Q3 26 EPS
$0.48
BEAT +7.87%
Est. $0.45
Q3 26 Revenue
$267.0M
BEAT +0.22%
Est. $266.4M
vs S&P Since Q3 26
+57.8%
BEATING MARKET
SMTC +64.6% vs S&P +6.8%
Market Reaction
Did SMTC Beat Earnings? Q3 2026 Results
Semtech posted a clean beat on both top and bottom lines in fiscal Q3 2026, delivering record quarterly net sales of $267.00 million, up 12.7% year over year and just ahead of the $266.42 million consensus, while non-GAAP adjusted diluted EPS of $0.4… Read more Semtech posted a clean beat on both top and bottom lines in fiscal Q3 2026, delivering record quarterly net sales of $267.00 million, up 12.7% year over year and just ahead of the $266.42 million consensus, while non-GAAP adjusted diluted EPS of $0.48 cleared the $0.45 estimate by 7.87%, nearly doubling the $0.26 reported in the year-ago quarter. The quarter's strength was broad-based, with the semiconductor products portfolio climbing to $178.70 million from $154.30 million a year ago as demand for signal integrity and analog mixed-signal solutions accelerated, particularly in data center networking where the company reported record sales. Profitability improved in step with revenue, as adjusted EBITDA reached $62.70 million at a 23.5% margin and free cash flow strengthened to $44.60 million from $29.10 million a year prior. Despite the solid results, shares slipped in after-hours trading, a reaction some attributed to mixed sentiment around valuation. Looking ahead, Semtech guided Q4 net sales to approximately $273.00 million and adjusted diluted EPS of $0.43, reflecting planned increases in R&D investment as CEO Hong Hou cited intensifying customer demand for power-efficient AI and IoT connectivity solutions.
Key Takeaways
- • 13% year-over-year revenue growth to record quarterly net sales
- • Signal Integrity segment revenue grew from $71.5M to $81.6M year-over-year
- • Analog Mixed Signal and Wireless segment revenue grew from $82.8M to $97.0M year-over-year
- • IoT Systems and Connectivity revenue grew from $82.5M to $88.3M year-over-year
- • Non-GAAP adjusted operating margin expansion to 20.6% from 18.3% a year ago
- • Substantial reduction in adjusted interest expense from $18.4M to $2.5M year-over-year through capital structure optimization
- • Disciplined R&D investments and expanding customer partnerships
SMTC YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
SMTC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our strong results this quarter reflect returns on our disciplined R&D investments and the deep and expanding partnerships we have established with our customers.”
— Hong Hou, Q3 2026 Earnings Press Release
SMTC Earnings Trends
SMTC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SMTC EPS Trend
Earnings per share: estimate vs actual
SMTC Revenue Trend
Quarterly revenue: estimate vs actual
SMTC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 FY | — | $0.44 | — | $274.4M | — |
| FY Full Year | — | $1.71 | — | $1.05B | — |
| Q3 26 BEAT | $0.45 | $0.48 | +7.87% | $267.0M | +0.22% |
| Q2 26 BEAT | $0.40 | $0.41 | +2.17% | $257.6M | +0.60% |
| Q1 26 | — | $0.38 | — | $251.1M | — |
| Q4 25 FY | — | $0.40 | — | $251.0M | — |
| FY Full Year | — | $0.88 | — | $909.3M | — |