreciation and Amortization | $ 11.5 M | |
| Research and Development | $ 49.4 M | |
| Total Operating Expenses | $ 235.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 138.5 M | |
| EBITDA | $ 19.4 M | |
| EBIT | $ 7.9 M | |
| Operating Income | $ 31.8 M | |
| Interest Income | $ 790.0 K | |
| Interest Expense | $ 3.4 M | |
| Net Interest Income | $ -5.69 M | |
| Income Before Tax | $ 4.4 M | |
| Tax Provision | $ 7.3 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ -2.86 M | |
| Net Income From Continuing Operations | $ -2.86 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.45 | |
| EPS Actual | $ 0.48 | |
| EPS Difference | $ 0.03 | |
| EPS Surprise | 6.667 % | |
| Forward EPS | $ 0.54 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.4 B | |
| Intangible Assets | $ 525.2 M | |
| Net Tangible Assets | $ 40.4 M | |
| Total Current Assets | $ 620.9 M | |
| Cash and Short-Term Investments | $ 164.7 M | |
| Cash | $ 164.7 M | |
| Net Receivables | $ 164.8 M | |
| Inventory | $ 185.7 M | |
| Long-Term Investments | $ 115.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 75.2 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 255.1 M | |
| Net Debt | $ 325.8 M | |
| Total Debt | $ 490.5 M | |
| Total Liabilities | $ 840.2 M | |
| EQUITY | ||
| Total Equity | $ 565.7 M | |
| Retained Earnings | $ -406.27 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 6.13 | |
| Shares Outstanding | 92.303 M | |
| Revenue Per-Share | $ 2.89 | |
| VALUATION | Market Capitalization | $ 5.9 B |
| Enterprise Value | $ 6.2 B | |
| Enterprise Multiple | 321.798 | |
| Enterprise Multiple QoQ | -131.81 % | |
| Enterprise Multiple YoY | 114.589 % | |
| Enterprise Multiple IPRWA | SMTC: 321.798 high: 296.548 mean: 56.473 median: 44.001 low: -33.375 |
|
| EV/R | 23.385 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.485 | |
| Asset To Liability | 1.673 | |
| Debt To Capital | 0.464 | |
| Debt To Assets | 0.349 | |
| Debt To Assets QoQ | -5.483 % | |
| Debt To Assets YoY | -59.581 % | |
| Debt To Assets IPRWA | SMTC: 0.349 high: 0.279 mean: 0.184 median: 0.181 low: 0.003 |
|
| Debt To Equity | 0.867 | |
| Debt To Equity QoQ | -7.616 % | |
| Debt To Equity YoY | -110.176 % | |
| Debt To Equity IPRWA | high: 1.279 SMTC: 0.867 mean: 0.336 median: 0.256 low: 0.003 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 10.461 | |
| Price To Book QoQ | 36.532 % | |
| Price To Book YoY | -143.85 % | |
| Price To Book IPRWA | SMTC: 10.461 high: 8.063 mean: 4.921 median: 4.056 low: 0.806 |
|
| Price To Earnings (P/E) | 133.559 | |
| Price To Earnings QoQ | 16.486 % | |
| Price To Earnings YoY | -21.427 % | |
| Price To Earnings IPRWA | high: 305.636 SMTC: 133.559 mean: 75.376 median: 44.32 low: -140.039 |
|
| PE/G Ratio | 7.823 | |
| Price To Sales (P/S) | 22.165 | |
| Price To Sales QoQ | 34.775 % | |
| Price To Sales YoY | 57.521 % | |
| Price To Sales IPRWA | high: 97.421 mean: 24.384 SMTC: 22.165 median: 17.485 low: 3.249 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 150.435 | |
| Forward PE/G | 8.811 | |
| Forward P/S | -6.664 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -40.807 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.19 | |
| Asset Turnover Ratio QoQ | 4.605 % | |
| Asset Turnover Ratio YoY | 10.138 % | |
| Asset Turnover Ratio IPRWA | high: 0.238 SMTC: 0.19 mean: 0.163 median: 0.162 low: 0.034 |
|
| Receivables Turnover | 1.678 | |
| Receivables Turnover Ratio QoQ | 3.965 % | |
| Receivables Turnover Ratio YoY | 4.643 % | |
| Receivables Turnover Ratio IPRWA | high: 4.908 mean: 2.35 median: 2.058 SMTC: 1.678 low: 0.942 |
|
| Inventory Turnover | 0.696 | |
| Inventory Turnover Ratio QoQ | -0.309 % | |
| Inventory Turnover Ratio YoY | -3.989 % | |
| Inventory Turnover Ratio IPRWA | high: 0.844 mean: 0.741 median: 0.724 SMTC: 0.696 low: 0.485 |
|
| Days Sales Outstanding (DSO) | 54.39 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 136.761 | |
