Analyst Consensus ?
ConsensusBuy32 ratings
Bullish2784.4%
Neutral515.6%
Bearish00.0%
Semtech Corporation · SMTC · FY2027 Q1 · Calendar Q2 2026
Semtech’s data-center momentum supports raised Q2 outlook, with capacity risks
Semtech’s supplied earnings analysis supports a constructive operating thesis: data-center optics, CopperEdge, LoRa+, and newly acquired photonics capabilities are contributing to growth, while raised Q2 guidance reinforces near-term momentum. The thesis remains dependent on capacity expansion, ACC adoption, HIFU integration, and sustained hyperscaler demand.
Reported After market closeNASDAQTechnology
$15.77B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.51
Consensus $0.45
EPS surprise
+12.4%
Reported versus consensus
Reported revenue
$291.0M
Consensus $283.5M
Revenue surprise
+2.6%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-4.4%
Event window
SPY move
-0.0%
Same window
Abnormal move
-4.4%
Stock minus SPY
Volume
2.3×
Versus trailing sessions
Subsequent drift
+3.2%
Up to 20 sessions
SMTCSPY benchmark
Ask FN2 about SMTC FY2027 Q1
Transcript, numbers and history already loaded
Why did SMTC fall 4.4% after beating EPS estimates in FY2027 Q1?What changed in SMTC's guidance and outlook in FY2027 Q1?Give me the bull and bear case for SMTC after FY2027 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the supplied Q1 FY2027 analysis shows record quarterly revenue and adjusted EPS, raised Q2 guidance, stronger near-term 1.6T and CopperEdge momentum, and completed HIFU integration. The emphasis shifted from planned ramps and pending initiatives toward reported execution and capacity expansion.
Guidance delta
Raised: supplied analysis says Q2 outlook increased to $328 million ± $5 million net sales, with adjusted EPS projected at $0.61 and margin expansion.
Key takeaways
- Q1 FY2027 revenue and adjusted EPS set records, according to the supplied transcript analysis.
- Data-center demand for 800G and emerging 1.6T optics, plus CopperEdge, was the central growth driver.
- LoRa+ continued to grow sequentially, while the HIFU acquisition broadened photonics and GaN capabilities.
- Management plans capacity expansion and continued R&D investment, but supply and execution remain key constraints.
- The cellular-module divestiture was described as being in its final stages.
Management priorities
- Ship 1.6T optical components and accelerate the 1.6T ramp in the second half of FY2027.
- Expand CopperEdge and develop BiDi linear equalizers.
- Increase GaN chip capacity by year-end and further in FY2028.
- Continue R&D across data-center, LoRa, sensor, and coherent-light products.
- Finalize the cellular-module divestiture and explore strategic partnerships.
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Analyst 52W Price Targets
$169.33Previous close
$40Low
$160.41Average
$300High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 24, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Benchmark | Buy | Buy | Maintain | Oct 10, 2024 |
| Stifel | Buy | Buy | Maintain | Aug 28, 2024 |
| Roth MKM | Buy | Buy | Maintain | Aug 28, 2024 |
| Needham | Buy | Buy | Maintain | Aug 28, 2024 |
