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SMTC Semtech

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

SMTC stock data

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Calendar

2 Jun 21
3 Aug 21
30 Jan 22
Quarter (USD)
May 21 Jan 21 Oct 20 Jul 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Jan 20 Jan 19 Jan 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Semtech earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 258.22M 258.22M 258.22M 258.22M 258.22M 258.22M
Cash burn (monthly) 3.56M 894K (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 10.92M 2.74M n/a n/a n/a n/a
Cash remaining 247.3M 255.47M n/a n/a n/a n/a
Runway (months of cash) 69.5 285.8 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
16 Jul 21 Mohan Maheswaran Common Stock Sell Dispose S No No 62.5699 894 55.94K 209,210
16 Jul 21 Mohan Maheswaran Common Stock Sell Dispose S No No 62.1742 19,106 1.19M 210,104
16 Jul 21 Mohan Maheswaran Common Stock Option exercise Aquire M No No 17.51 20,000 350.2K 229,210
16 Jul 21 Mohan Maheswaran Option SMTC Option exercise Dispose M No No 17.51 20,000 350.2K 0
15 Jul 21 Mohan Maheswaran Common Stock Sell Dispose S No No 62.7328 20,000 1.25M 209,210
15 Jul 21 Mohan Maheswaran Common Stock Option exercise Aquire M No No 17.51 20,000 350.2K 229,210
15 Jul 21 Mohan Maheswaran Option SMTC Option exercise Dispose M No No 17.51 20,000 350.2K 20,000
14 Jul 21 Mohan Maheswaran Common Stock Sell Dispose S No No 66.6764 47 3.13K 209,210
14 Jul 21 Mohan Maheswaran Common Stock Sell Dispose S No No 65.8427 3,391 223.27K 209,257
14 Jul 21 Mohan Maheswaran Common Stock Sell Dispose S No No 64.8234 26,562 1.72M 212,648

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

95.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 255 255
Opened positions 29 48 -39.6%
Closed positions 29 29
Increased positions 85 77 +10.4%
Reduced positions 101 93 +8.6%
13F shares
Current Prev Q Change
Total value 4.28B 4.54B -5.6%
Total shares 62.08M 62.96M -1.4%
Total puts 37.9K 41.8K -9.3%
Total calls 119K 120.2K -1.0%
Total put/call ratio 0.3 0.3 -8.4%
Largest owners
Shares Value Change
BLK Blackrock 7.38M $509.01M +1.2%
Vanguard 6.37M $439.24M +2.2%
FMR 6.19M $427.11M +3.8%
IVZ Invesco 3.16M $217.7M -26.4%
BK Bank Of New York Mellon 2.54M $175.06M +5.6%
STT State Street 2.32M $159.78M -0.7%
BEN Franklin Resources 2.01M $139.03M +48.6%
Alliancebernstein 1.81M $125.21M +9.5%
TROW T. Rowe Price 1.55M $106.7M -7.9%
JPM JPMorgan Chase & Co. 1.51M $104.31M +14.1%
Largest transactions
Shares Bought/sold Change
IVZ Invesco 3.16M -1.13M -26.4%
Norges Bank 0 -754.32K EXIT
BEN Franklin Resources 2.01M +658.57K +48.6%
WDR Waddell & Reed Financial 1.43M -656.75K -31.5%
Schroder Investment Management 1.31M +498.36K +61.5%
Millennium Management 367.87K +367.87K NEW
GS Goldman Sachs 200.5K -299.45K -59.9%
PRU Prudential Financial 625.26K -279.18K -30.9%
FMR 6.19M +224.29K +3.8%
MCQEF Macquarie 918.44K -190.68K -17.2%

Financial report summary

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Risks
  • The COVID-19 pandemic is adversely affecting, and is expected to continue to 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 change in 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.
  • 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.
  • 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 operate and account for results in one reportable segment through three product lines: Signal Integrity, Wireless and Sensing, and Protection.
  • Signal Integrity. We design, develop and market a portfolio of optical data communications and video transport products used in a wide variety of enterprise computing, communications, 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 800Gbps 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 ("Pro AV") applications.
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