Semtech's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Semtech (SMTC) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Semtech vs Its Competitors
- TTM: Trailing 12-month revenue of 909M vs 223,326M combined for its competitors (0.4% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+50.4% annualized vs trailing 12 months), vs accelerating (+15.6%) for its tracked peer group.
- Growth: Semtech generated 151.2% revenue growth year over year in Q2 2026, vs 47.5% for its competitors combined.
- Profitability: Its 46.8% net margin compares with 29.7% for the peer group.
- Scale: Semtech ranks #31 of 115 companies by market capitalization in the Semiconductors industry, holding 0.1% of industry market cap.
- Peer revenue share: Semtech accounted for 0.5% of combined revenue among its tracked peer group, up from 0.3% a year earlier.
- Peer differentiation: Revenue per employee of $0.47M compares with $0.45M for the peer group (1.0x).
- Structure: Semtech operates in the following segments: Signal Integrity Products Group, Advanced Protection and Sensing Products Group, IoT Systems and Connectivity.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
SMTC Sales vs. its Competitors, Q2 2026
Semtech reported revenue growth of 151.18 % year on year in Q2 2026, above its competitors' combined revenue growth of 47.46 %.
With a net margin of 46.84 %, Semtech achieved higher profitability than its competitors (29.71 %).
Semtech generated 0.53 % of the combined sales of its peer group, up from 0.31 % a year earlier.
API endpoints for this dataset
Semtech vs. its Competitors, Q2 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Semtech reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Semtech and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Semtech Corp | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (9) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Semtech's competitor groups requires a Commercial License.
For context: the Semiconductors industry grew revenue 48.1% year over year, combined, vs 151.2% for Semtech. Semtech's share of combined industry revenue moved from 0.03% to 0.06%, a gain of 0.02 percentage points.
Semtech's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Semtech Corp | Yes | Yes | Yes | No |
| Competitors combined (38) | ||||
| High-Confidence Competitors (18) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
SMTC Stock Performance relative to its Competitors
SMTC Stock Performance relative to High-Confidence Competitors
SMTC Stock Performance relative to Similar-Size Competitors
SMTC Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Maxlinear Inc | 282.9% | Outperformed |
| 2 | Silicom Ltd | 282.9% | Outperformed |
| 3 | Silicon Laboratories Inc | 282.9% | Outperformed |
| 4 | Texas Instruments Incorporated | 282.9% | Outperformed |
| 5 | Lattice Semiconductor Corp | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Semtech's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Semtech's Comment on Competition and Industry Peers
Publicly Traded Peers of Semtech Corp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Semtech Corp |
10,407.80 | 909.17 |
 Broadcom Inc |
1,435,263.03 | 89,104.00 |
 Texas Instruments Incorporated |
255,448.56 | 20,766.00 |
 Amphenol Corporation |
192,658.51 | 33,046.10 |
 Analog Devices Inc |
178,310.91 | 12,740.34 |
 Marvell Technology Inc |
126,133.96 | 8,715.90 |
| SUBTOTAL | 2,649,910.34 | 252,360.07 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Semtech Corp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Semtech's Competitors Named by the Company
Competitive relationships identified from Semtech reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Alpha And Omega Semiconductor Limited | Company report | 85% |
| Littelfuse Inc | Company report | 85% |
| Maxlinear Inc | Company report | 85% |
| Airgain Inc | Company report | 85% |
| Alibaba Group Holding, Ltd. | Company report | 85% |
| Hewlett-Packard | Company report | 85% |
| Lumentum Holdings Inc. | Company report | 85% |
| Raytheon Company | Company report | 85% |
| Ericsson | Company report | 85% |
| Itron, Inc. | Company report | 85% |
| Panasonic Corp | Company report | 85% |
| Sharp Corporation | Company report | 85% |
| Alphabet Inc. | Company report | 85% |
| Honeywell Inc. | Company report | 85% |
| Rockwell Automation | Company report | 85% |
| Vivo Technology Co., Ltd. | Company report | 85% |
