# Semtech Corp (SMTC) — Stock CV

Semtech Corp is a $17.4B technology company. Revenue grew 17.8% over the last year, it keeps 13¢ of every dollar of sales as profit, and its net debt equals ~1.5 years of free cash flow. It trades at 52.1× earnings.

> Semtech Corp is a provider of high-performance semiconductors powering data center networking, Internet of Things ("IoT") connectivity, and cellular infrastructure solutions.

## Identity

- **Ticker**: SMTC
- **Sector**: Technology
- **Industry**: Semiconductors & Related Devices
- **Headquarters**: CAMARILLO, CA
- **Employees**: 1 920
- **Website**: https://www.semtech.com
- **Market cap**: $17.4B
- **Last price**: $186.09
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $1.17B
- **Net income**: $154M
- **Free cash flow**: $193M
- **Net debt**: $296M
- **P/E**: 52.1
- **Revenue growth (YoY)**: 17.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 15 |
| Growth | 37 |
| Profitability | 57 |
| Health | 30 |
| Quality | 78 |
| Moat | 43 |

## Qualifications (beginner checklist) — 7 of 10 passed

- [x] Revenue growing — +17.8% YoY
- [x] Profitable — $154M TTM
- [x] Profit growing — +75.1% YoY
- [x] Generates cash — $193M TTM
- [x] Debt under control — ~1.5y of cash flow to repay
- [x] Established company — $17.4B market cap
- [ ] Not printing shares — +33.8% shares over ~5y
- [x] Proven track record — 8/11 profitable years
- [ ] Financially stable — health score 18/100
- [ ] Valuation not extreme — P/E 52.1

## Experience (career milestones)

- **FY2026** — Revenue crossed $1B: $1.05B for the year
- **FY2022** — Best year on record: $126M net income
- **FY2017** — Became debt-free: cash now exceeds total debt
- **FY2016** — First recorded profitable year: $11.5M net income

## Strengths

- High gross margin (52.6%)
- Revenue growing 17.8% year over year
- Strong cash conversion — FCF is 16.4% of revenue
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- Thin interest coverage (-0.3×)
- Loss-making in 3 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2022 | $741M | $126M | $177M |
| FY2023 | $757M | $61.4M | $98.4M |
| FY2024 | $869M | -$1.09B | -$123M |
| FY2025 | $909M | -$162M | $50.1M |
| FY2026 | $1.05B | -$40.4M | $171M |

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Source: https://stockcv.com/SMTC — derived from company filings; may be delayed or incomplete. Information, not investment advice.