Semtech's first quarter 2027 revenue surged 16% to $291M, beating estimates by over 20%.

Semtech Corporation reported first quarter fiscal 2027 revenue of $291.0 million, up 16% year-over-year, and non-GAAP EPS of $0.51. These results significantly exceeded analyst expectations for $241.5 million in revenue and $0.30 in EPS.

Key Highlights

• Net sales reached a record $291.0 million, representing an increase of 16% year-over-year and 6% sequentially.
• Non-GAAP adjusted operating margin expanded to 20.4%, compared to 19.0% in the same quarter last year and 18.2% in the prior quarter.
• The company guided for second quarter revenue of approximately $328.0 million, implying 12.7% sequential growth at the midpoint and well above prior consensus.