| Helium | Company report | 85% |
| LG Electronics Inc. | Company report | 85% |
| Quanta Computer | Company report | 85% |
| Sonova | Company report | 85% |
| Cisco Systems, Inc. | Company report | 85% |
| Nokia Corporation | Company report | 85% |
| Samsung Electronics Co., Ltd. | Company report | 85% |
| Sonova International | Company report | 85% |
| LuxNet Corp | Company report | 85% |
| Huawei Technologies Co., Ltd. | Company report | 85% |
| Maxim Integrated Products Inc | Company report | 85% |
| Microsemi Corp | Company report | 85% |
| Monolithic Power Systems Inc | Company report | 85% |
| Macom Technology Solutions Holdings Inc | Company report | 85% |
| On Semiconductor Corporation | Company report | 85% |
| Qorvo Inc | Company report | 85% |
| Silicon Laboratories Inc | Company report | 85% |
| Nxp Semiconductors N v | Company report | 85% |
| Power Integrations Inc | Company report | 85% |
| Analog Devices Inc | Company report | 85% |
| Skyworks Solutions Inc | Company report | 85% |
| Lattice Semiconductor Corp | Company report | 85% |
| Broadcom Inc | Company report | 85% |
| Quicklogic Corp | Company report | 85% |
| Texas Instruments Incorporated | Company report | 85% |
Company report basis, confidence, active dates and source counts for Semtech's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Semtech's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Semtech Corp | Signal Integrity Products Group 66.90 % |
| Broadcom Inc | Semiconductor Solutions 64.81 % |
| Texas Instruments Incorporated | Analog 81.11 % |
| Amphenol Corporation | Communications Solutions Segment 64.81 % |
| Marvell Technology Inc | Reportable 100.00 % |
| Corning Inc | Optical Communications 49.00 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Semtech's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Semtech Corp | 10,408 | 473,525 | 16,931 |
| Broadcom Inc | 1,435,263 | 2,700,121 | 1,159,545 |
| Texas Instruments Incorporated | 255,449 | 629,273 | 215,545 |
| Amphenol Corporation | 192,659 | 194,389 | 35,099 |
| Analog Devices Inc | 178,311 | 520,014 | 135,242 |
| Marvell Technology Inc | 126,134 | 1,165,227 | 676,350 |
| PEERS TOTAL | 2,639,503 | 453,932 | 125,638 |
Semtech's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Broadcom Inc | Asia Pacific 60.15 % |
| Amphenol Corporation | Other foreign locations 47.08 % |
| Marvell Technology Inc | China 43.75 % |
| Te Connectivity plc | Asia Pacific 36.91 % |
| Monolithic Power Systems Inc | CHINA 48.68 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Semtech's Position in Industry Market Structure
Market-capitalization share and concentration across all 107 companies in Semtech's industry classification, broader than the peer set above. Market cap in millions of $.Semtech ranks #31 of 107 companies by market capitalization in its industry, holding 0.10 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 2,187, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Nvidia Corp | 4,532,552 | 45.12 % |
| 3 | Micron Technology Inc | 790,050 | 7.86 % |
| 4 | Advanced Micro Devices Inc | 744,957 | 7.42 % |
| 5 | Intel Corporation | 287,253 | 2.86 % |
| 6 | Applied Materials Inc | 1,234 | 5.2% |
| 7 | Texas Instruments Incorporated | 1,234 | 5.2% |
| 8 | Arm Holdings Plc | 1,234 | 5.2% |
| 9 | Analog Devices Inc | 1,234 | 5.2% |
| 10 | United Microelectronics Corporation | 1,234 | 5.2% |
| 11 | Marvell Technology Inc | 1,234 | 5.2% |
| 31 | Semtech Corp | 10,408 | 0.10 % |
Market cap and industry share for the rest of Semtech's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Semtech's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 26 | Macom Technology Solutions Holdings Inc | 16,543 | 37.55 % |
| 27 | Tower Semiconductor Ltd | 15,601 | 60.52 % |
| 28 | Lattice Semiconductor Corp | 14,727 | 66.46 % |
| 29 | Skyworks Solutions Inc | 12,444 | 12.93 % |
| 30 | Sitime Corporation | 1,234 | 12.3% |
| 31 | Semtech Corp | 10,408 | 45.51 % |
| 32 | Amkor Technology Inc | 1,234 | 12.3% |
| 33 | Rambus Inc | 1,234 | 12.3% |
| 34 | Sanmina Corporation | 1,234 | 12.3% |
| 35 | Silicon Laboratories Inc | 1,234 | 12.3% |
| 36 | Ttm Technologies Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Semtech's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Semtech's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Semiconductors industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (180 companies). See the full Semiconductors industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 67.31 % | 29.37 % (avg) | +37.9 pp |
