SEMTECH CORP
In the published model solve dated 2026-Q2, anchored at $184.55, SEMTECH CORP (SMTC) is priced for today's economics sustained for ~31.3 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• Semtech is three businesses in one ticker, and the growth engine is the newest: the FY2026 10-K attributes Signal Integrity's expansion primarily to ⟦"an approximately $81.4 million increase in data center sales"⟧ as 800G and 1.6T optical and copper products ramp into AI clusters (accession 0000088941-26-000005). • The central risk is arithmetic, not operational: at $136.13 the market pays roughly 103 times trailing operating income, a bet requiring near-ceiling growth for close to three decad
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422 institutional managers reported holding SMTC in 13F filings for the quarter ended 2026-03-31. 74 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 7.2M shares were sold short as of the 2026-06-15 count, about 7% of shares outstanding (2.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SMTC's share count grew 43.5% over the past five years even with $154.75M spent on repurchases. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at SMTC over the trailing three years: 2023: 1 buy totaling $497k; 2024: 1 buy totaling $33k. 17 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SMTC's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-09-14 | +10.8% | -36.8% |
| 2023-12-07 | +16.4% | +4.3% |
| 2024-03-29 | -1.3% | +41.5% |
| 2024-06-06 | +1.6% | -22.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SMTC's latest 8-K filings: 2026-10-15 (items 7.01); 2026-08-25 (items 2.02, 7.01, 9.01); 2026-08-13 (items 8.01, 9.01); 2026-07-06 (items 1.01, 2.03, 9.01); 2026-06-08 (items 5.02, 5.07).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.