Loading...
Docoh

Semtech (SMTC)

Semtech Corporation is a leading supplier of high performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction.

Company profile

Ticker
SMTC
Exchange
Website
CEO
Mohan Maheswaran
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Semtech EV, Inc. • Semtech San Diego Corporation • Sierra Monolithics, Inc. • Semtech Colorado, Inc. • Semtech New York Corporation • Semtech Corpus Christi Corporation • Triune IP, LLC • Triune Systems, L.L.C. • Semtech Canada Corporation • Semtech Quebec Inc. ...
IRS number
952119684

SMTC stock data

Calendar

1 Jun 22
12 Aug 22
30 Jan 23
Quarter (USD) May 22 Jan 22 Oct 21 Aug 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Jan 21 Jan 20 Jan 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 275.18M 275.18M 275.18M 275.18M 275.18M 275.18M
Cash burn (monthly) 1.47M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 5.03M n/a n/a n/a n/a n/a
Cash remaining 270.16M n/a n/a n/a n/a n/a
Runway (months of cash) 183.5 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 22 Edwards Bruce C RSU SMTC Grant Acquire A No No 0 1,731 0 1,731
1 Jul 22 Edwards Bruce C RSU SMTC Grant Acquire A No No 0 1,731 0 1,731
1 Jul 22 Gillai Saar RSU SMTC Grant Acquire A No No 0 1,731 0 1,731
1 Jul 22 Gillai Saar RSU SMTC Grant Acquire A No No 0 1,731 0 1,731
1 Jul 22 Cardenuto Rodolpho C RSU SMTC Grant Acquire A No No 0 1,731 0 1,731
1 Jul 22 Cardenuto Rodolpho C RSU SMTC Grant Acquire A No No 0 1,731 0 1,731
1 Jul 22 Martin Burvill RSU SMTC Grant Acquire A No No 0 1,731 0 1,731
1 Jul 22 Martin Burvill RSU SMTC Grant Acquire A No No 0 1,731 0 1,731
1 Jul 22 Lindstrom James T RSU SMTC Grant Acquire A No No 0 1,731 0 1,731
1 Jul 22 Lindstrom James T RSU SMTC Grant Acquire A No No 0 1,731 0 1,731
97.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 313 304 +3.0%
Opened positions 38 55 -30.9%
Closed positions 29 25 +16.0%
Increased positions 131 109 +20.2%
Reduced positions 106 103 +2.9%
13F shares Current Prev Q Change
Total value 4.27B 5.49B -22.2%
Total shares 61.55M 61.75M -0.3%
Total puts 23.9K 59.8K -60.0%
Total calls 27.9K 163.7K -83.0%
Total put/call ratio 0.9 0.4 +134.5%
Largest owners Shares Value Change
BLK Blackrock 7.16M $496.52M +3.7%
Vanguard 6.48M $449.37M +0.4%
BK Bank Of New York Mellon 2.86M $198.12M -6.7%
STT State Street 2.59M $179.39M +4.4%
FMR 2.25M $156.36M -45.2%
IVZ Invesco 2.13M $147.36M -14.7%
Millennium Management 1.58M $109.29M +105.8%
Alliancebernstein 1.38M $95.83M -27.1%
TROW T. Rowe Price 1.31M $90.59M -9.6%
Fisher Asset Management 1.28M $88.56M -0.8%
Largest transactions Shares Bought/sold Change
FMR 2.25M -1.86M -45.2%
Millennium Management 1.58M +810.2K +105.8%
Norges Bank 0 -574.22K EXIT
Alliancebernstein 1.38M -513.36K -27.1%
Assenagon Asset Management 558.68K +510.31K +1055.0%
IVZ Invesco 2.13M -367.07K -14.7%
GS Goldman Sachs 834.38K +364.5K +77.6%
Summit Partners Public Asset Management 302.3K -286.14K -48.6%
BLK Blackrock 7.16M +257.22K +3.7%
Renaissance Technologies 333.92K +234.8K +236.9%