| B. Riley Securities | Buy | Buy | Maintain | Aug 28, 2024 |
| Susquehanna | Positive | Positive | Maintain | Jun 6, 2024 |
| Northland Capital Markets | Outperform | Outperform | Maintain | Jun 6, 2024 |
| Craig-Hallum | Buy | Buy | Maintain | Jun 6, 2024 |
| Piper Sandler | Overweight | Overweight | Maintain | May 29, 2024 |
| Oppenheimer | Perform | Perform | Maintain | Apr 1, 2024 |
| Baird | Outperform | Outperform | Maintain | Apr 1, 2024 |
| Summit Insights Group | Buy | Hold | Upgrade | Sep 14, 2023 |
| Cowen & Co. | Market Perform | Outperform | Downgrade | Sep 1, 2022 |
| Wells Fargo | Overweight | Overweight | Maintain | Mar 17, 2022 |
| Roth Capital | Buy | Neutral | Upgrade | Jun 3, 2021 |
| RBC Capital | Outperform | Outperform | Maintain | Mar 18, 2021 |
| B. Riley FBR | Buy | Buy | Maintain | Mar 18, 2021 |
| CFRA | Buy | Buy | Maintain | May 28, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Sep 27, 2019 |
| B. Riley | Buy | Buy | Maintain | Aug 29, 2019 |
| Loop Capital | Buy | Buy | Maintain | Jun 22, 2018 |
| PiperJaffray | Overweight | Neutral | Upgrade | Apr 4, 2018 |
| BWS Financial | Buy | Buy | Maintain | Nov 20, 2017 |
| Drexel Hamilton | Buy | Buy | Maintain | Mar 1, 2016 |
| MKM Partners | Neutral | Buy | Downgrade | Sep 25, 2015 |
| Raymond James | Outperform | Strong Buy | Downgrade | Mar 27, 2015 |
| Citigroup | Buy | Buy | Maintain | Nov 20, 2014 |
| Williams Financial | Hold | Buy | Downgrade | Dec 19, 2013 |
| Williams Capital | Hold | Buy | Downgrade | Dec 19, 2013 |
| Sterne Agee | Buy | Buy | Maintain | Jun 10, 2013 |
| Lazard | Buy | Neutral | Upgrade | Oct 3, 2012 |
| Morgan Keegan | Outperform | Outperform | Maintain | Mar 8, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $169.33. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Seaport Global | Analyst unavailable | $200 | $174.33 | +18.1% | Sep 22, 2026 |
| Robert W. Baird | Analyst unavailable | $300 | $140.8 | +77.2% | Aug 27, 2026 |
| Northland Securities | Gus Richard | $182 | $140.8 | +7.5% | Aug 27, 2026 |
| Morgan Stanley | Analyst unavailable | $195 | $140.88 | +15.2% | Aug 26, 2026 |
| Roth Capital | Analyst unavailable | $220 | $142.62 | +29.9% | Aug 26, 2026 |
| UBS | Analyst unavailable | $230 | $127.52 | +35.8% | Aug 26, 2026 |
| BMO Capital | Analyst unavailable | $155 | $124.88 | -8.5% | Aug 20, 2026 |
| New Street | Analyst unavailable | $230 | $126.6 | +35.8% | Aug 20, 2026 |
| Cowen & Co. | Analyst unavailable | $215 | $168.26 | +27.0% | Jun 22, 2026 |
| Craig-Hallum | Anthony Stoss | $205 | $159.28 | +21.1% | May 27, 2026 |
| Morgan Stanley | Analyst unavailable | $175 | $164.46 | +3.3% | May 27, 2026 |
| Roth Capital | Scott Searle | $190 | $164.46 | +12.2% | May 27, 2026 |
| Oppenheimer | Analyst unavailable | $200 | $164.46 | +18.1% | May 27, 2026 |
| Robert W. Baird | Tristan Gerra | $225 | $164.46 | +32.9% | May 27, 2026 |
| Needham | Quinn Bolton | $200 | $164.46 | +18.1% | May 27, 2026 |
| Susquehanna | Christopher Rolland | $200 | $164.46 | +18.1% | May 27, 2026 |
| UBS | Timothy Arcuri | $225 | $164.46 | +32.9% | May 27, 2026 |
| Mizuho Securities | Tristan Gerra | $225 | $164.46 | +32.9% | May 27, 2026 |
