Q1 2027 Semtech Corp Earnings Call Transcript
Key Points
- Semtech Corp (SMTC) reported record quarterly revenue of $291 million, marking a 6% sequential and 16% year-over-year increase.
- The company achieved a 34% year-over-year increase in adjusted diluted earnings per share, reaching $0.51.
- Strong performance in the data center and LoRa segments, with data center net sales reaching a record $71.6 million, up 14% sequentially and 39% year-over-year.
- Semtech Corp (SMTC) is targeting 35% sequential revenue growth in Q2 for the data center segment, representing 85% growth over the same period last year.
- The company is actively expanding its LoRa business, with LoRa-enabled net sales up 12% quarter-over-quarter and 14% year-over-year, driven by applications in smart utilities, smart buildings, and asset management.
- The Signal Integrity Products segment saw a decline in gross margin from 67.4% in Q4 to 62.7% in Q1.
- Operating cash flow for Q1 was $36.2 million, down 41% sequentially from $61.5 million.
- Free cash flow for Q1 was $28 million, down 53% sequentially from $59.1 million.
- The company is facing supply constraints in its gain chip demand, which currently exceeds supply.
- Semtech Corp (SMTC) is in the process of divesting several module businesses, which could pose integration and transition challenges.
Good day and thank you for standing by. Welcome to Stemtech Corporation's first quarter 2027 earnings conference call. (Operator Instructions) Please be advised that today's conference call is being recorded.
I would now like to hand the conference over to Mitch Haws, Senior Vice President of Investor Relations for Semtech. Please go ahead.
Thank you and welcome to Semtech's first quarter 2027 financial results conference call. Participants on today's conference call are Hong Hou, President and Chief Executive Officer; and Mark Lin, Executive Vice President and Chief Financial Officer.
Today, after the market close, we released our unaudited results for the first quarter ended April 26, 2026, which are posted along with an earnings call presentation to our Investor Relations website at investors.semtech.com.
Today's call will include various remarks about future expectations, plans and prospects, which comprise forward-looking statements. Please refer to today's
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