Semtech Reports Strong Q2 Earnings with Record Sales in Data Center and LoRa Products
Semtech (SMTC) reported strong second-quarter results for fiscal year 2027, driven by record sales across key business segments. Revenue reached $341.9 million, a 33% increase from the prior year, with data center revenue surging 91% to $100 million and LoRa revenue hitting an all-time high of $58 million, up 58%. The company also announced plans to divest its cellular module business, which is expected to be neutral for non-GAAP earnings per share. Looking ahead, Semtech provided upbeat guidance for Q3. It expects revenue in the range that implies a midpoint of $410 million and a projected year-over-year increase of 54%. The company anticipates continued growth in its data center segment with sequential gains expected to reach around 45%, or approximately 160% compared to last year, based on strong backlog levels. Management also highlighted ongoing efforts to secure additional manufacturing capacity amid concerns about potential supply chain constraints and geopolitical risks.
Tickers: $SMTC
Topics: data_center_growth loRa_performance non-gaap_eps revenue