| Stifel Nicolaus | Tore Svanberg | $188 | $164.46 | +11.0% | May 27, 2026 |
| Morgan Stanley | Analyst unavailable | $155 | $156.78 | -8.5% | May 26, 2026 |
| Oppenheimer | Rick Schafer | $150 | $146.53 | -11.4% | May 22, 2026 |
| Stifel Nicolaus | Tore Svanberg | $157 | $141.85 | -7.3% | May 21, 2026 |
| Susquehanna | Analyst unavailable | $170 | $134.79 | +0.4% | May 20, 2026 |
| UBS | Analyst unavailable | $165 | $132.51 | -2.6% | May 18, 2026 |
| Craig-Hallum | Anthony Stoss | $105 | $81.23 | -38.0% | Mar 17, 2026 |
| Oppenheimer | Rick Schafer | $110 | $81.25 | -35.0% | Mar 17, 2026 |
| Susquehanna | Christopher Rolland | $100 | $85.14 | -40.9% | Mar 9, 2026 |
| Stifel Nicolaus | Analyst unavailable | $90 | $79 | -46.8% | Jan 16, 2026 |
| Roth Capital | Analyst unavailable | $77 | $64.98 | -54.5% | Nov 25, 2025 |
| Morgan Stanley | Analyst unavailable | $67 | $70.01 | -60.4% | Nov 25, 2025 |
| Robert W. Baird | Analyst unavailable | $88 | $70.01 | -48.0% | Nov 25, 2025 |
| Piper Sandler | Harsh Kumar | $70 | $70.01 | -58.7% | Nov 25, 2025 |
| Needham | Quinn Bolton | $80 | $70.01 | -52.8% | Nov 25, 2025 |
| Morgan Stanley | Analyst unavailable | $64 | $67.93 | -62.2% | Nov 24, 2025 |
| Susquehanna | Christopher Rolland | $80 | $62.71 | -52.8% | Nov 18, 2025 |
| Stifel Nicolaus | Tore Svanberg | $80 | $71.45 | -52.8% | Oct 1, 2025 |
| Oppenheimer | Rick Schafer | $81 | $61.98 | -52.2% | Sep 30, 2025 |
| Craig-Hallum | Analyst unavailable | $62 | $58.66 | -63.4% | Aug 26, 2025 |
| Northland Securities | Gus Richard | $53 | $56.84 | -68.7% | Aug 26, 2025 |
| Piper Sandler | Harsh Kumar | $65 | $51 | -61.6% | Aug 26, 2025 |
| Morgan Stanley | Joseph Moore | $43 | $37.01 | -74.6% | May 28, 2025 |
| Morgan Stanley | Joseph Moore | $30 | $27.75 | -82.3% | Apr 7, 2025 |
| UBS | Analyst unavailable | $60 | $39.6 | -64.6% | Mar 14, 2025 |
| Stifel Nicolaus | Tore Svanberg | $60 | $31.44 | -64.6% | Mar 10, 2025 |
| Stifel Nicolaus | Tore Svanberg | $75 | $67.16 | -55.7% | Jan 6, 2025 |
| B.Riley Financial | Craig Ellis | $61 | $41.28 | -64.0% | Aug 28, 2024 |
| Stifel Nicolaus | Tore Svanberg | $45 | $31.18 | -73.4% | Jun 7, 2024 |
| CFRA | Angelo Zino | $46 | $37.86 | -72.8% | Jun 6, 2024 |
| Craig-Hallum | Anthony Stoss | $48 | $38.68 | -71.7% | Jun 6, 2024 |
| Stifel Nicolaus | Tore Svanberg | $50 | $45.62 | -70.5% | Jun 6, 2024 |
| Roth Capital | Scott Searle | $50 | $38.68 | -70.5% | Jun 6, 2024 |
| B.Riley Financial | Craig Ellis | $58 | $38.68 | -65.7% | Jun 6, 2024 |
| Susquehanna | Christopher Rolland | $55 | $38.68 | -67.5% | Jun 6, 2024 |
| Needham | Quinn Bolton | $50 | $38.68 | -70.5% | Jun 6, 2024 |
| Piper Sandler | Harsh Kumar | $60 | $41.84 | -64.6% | May 29, 2024 |
| Craig-Hallum | Anthony Stoss | $36 | $27.49 | -78.7% | Apr 1, 2024 |
| Susquehanna | Christopher Rolland | $45 | $27.49 | -73.4% | Apr 1, 2024 |
| CFRA | Angelo Zino | $32 | $27.49 | -81.1% | Apr 1, 2024 |
| Northland Securities | Gus Richard | $36.5 | $27.49 | -78.4% | Apr 1, 2024 |
| Robert W. Baird | Tristan Gerra | $50 | $27.49 | -70.5% | Apr 1, 2024 |
| Piper Sandler | Harsh Kumar | $40 | $27.49 | -76.4% | Apr 1, 2024 |
| Stifel Nicolaus | Tore Svanberg | $31 | $27.49 | -81.7% | Apr 1, 2024 |