Financial report summary

?
Risks
  • The COVID-19 pandemic has adversely affected and may in the future adversely affect, our operations, and those of our customers, distributors, suppliers, third-party foundries and subcontractors thereby adversely affecting our business, financial condition and results of operations.
  • Our future results may fluctuate, fail to match past performance or fail to meet expectations as a result of conditions beyond our control, such as general economic conditions in the markets we compete, cyclical and other conditions unique to our industry and the financial health and viability of our suppliers and customers.
  • The average selling prices of products in our markets have historically decreased rapidly and will likely do so in the future, which could harm our revenue and gross margins.
  • We rely on a limited number of suppliers and subcontractors, many of which are foreign-based entities, for many essential components and materials and certain critical manufacturing services and any interruption or loss of supplies or services from these entities could significantly interrupt our business operations and the production of our products.
  • Our ability to increase product sales and revenue may be constrained by the manufacturing capacity of our suppliers.
  • Our products may be found to be defective, product liability claims may be asserted against us and we may not have sufficient liability insurance.
  • Obsolete inventories as a result of changes in demand for our products and changes in the life cycles of our products could adversely affect our business, operating results and financial condition.
  • We may be unsuccessful in developing and selling new products, which is central to our objective of maintaining and expanding our business.
  • Our customers require our products to undergo a lengthy and expensive qualification process without any assurance of product sales.
  • Unfavorable or uncertain conditions in the 5G infrastructure market may cause fluctuations in our rate of revenue growth or financial results.
  • We may be unable to adequately protect our intellectual property rights.
  • We may suffer losses and business interruption if our products infringe the intellectual property rights of others.
  • We must commit resources to product production prior to receipt of purchase commitments and could lose some or all of the associated investment.
  • While we intend to continue to invest in research and development, we may be unable to make the substantial investments that are required to remain competitive in our business.
  • Certain software we use is from open source code sources, which, under certain circumstances, may lead to unintended consequences and, therefore, could materially adversely affect our business, financial condition, operating results and cash flow.
  • We may need to transition to smaller geometry process technologies and achieve higher levels of design integration to remain competitive and may experience delays in this transition or fail to efficiently implement this transition.
  • We are subject to export restrictions and laws affecting trade and investments, which may limit our ability to sell to certain customers.
  • We sell and trade with foreign customers, which subjects our business to increased risks.
  • A substantial portion of our sales is derived from China and adverse changes to general economic conditions in China could have a material and adverse impact on our sales and financial results.
  • We and our manufacturing partners are or will be subject to extensive Chinese government regulation, and the benefit of various incentives from Chinese governments that we and our manufacturing partners receive may be reduced or eliminated, which could increase our costs or limit our ability to sell products and conduct activities in China.
  • Our foreign currency exposures may change over time as the level of activity in foreign markets grows and could have an adverse impact upon financial results.
  • We may be subject to increased tax liabilities and an increased effective tax rate if we need to remit funds held by our foreign subsidiaries.
  • We receive a significant portion of our revenues from a small number of customers and the loss of any one of these customers or failure to collect a receivable from them could adversely affect our business.
  • The volatility of customer demand limits our ability to predict future levels of sales and profitability.
  • Most of our authorized distributors, which collectively represent more than half of our net sales, can terminate their contract with us with little or no notice. The termination of a distributor could negatively impact our business, including net sales and accounts receivable.
  • Our inability to effectively control the sales of our products on the gray market could have a material adverse effect on us.
  • Changes in government trade policies could have an adverse impact on our business or the business of our customers, which may materially adversely affect our business operations, sales or gross margins.
  • Our failure to comply with any applicable environmental regulations could result in a range of consequences, including fines, suspension of production, excess inventory, sales limitations, and criminal and civil liabilities.
  • Our operating results could be adversely affected as a result of changes in our effective tax rates, the adoption of new U.S. or foreign tax legislation or exposure to additional tax liabilities, or by material differences between our forecasted annual effective tax rates and actual tax rates.
  • We may be subject to taxation and review of our compliance with income, value-added and other sales-type tax regulations in other jurisdictions which could negatively affect our operations.
  • We have limited experience with government contracting, which entails differentiated business risks.
  • Corporate responsibility, specifically related to environmental, social and governance (“ESG”) matters, may impose additional costs and expose us to new risks.
  • The loss of any of our key personnel or the failure to attract or retain specialized technical and management personnel could impair our ability to grow our business.
  • We face risks associated with companies we have acquired in the past and may acquire in the future.
  • We may be required to recognize additional impairment charges in the future which could have an adverse effect on our financial condition and operating results.
  • Restrictive covenants in the Credit Agreement governing the Credit Facility may restrict our ability to pursue our business strategies.
  • We rely on certain critical information systems for the operation of our business and a disruption in our information systems, including those related to cybersecurity, could adversely affect our business operations.
  • The costs associated with our indemnification of certain customers, distributors, and other parties could be higher in future periods.
Management Discussion
  • ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Semtech Corporation (together with its consolidated subsidiaries, the "Company", "we", "our", or "us") designs, develops, manufactures and markets high-performance analog and mixed signal semiconductors and advanced algorithms. We account for results in two reportable segments—the High-Performance Analog Group and the System Protection Group. The High-Performance Analog Group is comprised of our Signal Integrity and Wireless and Sensing product lines, which represent two operating segments. The System Protection Group is comprised of our Protection product line, which represents a separate operating segment.
  • Signal Integrity. We design, develop, manufacture and market a portfolio of optical data communications and video transport products used in a wide variety of infrastructure and industrial applications. Our comprehensive portfolio of integrated circuits ("ICs") for data centers, enterprise networks, passive optical networks ("PON"), and wireless base station optical transceivers and high-speed interfaces ranges from 100Mbps to 400Gbps and supports key industry standards such as Fibre Channel, Infiniband, Ethernet, PON and synchronous optical networks. Our video products offer advanced solutions for next generation high-definition broadcast applications, as well as highly differentiated video-over-IP technology for professional audio video applications.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: AG, classified, conflict, criteria, death, depreciation, Disposal, divestiture, dynamic, fifteen, flat, formation, GILTI, inflation, inflationary, led, past, pico, political, ratably, reclassified, repayment, retained, retrospectively, Russia, shift, superseded, Trackio, Ukraine, worldwide
Removed: accompany, aerospace, allocation, arrangement, assure, caption, center, closing, commencing, Cycleo, Department, eligible, enacted, expanding, gained, Gennum, Huawei, hybrid, intensified, intraperiod, limitation, milestone, military, misleading, noted, obtained, plant, recoverability, SAS, shorter, simplify, Simplifying, straight, traction, versa, vice

