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Semtech Corp. (DE:SM2)
FRANKFURT:SM2
Earnings Data
Report Date
Jun 03, 2026After Close (Confirmed)
Period Ending
2027 (Q1)Consensus EPS Forecast
0.39Last Year’s EPS
0.33Same Quarter Last Year
Strong Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong financial and operational momentum: record annual revenue ($1.05B), robust Q4 growth, large EPS improvement (FY +94%), improved margins and cash generation, and strategic progress through the HIFU acquisition and multiple data-center design wins (ACC, LPO, NPO). Near-term headwinds include HIFU capacity constraints, incremental ramp costs pressuring Semiconductor gross margin in Q1, higher OpEx and an increased tax rate, and some end-market variability (consumer sequential decline and IoT Systems lumpiness). On balance the positives — particularly data center revenue acceleration, cash flow strength, margin expansion, and accretive acquisition strategy — materially outweigh the near-term risks.Company Guidance
Record Annual Revenue
Fiscal 2026 net sales reached a record $1,050,000,000, representing annual growth of 15% year over year.
Quarterly Revenue and Sequential Momentum
Q4 net sales were $274,400,000, up 3% sequentially and up 9% year over year; this marked the eighth consecutive quarter of net sales growth.
Strong Earnings and EPS Improvement
Adjusted diluted EPS for the full year was $1.71, an increase of 94% year over year; Q4 adjusted diluted EPS was $0.44, up 10% year over year and above the midpoint of guidance.
Robust Gross Margin Performance
Adjusted gross margin was 51.6% (above the midpoint of outlook). Total Semiconductor Products gross margin was 61.7%, up 40 basis points sequentially and up 350 basis points year over year.
Record Data Center Revenue and Rapid Growth
Fiscal 2026 data center revenues were a record $223,000,000, up 58% year over year; Q4 data center revenues were $63,000,000, up 12% sequentially and 26% year over year. Management expects data center revenue to grow >50% year over year in the coming fiscal year.
Strong Cash Generation and Improved Capital Structure
Q4 operating cash flow was $61,500,000 (up 30% sequentially and 84% year over year). Q4 free cash flow was $59,100,000 (up 32% sequentially and 91% year over year). Cash and equivalents were $195,200,000; adjusted net leverage improved to 1.3 from 1.5 sequentially and 2.3 year over year.
Strategic Acquisition of HIFU
Acquired HIFU (indium phosphide laser and gain-chip manufacturer) to vertically integrate lasers with Semtech TIAs and drivers; expected to be accretive to non-GAAP diluted EPS within the first year and increase potential content per 3.2T module to roughly $80.
Product and Ecosystem Wins — ACC, LPO, NPO
Design wins and ecosystem participation: CopperEdge ACC shipments initiating this quarter with ramp expected mid-year; LPO design wins and membership in XPO MSA; Semtech co-authored ACC MSA and is developing NPO — all supporting multi-year data center content growth.
LoRa Momentum and Long-Term Outlook
Full-year LoRa revenues were $156,000,000, up 34% year over year; Q4 LoRa net sales were $39,600,000 (up 7% year over year). Management expects long-term LoRa growth of ~20% and quarterly LoRa sales in the $35M–$45M range.
Improved Interest and Financing Expense
Semtech was a net interest income position in Q4 ($100,000) versus $11.2M net interest expense a year ago. Fiscal year adjusted net interest expense fell to $11.5M from $70.6M in fiscal 2025.
Positive Near-Term Guidance
Q1 FY2027 guidance: net sales $283,000,000 +/- $5,000,000 (up ~13% year over year at midpoint); expected adjusted diluted EPS $0.45 +/- $0.03; expected adjusted gross margin ~52.8%.
Product Introductions and Market Demonstrations
Ongoing product demos (OFC) across copper and optical (1.6T ACCs, 448G per-channel CopperEdge and TIA/modulator drivers, HIFU lasers), and new industrial 5G RedCap routers launched (AirLink RX-400, EX-400).
DE:SM2 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:SM2 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 16, 2026 | €75.30 | €73.42 | -2.50% |
Nov 24, 2025 | €57.50 | €54.06 | -5.98% |
Aug 25, 2025 | €43.26 | €50.02 | +15.63% |
May 27, 2025 | €33.26 | €33.22 | -0.12% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Semtech Corp. (DE:SM2) report earnings?
Semtech Corp. (DE:SM2) is schdueled to report earning on Jun 03, 2026, After Close (Confirmed).
What is Semtech Corp. (DE:SM2) earnings time?
Semtech Corp. (DE:SM2) earnings time is at Jun 03, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Semtech Corp. stock?
The P/E ratio of Semtech is N/A.
What is DE:SM2 EPS forecast?
DE:SM2 EPS forecast for the fiscal quarter 2027 (Q1) is 0.39.
