Welcome to our dedicated page for Semtech news (Ticker: SMTC), a resource for investors and traders seeking the latest updates and insights on Semtech stock.
Semtech Corporation (NASDAQ: SMTC) is a leading global supplier of high-quality analog and mixed-signal semiconductor products. The company focuses on delivering proprietary solutions and breakthrough technologies across various domains including power management, protection, advanced communications, human interface, test & measurement, and wireless and sensing products. Semtech designs, develops, manufactures, and markets these products to be utilized in diverse applications such as communications, computer and computer peripherals, automated test equipment, industrial, and other commercial sectors.
The company operates through four main segments: Signal Integrity, Advanced Protection and Sensing, IoT System, and IoT Connected Services. A significant portion of its revenue is generated from the Advanced Protection and Sensing Products segment. Geographically, the majority of Semtech’s revenue originates from the Asia Pacific region, reflecting its strong market presence and extensive customer base in that area.
In recent news, Semtech Corporation announced a strategic partnership with Måna Care AB, a Swedish start-up focused on digital communication and care platforms. Semtech’s IoT Systems and Connectivity Product Group, formerly known as Sierra Wireless, has been pivotal in supporting Måna Care’s mission to promote digital inclusion for elderly and cognitively challenged communities. The collaboration leverages Semtech’s AirVantage® Smart Connectivity service to ensure reliable, global connectivity for Måna Care’s innovative communication devices, aiding caregivers, families, and friends to stay connected with their loved ones.
Semtech acquired Sierra Wireless in 2023, enhancing its capabilities in high-performance semiconductors, IoT systems, and cloud connectivity services. This acquisition aligns with Semtech’s commitment to enabling a smarter, more connected, and sustainable planet. The company’s comprehensive product portfolio includes integrated circuits (ICs) and connectivity modules designed to meet the evolving needs of infrastructure, industrial, and consumer markets.
Semtech continues to innovate and expand its product offerings, focusing on advancing technologies that empower solution architects and application developers. By maintaining strong technical support and sales channels, and establishing strategic partnerships, Semtech is well-positioned to capitalize on emerging market opportunities and drive growth in the semiconductor industry. For more details on Semtech Corporation’s latest updates and achievements, visit their official website or follow them on professional networks like LinkedIn and X.
Semtech (Nasdaq: SMTC) has closed its previously announced private exchange transactions involving its 4.00% Convertible Senior Notes due 2028. Approximately $188 million in aggregate principal amount of the 2028 Notes and accrued interest were exchanged for 10,378,431 shares of the company's common stock. The newly issued shares are not registered under the Securities Act of 1933 and have certain restrictions on their sale and transfer. Semtech, a high-performance semiconductor, IoT systems, and cloud connectivity service provider, emphasizes that this announcement does not constitute an offer to sell or a solicitation to buy securities.
Semtech (Nasdaq: SMTC) has announced private exchange agreements to repurchase $183 million of its 4.00% Convertible Senior Notes due 2028. The repurchase will be executed by issuing shares of the company's common stock over an averaging period beginning July 12, 2024. The transactions are anticipated to close around July 24, 2024, pending customary closing conditions.
These shares will not be registered under the Securities Act of 1933 or other relevant securities laws, limiting their offer and sale in the United States absent proper registration or exemptions. This release does not constitute a sales offer or solicitation to buy any securities in any jurisdiction where such activities would be unlawful.
Semtech (Nasdaq: SMTC) has appointed Dr. Hong Q. Hou as its new President and CEO, effective June 6, 2024. Dr. Hou, a current board member, replaces Paul H. Pickle, whose departure was due to differences with the board, not related to Semtech's operational or financial performance. The company has stabilized its business by reducing operating expenses and strengthening its financial foundation. Dr. Hou aims to leverage Semtech's innovative technologies in the AI and IoT sectors. Additionally, Semtech has reaffirmed its second-quarter fiscal year 2025 guidance provided on June 5, 2024.
Semtech (SMTC) reported its first quarter fiscal year 2025 results, ending April 28, 2024. The company achieved net sales of $206.1 million, surpassing the high-end of its guidance range. GAAP gross margin was 48.3%, and non-GAAP gross margin was 49.8%, both above the midpoint of guidance.
GAAP operating expenses were $96.4 million, a 16% decrease YoY, while non-GAAP operating expenses were $77.4 million, down 17% YoY. The company recorded a GAAP net loss of $23.2 million but reported a non-GAAP net income of $4.1 million.
GAAP diluted loss per share was $0.36, while non-GAAP diluted EPS was $0.06, exceeding the high-end of guidance. Adjusted EBITDA was $33.1 million, also surpassing the high-end of guidance. For Q2 FY 2025, Semtech forecasts net sales of $212 million, non-GAAP gross margin of 50%, operating expenses of $77.5 million, and diluted EPS of $0.09.
Semtech (Nasdaq: SMTC) will release its financial results for the first quarter of fiscal year 2025 on June 5, 2024, after the market closes.
The results will be available via Business Wire and the company's website. Semtech will also host a conference call at 2 p.m. PT (5 p.m. ET) on the same day to discuss the quarterly performance, current business conditions, and future outlook.
Participants can join the call via toll-free or international numbers. The event will be webcast live, with a replay and transcript available post-event.
Semtech (Nasdaq: SMTC) collaborates with Console Connect to expand connectivity coverage in the Asia-Pacific (APAC) region for its AirVantage® Smart Connectivity service. The partnership aims to leverage Console Connect's IMSI service and partner roaming network to enhance global connectivity. This collaboration offers customers a network of leading cellular providers, ensuring seamless global connectivity and overcoming regulatory restrictions. Semtech customers can now benefit from expanded coverage, high-speed network access, and reliable connectivity with multi-network capabilities.
FAQ
What is the current stock price of Semtech (SMTC)?
What is the market cap of Semtech (SMTC)?
What does Semtech Corporation do?
What are the main segments of Semtech Corporation?
Where does Semtech Corporation earn most of its revenue?
What recent strategic partnership has Semtech Corporation announced?
When did Semtech acquire Sierra Wireless?
What is Semtech’s AirVantage® Smart Connectivity service?
What type of products does Semtech develop?
How does Semtech support Måna Care’s mission?
What markets does Semtech cater to?
Where can I learn more about Semtech Corporation?