| Needham | Quinn Bolton | $38 | $27.49 | -77.6% | Apr 1, 2024 |
| Stifel Nicolaus | Tore Svanberg | $26 | $27.97 | -84.6% | Mar 28, 2024 |
| Susquehanna | Christopher Rolland | $30 | $24.5 | -82.3% | Sep 14, 2023 |
| Stifel Nicolaus | Tore Svanberg | $32 | $22.6 | -81.1% | Sep 13, 2023 |
| Needham | Quinn Bolton | $35 | $25.48 | -79.3% | Sep 6, 2023 |
| Robert W. Baird | Baird Ratings | $40 | $21.4 | -76.4% | Jun 12, 2023 |
| Susquehanna | Christopher Rolland | $25 | $22.34 | -85.2% | Jun 1, 2023 |
| Piper Sandler | Harsh Kumar | $45 | $30.74 | -73.4% | Nov 30, 2022 |
| Robert W. Baird | Analyst unavailable | $48 | $31.79 | -71.7% | Sep 1, 2022 |
| Cowen & Co. | Analyst unavailable | $43 | $46.19 | -74.6% | Sep 1, 2022 |
| Piper Sandler | Analyst unavailable | $60 | $46.19 | -64.6% | Sep 1, 2022 |
| Needham | Analyst unavailable | $75 | $64.38 | -55.7% | Jun 2, 2022 |
| Susquehanna | Analyst unavailable | $72 | $64.08 | -57.5% | Jun 1, 2022 |
| Piper Sandler | Harsh Kumar | $95 | $60.91 | -43.9% | May 5, 2022 |
Track every rating change on SMTC the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationSemtech Corporation is a technology firm specializing in the creation, production, and global distribution of advanced analog and mixed-signal semiconductor components, complemented by sophisticated algorithms. The company's extensive product portfolio begins with signal integrity solutions. These encompass crucial optical data communication and video transport products utilized in various infrastructure and industrial environments. It also provides integrated circuits specifically engineered for data centers, corporate networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications. Furthermore, Semtech develops video technologies for broadcast purposes and professional audio-visual (AV) needs, including innovative video-over-IP technology. Another significant offering involves protection products, which integrate filter and termination devices with transient voltage suppressors. These components are designed to shield electronic systems from harmful voltage spikes.…
Historical context
All SMTC earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
| SAIL SailPoint, Inc. | FY2027 Q2 · Calendar Q3 2026 | +13.8% | -1.2% | SailPoint pairs 25% ARR growth with accelerating AI-driven adoption |
| CIEN Ciena Corporation | FY2026 Q3 · Calendar Q3 2026 | +22.0% | -10.4% | Ciena raises outlook as AI networking demand lifts backlog |
| DOCU DocuSign, Inc. | FY2027 Q2 · Calendar Q3 2026 | +6.4% | +3.7% | DocuSign Q2 FY27: IAM momentum supports a raised outlook |
| IOT Samsara Inc. | FY2027 Q2 · Calendar Q3 2026 | +25.0% | +3.7% | Samsara: AI adoption expands as FY27 guidance holds |
Latest beats and misses
Who reports nextBeat on EPS
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
Get the SMTC recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-27T00:23:34.712325+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-24T09:50:57.180626+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-24T09:50:57.177802+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-24. For educational purposes only; not investment advice.