Semtech Corp. (NASDAQ:SMTC) on Tuesday posted better-than-expected first-quarter results and issued strong guidance.

Semtech reported quarterly earnings of 51 cents per share, which beat the consensus estimate of 45 cents, according to Benzinga Pro data. Quarterly revenue came in at $291 million, which beat the analyst consensus estimate of $283.45 million and was up from $251.1 million in the same period last year.

"Semtech is off to an exceptional start in fiscal year 2027, delivering record quarterly results and expanding design wins across our data center and LoRa businesses," said CEO Hong Hou.

Semtech expects second-quarter adjusted EPS of 59 cents to 63 cents, versus the 51 cent analyst estimate, and revenue in a range of $323 million to $333 million, versus the $300.63 million estimate.

Semtech shares gained 9.8% to $180.50 in pre-market trading.

These analysts made changes to their price targets on Semtech following earnings announcement.

  • Baird analyst Craig Ellis maintained the stock with an Outperform rating and raised the price target from $110 to $225.
  • Needham analyst N. Quinn Bolton maintained the stock with a Buy and raised the price target from $105 to $200.

Considering buying SMTC stock? Here’s what analysts think:

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