Semtech Corporation (SMTC) reported strong financial results for Q1 of fiscal 2027, surpassing both earnings and revenue forecasts. EPS came in at $0.51, a 13.33% surprise over the expected $0.45. Revenue reached $291 million, exceeding expectations by 2.67%. Following the announcement, Semtech's stock rose 4.86%, closing at $161.35 in aftermarket trading.
The company posted its ninth consecutive quarter of net sales growth, driven by robust demand for data center and IoT products. CEO Hong Hou noted: 'Our 800G and 1.6T solutions are driving significant demand.'
Semtech's stock is trading just 2.3% below its 52-week high of $168.29, with a remarkable 341% return over the past year. Market cap stands at $15.61 billion. According to Bond.az analysis, the stock appears overvalued at current levels.
For Q2, Semtech expects net sales of $328 million, with data center revenue growing 35% sequentially. The company also anticipates continued growth in its LoRa IoT segment.
