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Semtech (NAS:SMTC) Piotroski F-Score

: 1 (As of Today)
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Warning Sign:

Piotroski F-Score of 1 is low, which usually implies poor business operation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Semtech has an F-score of 1. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Semtech's Piotroski F-Score or its related term are showing as below:

SMTC' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 7   Max: 9
Current: 1

During the past 13 years, the highest Piotroski F-Score of Semtech was 9. The lowest was 1. And the median was 7.


Semtech Piotroski F-Score Historical Data

The historical data trend for Semtech's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Semtech Annual Data
Trend Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 6.00 7.00 8.00 5.00

Semtech Quarterly Data
Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 5.00 1.00 1.00 1.00

Competitive Comparison

For the Semiconductors subindustry, Semtech's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Semtech Piotroski F-Score Distribution

For the Semiconductors industry and Technology sector, Semtech's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Semtech's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Oct23) TTM:Last Year (Oct22) TTM:
Net Income was -51.013 + -29.415 + -382.002 + -38.25 = $-500.7 Mil.
Cash Flow from Operations was -18.799 + -89.987 + -12.005 + -5.847 = $-126.6 Mil.
Revenue was 167.512 + 236.539 + 238.372 + 200.899 = $843.3 Mil.
Gross Profit was 100.013 + 102.946 + 100.728 + 92.966 = $396.7 Mil.
Average Total Assets from the begining of this year (Oct22)
to the end of this year (Oct23) was
(1466.851 + 2569.628 + 2500.024 + 2118.6 + 2038.129) / 5 = $2138.6464 Mil.
Total Assets at the begining of this year (Oct22) was $1,466.9 Mil.
Long-Term Debt & Capital Lease Obligation was $1,373.6 Mil.
Total Current Assets was $572.4 Mil.
Total Current Liabilities was $239.0 Mil.
Net Income was 34.804 + 38.049 + 51.598 + 22.746 = $147.2 Mil.

Revenue was 190.55 + 202.149 + 209.254 + 177.618 = $779.6 Mil.
Gross Profit was 117.157 + 129.205 + 134.771 + 114.569 = $495.7 Mil.
Average Total Assets from the begining of last year (Oct21)
to the end of last year (Oct22) was
(1121.3 + 1130.911 + 1115.916 + 1199.832 + 1466.851) / 5 = $1206.962 Mil.
Total Assets at the begining of last year (Oct21) was $1,121.3 Mil.
Long-Term Debt & Capital Lease Obligation was $455.1 Mil.
Total Current Assets was $835.2 Mil.
Total Current Liabilities was $140.1 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Semtech's current Net Income (TTM) was -500.7. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Semtech's current Cash Flow from Operations (TTM) was -126.6. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Oct22)
=-500.68/1466.851
=-0.34132983

ROA (Last Year)=Net Income/Total Assets (Oct21)
=147.197/1121.3
=0.13127352

Semtech's return on assets of this year was -0.34132983. Semtech's return on assets of last year was 0.13127352. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Semtech's current Net Income (TTM) was -500.7. Semtech's current Cash Flow from Operations (TTM) was -126.6. ==> -126.6 > -500.7 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Oct23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct22 to Oct23
=1373.618/2138.6464
=0.64228383

Gearing (Last Year: Oct22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct21 to Oct22
=455.113/1206.962
=0.37707318

Semtech's gearing of this year was 0.64228383. Semtech's gearing of last year was 0.37707318. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Oct23)=Total Current Assets/Total Current Liabilities
=572.404/238.997
=2.39502588

Current Ratio (Last Year: Oct22)=Total Current Assets/Total Current Liabilities
=835.232/140.093
=5.9619824

Semtech's current ratio of this year was 2.39502588. Semtech's current ratio of last year was 5.9619824. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Semtech's number of shares in issue this year was 64.216. Semtech's number of shares in issue last year was 63.855. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=396.653/843.322
=0.47034585

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=495.702/779.571
=0.63586511

Semtech's gross margin of this year was 0.47034585. Semtech's gross margin of last year was 0.63586511. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Oct22)
=843.322/1466.851
=0.57492002

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Oct21)
=779.571/1121.3
=0.69523856

Semtech's asset turnover of this year was 0.57492002. Semtech's asset turnover of last year was 0.69523856. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+0+1+0+0+0+0+0
=1

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Semtech has an F-score of 1. It is a bad or low score, which usually implies poor business operation.

Semtech  (NAS:SMTC) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Semtech Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Semtech's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Semtech (NAS:SMTC) Business Description

Traded in Other Exchanges
Address
200 Flynn Road, Camarillo, CA, USA, 93012-8790
Semtech Corp is engaged in designing, developing, manufacturing and marketing analog and mixed-signal semiconductors, algorithms and wireless semiconductors, connectivity modules, gateways, routers and connected services for IoT. The company operates in four reportable segments' 1) Signal Integrity, 2) Advanced Protection and Sensing, 3) IoT System and 4) IoT Connected Services. The majority of the company's revenue is earned through Advanced Protection and Sensing Products segment. Geographically majority of the company's revenue is earned from Asia Pacific region.
Executives
Sylvia Summers director 200 FLYNN ROAD, CAMARILLO CA 93012
Mark Lin officer: EVP and CFO 200 FLYNN ROAD, CAMARILLO CA 93012
Michael W Rodensky officer: VP 200 FLYNN ROAD, CAMARILLO CA 93012
Walsh Paul V Jr director 200 FLYNN ROAD, CAMARILLO CA 93012
Hong Q Hou director, Board of Directors
Paul H Pickle director, officer: President and CEO 200 FLYNN ROAD, CAMARILLO CA 93012
Gregory Michael Fischer director 200 FLYNN ROAD, CAMARILLO CA 93012
William Ross Gray officer: VP 200 FLYNN ROAD, CAMARILLO CA 93012
Thomas John Mueller officer: EVP 200 FLYNN ROAD, CAMARILLO CA 93012
Asaf Silberstein officer: Vice President 200 FLYNN ROAD, CAMARILLO CA 93012-8079
Julie Anne Mcgee officer: SVP and CMO 200 FLYNN ROAD, CAMARILLO CA 93012
John Michael Wilson officer: Vice President SEMTECH CORPORATION, 200 FLYNN ROAD, CAMARILLO CA 93012-8790
Christopher H Chang officer: SVP 200 FLYNN ROAD, CAMARILLO CA 93012-8790
Mohan Maheswaran director, officer: President and CEO 200 FLYNN ROAD, CAMARILLO CA 93012
Emeka Chukwu officer: VP - Chief Financial Officer 200 FLYNN ROAD, CAMARILLO CA 93012-8790

Semtech (NAS:SMTC) Headlines

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