Semtech Corporation reported first-quarter fiscal 2027 earnings that surpassed analyst expectations, with non-GAAP earnings of 51 cents per share beating the consensus estimate by 13.3% and exceeding management's guidance. Revenue reached $291 million, a 16% year-over-year increase, driven by strong performance across all end markets, particularly a 36% surge in infrastructure sales to $98.8 million, which included record data center net sales of $71.6 million. The company also saw LoRa-enabled net sales rise 14% year over year to $44.5 million, reflecting broader adoption in smart utilities and asset management. For the second quarter, Semtech guided for net sales of $328 million and non-GAAP earnings of 61 cents per share, while analysts have raised estimates by 12.27% over the past month, giving the stock a Zacks Rank of 2, or Buy.
Semtech CorporationSemtech reported Q1 earnings and revenue that beat estimates, with raised guidance and analyst upgrades.