$SMTC

Semtech (SMTC) reported record Q2 FY2027 revenue of $341.9M, up 33% YoY, driven by 91% growth in data center chip sales to $100M. The company's power-efficient analog chip architecture for AI data centers outperformed competitors. Adjusted EPS was $0.71, beating estimates. LoRa IoT product sales grew 58% YoY to $58M. Management highlighted strong execution and portfolio optimization.

Semtech (SMTC) reported Q2 revenue of $341.9M, beating estimates by 4%, with adjusted EPS of $0.71, a 15.6% beat. Q3 guidance exceeds expectations, with revenue and EPS forecasts of $410M and $1.05, respectively. Data center and IoT growth, portfolio refocusing, and margin expansion are key drivers. Operating margins improved to 16.3%, up from -6.3% YoY.

Semtech (NASDAQ: SMTC) began producing LR2022 and LR2012 transceivers, expanding its LoRa Plus family for IoT. The devices support high-speed data and low-latency applications. Early adopters include Zenner USA and Engelmann Sensor. Semtech also announced selling its cellular module business to Compal for $62M, focusing on AI and IoT.

Stocks rose slightly on mixed US economic news. Crude oil prices fell over 8% this week on easing Middle East tensions. S&P 500 Q2 earnings growth is tracking at 32%, driven by AI spending. Summit Therapeutics (SMMT) and Semtech (SMTC) gained over 8% on positive earnings. Kohl's (KSS) and Intuit (INTU) fell over 4% on weak forecasts.

Semtech Corporation reported Q2 2027 earnings, highlighting record data center revenue of $100M, up 91% YoY. The company secured design wins and sold its cellular module business to focus on high-margin areas. It projects 45% sequential revenue growth in data center for Q3 and a structural gross margin shift to 64% post-divestiture. Management discussed capacity investments, LoRa growth, and 3.2T transceiver opportunities.

Northland Capital Markets upgraded Semtech (SMTC) to Outperform with a $182 price target, citing its growing share in AI connectivity. The firm expects data center revenue to reach 44% of total revenue by 2027. Semtech reported Q2 non-GAAP EPS of $0.71 on $342M revenue, beating estimates. Infrastructure sales rose 25% sequentially and 69% year over year, with data center revenue hitting a record $100M.

Semtech (SMTC) shares rose 5.4% premarket after Northland upgraded it to Outperform with a $182 price target, citing AI-driven demand for connectivity solutions. Analyst Gus Richard expects data center revenue to grow to 44% of total by 2027, boosting gross margins. Baird also raised its target to $300.

Analysts from Truist and BMO Capital provided updates on nCino (NCNO), Semtech (SMTC), and Intuit (INTU). NCNO received a Hold rating with a $20.00 target, SMTC a Buy with a $155.00 target, and INTU a Buy with a $412.00 target. Analyst consensus for NCNO is Moderate Buy ($23.20 avg. target), for SMTC is Strong Buy ($199.83 avg. target), and for INTU is Moderate Buy ($385.35 avg. target).

Semtech (SMTC) stock rose 9% after reporting Q2 revenue of $341.9M (up 32.7% YoY) and adjusted EPS of $0.71, beating estimates. Q3 guidance exceeded expectations with projected revenue of $410M. Growth was driven by data center and LoRa-enabled sales, with improved margins and operational efficiency.

Abercrombie & Fitch (ANF) rose 37% after beating Q2 estimates and raising its full-year outlook. Intuit (INTU) fell 4% due to disappointing FY2027 guidance. Meta (META) gained 3% after settling a case with state attorneys general. Zoom (ZM) dropped 7% after its Q3 forecast missed expectations. Kohl's (KSS) increased 2% after raising its full-year outlook. J.M. Smucker (SJM) climbed 3% on strong Q1 results. SolarEdge (SEDG) jumped 8% following a UBS upgrade. Semtech (SMTC) rose over 8% after beat