| Cash Conversion Cycle Days QoQ | -0.818 % | |
| Cash Conversion Cycle Days YoY | 3.938 % | |
| Cash Conversion Cycle Days IPRWA | high: 196.578 SMTC: 136.761 median: 125.075 mean: 122.596 low: 48.891 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.73 | |
| CapEx To Revenue | -0.02 | |
| CapEx To Depreciation | -0.473 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.1 B | |
| Net Invested Capital | $ 1.1 B | |
| Invested Capital | $ 1.1 B | |
| Net Tangible Assets | $ 40.4 M | |
| Net Working Capital | $ 365.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.645 | |
| Current Ratio | 2.433 | |
| Current Ratio QoQ | -3.789 % | |
| Current Ratio YoY | 2.733 % | |
| Current Ratio IPRWA | high: 11.3 mean: 3.008 median: 2.46 SMTC: 2.433 low: 0.939 |
|
| Quick Ratio | 1.705 | |
| Quick Ratio QoQ | -3.931 % | |
| Quick Ratio YoY | 1.845 % | |
| Quick Ratio IPRWA | high: 10.329 mean: 2.303 median: 1.779 SMTC: 1.705 low: 0.579 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 25.281 | |
| Cost Of Debt | 0.894 % | |
| Interest Coverage Ratio | 2.294 | |
| Interest Coverage Ratio QoQ | -185.014 % | |
| Interest Coverage Ratio YoY | 175.486 % | |
| Interest Coverage Ratio IPRWA | high: 82.905 mean: 43.653 median: 21.988 SMTC: 2.294 low: -74.981 |
|
| Operating Cash Flow Ratio | -0.003 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 53.975 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.0 % | |
| Revenue Growth | 3.642 % | |
| Revenue Growth QoQ | 40.023 % | |
| Revenue Growth YoY | -63.47 % | |
| Revenue Growth IPRWA | high: 35.562 % mean: 12.729 % median: 8.704 % SMTC: 3.642 % low: -14.38 % |
|
| Earnings Growth | 17.073 % | |
| Earnings Growth QoQ | 116.251 % | |
| Earnings Growth YoY | -87.48 % | |
| Earnings Growth IPRWA | high: 147.917 % mean: 23.458 % SMTC: 17.073 % median: 9.677 % low: -33.333 % |
|
| MARGINS | ||
| Gross Margin | 51.87 % | |
| Gross Margin QoQ | -0.369 % | |
| Gross Margin YoY | 1.549 % | |
| Gross Margin IPRWA | high: 78.591 % mean: 56.165 % median: 56.043 % SMTC: 51.87 % low: 0.701 % |
|
| EBIT Margin | 2.952 % | |
| EBIT Margin QoQ | -146.924 % | |
| EBIT Margin YoY | -60.63 % | |
| EBIT Margin IPRWA | high: 60.153 % mean: 33.335 % median: 31.707 % SMTC: 2.952 % low: -113.66 % |
|
| Return On Sales (ROS) | 11.916 % | |
| Return On Sales QoQ | 12.479 % | |
| Return On Sales YoY | 58.922 % | |
| Return On Sales IPRWA | high: 60.153 % mean: 32.356 % median: 30.727 % SMTC: 11.916 % low: -113.66 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 42.0 M | |
| Free Cash Flow Yield | 0.71 % | |
| Free Cash Flow Yield QoQ | -23.409 % | |
| Free Cash Flow Yield YoY | -15.976 % | |
| Free Cash Flow Yield IPRWA | high: 4.536 % mean: 1.631 % median: 1.282 % SMTC: 0.71 % low: -3.494 % |
|
| Free Cash Growth | 6.997 % | |
| Free Cash Growth QoQ | -86.821 % | |
| Free Cash Growth YoY | -102.103 % | |
| Free Cash Growth IPRWA | high: 801.545 % mean: 27.258 % median: 23.043 % SMTC: 6.997 % low: -80.236 % |
|
| Free Cash To Net Income | -14.678 | |
| Cash Flow Margin | -0.255 % | |
| Cash Flow To Earnings | 0.238 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -0.204 % | |
| Return On Assets QoQ | -89.303 % | |
| Return On Assets YoY | -63.043 % | |
| Return On Assets IPRWA | high: 7.02 % median: 5.823 % mean: 4.728 % SMTC: -0.204 % low: -4.976 % |
|
| Return On Capital Employed (ROCE) | 0.685 % | |
| Return On Equity (ROE) | -0.005 | |
| Return On Equity QoQ | -89.663 % | |
| Return On Equity YoY | -109.317 % | |
| Return On Equity IPRWA | high: 0.13 median: 0.089 mean: 0.08 SMTC: -0.005 low: -0.036 |
|
| DuPont ROE | -0.512 % | |
| Return On Invested Capital (ROIC) | 0.589 % | |
| Return On Invested Capital QoQ | -149.33 % | |
| Return On Invested Capital YoY | -55.748 % | |
| Return On Invested Capital IPRWA | high: 8.306 % median: 7.826 % mean: 6.111 % SMTC: 0.589 % low: -7.625 % |
|