Patents

Utility
Integrated High Voltage Capacitor
28 Jul 22
A semiconductor device comprises a semiconductor die and an integrated capacitor formed over the semiconductor die.
Utility
Method and device for electrical overstress and electrostatic discharge protection
5 Jul 22
A semiconductor device is protected from electrical overstress (EOS) and electro-static discharge (ESD) events by a series protection circuit electrically coupled in series along the transmission line between a signal source and a load.
Utility
Low-power, frequency-hopping, wide-area network with random medium access
21 Jun 22
A radio-transmitting device comprises a radio interface operating in a predetermined frequency band, operatively arranged for modulating a carrier having a frequency in the frequency band, while switching the frequency of the carrier among several hopping frequencies in the frequency band, according to a hopping sequence, to obtain a spread-spectrum modulated signal, wherein the spread-spectrum modulated signal includes, in a preamble portion, a plurality of sync words, each combined with at least one instance of a sequential index, the sync words being transmitted at different frequencies, and a data portion following the preamble portion and including a plurality of frequency hops.
Utility
Multi-use wireless power and data system
21 Jun 22
A wireless device is disclosed that includes an antenna system comprising at least one inductive element and two or more capacitive elements.
Utility
Doppler Ranging System
16 Jun 22
An extension of the LoRa modulation with an improved ranging mode.