Semtech Corporation (SMTC) Stock

Semtech Corporation (SMTC) is a Technology stock trading at $124.97 (as of 2026-08-20), with a market capitalization of $11.64B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Semtech Corporation designs, develops, and markets analog and mixed-signal semiconductor products and related technologies. Its offerings include signal integrity components for optical communications and video transport, integrated circuits used in data centers and networks, protection products for electronic systems, and wireless and sensing products for industrial, medical, and communications applications.

Understand Semtech Corporation: how it makes money

Semtech Corporation designs and sells analog and mixed-signal semiconductor products and related advanced algorithms, including signal integrity products (optical data communications and video transport), integrated circuits for data centers and enterprise networks, and broadcast and video-over-IP technologies, and it generates revenue by selling these products and solutions to industrial and infrastructure customers.

Semtech’s profit engine is essentially converting analog and mixed-signal product demand into shipped revenue while protecting gross margin, and then translating that gross profit into operating income despite working capital needs, as shown by a high Days of Inventory figure (133) and a distributor-heavy mix (Distribution as a Percent of Net Revenue is 64%).

Revenue by segment (latest quarter)
Industrial	$0.1B
Infrastructure	$0.1B
HighEnd	$0.0B

Business quality (Mixed): Strengths are identifiable in product group revenue and connectivity ARR, and visibility is partly supported by design wins, but near-term outcomes can be pressured if design-ins do not translate into shipments quickly or if inventory builds when end markets soften.

Bull case

Connectivity contributes a recurring operating input: Annual Recurring Revenue for Laura Connectivity Business is listed at 0.1 USD_B.
Pipeline indicators are active: Design Wins Achieved is 2189, and New Design-Ins is 3200.
Product group revenue breadth: Internet of Things Systems Product Group Revenue is 0.12 USD_B, and Signal Integrity Products Product Group Revenue is 0.05 USD_B.
LoRa ecosystem continues to scale: Cumulative LoRa End Nodes Deployed is 125000000, and LoRa Gateway Deployments is 5600000.

Bear case

Working capital risk if demand timing shifts: Days of Inventory is 133, which can indicate cash is tied up if customers delay orders.
End-market cyclicality signals: Routers Pullback is 30 percent, which can pressure shipment volumes depending on customer behavior.
Distribution mix increases dependency on channel timing: Distribution as a Percent of Net Revenue is 64 percent, so results may be influenced by distributor stocking and sell-through cycles.

Valuation — source: SEC EDGAR (first-party)
Price	$124.97
Market Cap	$11.64B
EV / EBITDA	233.5
Price / Book	20.30
Price / Sales	10.68
FCF Yield	1.5%
DCF Value (model)	$17.55
DCF Upside vs Price	-86.0%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.05B
Net Margin	-3.8%
Revenue Growth (YoY)	15.9%
EPS Growth (YoY)	31.8%
FCF Growth (YoY)	7.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	8.81 (safe)
Piotroski F-Score	7/9 (strong)

Valuation vs Sector & Industry
Sector P/E (Technology)	33.9
Industry P/E (Electronic Equipment)	39.4

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($1.09B)
Institutional Holders Tracked	10
Congressional Trades (recent)	5

Company
Sector	Technology
Industry	Electronic Equipment
CEO	Hong Q. Hou
Employees	1,838
Country	US
IPO Date	1980-03-17

Related Companies (Business model: Fabless Semiconductors; 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.