Semtech Announces First Quarter of Fiscal Year 2027 Results

Semtech Corporation reported record net sales of \$291.0 million for the first quarter of fiscal year 2027, representing a 6% sequential increase and a 16% year-over-year increase. The company achieved a GAAP gross margin of 52.0% and a non-GAAP adjusted gross margin of 53.0%. GAAP operating margin was 8.9%, while non-GAAP adjusted operating margin was 20.4%. GAAP diluted earnings per share were \$0.27, up 23% year-over-year, and non-GAAP adjusted diluted earnings per share were \$0.51, up 34% year-over-year. The company provided a positive outlook for the second quarter of fiscal year 2027, with expected net sales between \$323.0 million and \$333.0 million. Management highlighted strong operational fundamentals and strategic investments driving growth, particularly in data center and LoRa businesses.