| Operating Margin | 12.29 % | industry median | +9.3 pp |
| EBITDA Margin | 9.27 % | 4.97 % (avg) | +4.3 pp |
| Capital Intensity (Capex / Revenue) | 3.32 % | 8.78 % (avg) | -5.5 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Semtech's Valuation vs Competitive Position
Valuation multiples vs the Semiconductors industry average (180 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Semiconductors industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 87.7x | 39.2x | +48.6x |
| EV / EBITDA | 160.1x | 21.5x | +138.6x |
| P/B | 21.6x | 6.0x | +15.7x |
| Return on Equity | 5.33 % | industry aggregate | -40.85 % |
| Return on Invested Capital | 6.56 % | -0.97 % (avg) | 7.53 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Semtech's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 6.69 % | -12.70 % | 0.00 % | 8.69 % | 24.49 % | 14.63 % | 4.59 % | -24.56 % |
| Operating Margin | 15.70 % | 11.09 % | 9.50 % | 12.60 % | 19.57 % | 10.70 % | 5.51 % | 7.30 % |
| Return on Invested Capital | 5.93 % | 3.71 % | 3.19 % | 4.39 % | 6.86 % | 4.83 % | 4.80 % | 3.06 % |
| P/E | 42.9x | 88.4x | 142.2x | 91.4x | 15.2x | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Semtech's Strategic Group Map
Semtech is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Semtech's trailing-12-month revenue growth of 20.2% and operating margin of 12.3% compares with an average of 19.5% growth and 13.2% margin across its 8 closest peers by combined growth, margin and ROIC -- Semtech sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Semtech's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Semtech falls in the Question Mark quadrant: relative market share of 0.00x vs its largest competitor, in an industry growing revenue 10.2% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: Nvidia Corp alone holds 45% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
Semtech's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 2,187 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.32 % vs industry average 8.78 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Semtech's dedicated Suppliers and Customers pages, not here.
Semtech's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Semtech falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Semtech's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 9.3 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+50.4% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Return on equity 40.9 points below the industry aggregate.
- Low relative market share vs the industry leader (0.00x).
Opportunities
- Industry revenue growing at a healthy 10.2% median pace.
Threats
- Industry dominated by Nvidia Corp, holding 45.12 % of industry market cap.
Methodology: see Methodology: SWOT Analysis.
Semtech's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Semtech Corp | 0.59 | 2.15 | 0.81 |
| Broadcom Inc | 0.99 | 2.05 | 0.75 |
| Texas Instruments Incorporated | 1.17 | 4.81 | 0.84 |
| Amphenol Corporation | 0.27 | 2.07 | 1.78 |
| Analog Devices Inc | 0.70 | 2.08 | 0.25 |
| Marvell Technology Inc | 0.98 | 2.25 | 0.31 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Semtech's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Semtech Corp | Q2 2026 | +151.2 % | - |
| Broadcom Inc | Q2 2026 | +85.5 % | +216.1 % |
| Texas Instruments Incorporated | Q3 2026 | +27.7 % | +77.8 % |
| Amphenol Corporation | Q3 2026 | +65.1 % | +62.1 % |
| Analog Devices Inc | Q1 2026 | +37.2 % | +106.5 % |
| Marvell Technology Inc | Q1 2026 | +27.6 % | -70.1 % |
| PEERS TOTAL | +47.3 % | +120.3 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Semtech's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Semtech Corp | Q2 2026 | +7,805.4 % | +59.8 % |
| Broadcom Inc | Q2 2026 | +74.0 % | +274.6 % |
| Texas Instruments Incorporated | Q3 2026 | +7.4 % | -61.3 % |
| Amphenol Corporation | Q3 2026 | +62.0 % | +77.8 % |
| Analog Devices Inc | Q1 2026 | +15.1 % | - |
| Marvell Technology Inc | Q1 2026 | +22.8 % | +30.3 % |
Semtech's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Semtech Corp | 2.20% | 2.97% | 5.33% |
| Broadcom Inc | 21.57% | 24.07% | 43.74% |
| Texas Instruments Incorporated | 20.08% | 21.75% | 40.51% |
| Amphenol Corporation | 14.02% | 14.13% | 39.48% |
| Analog Devices Inc | 6.90% | 7.53% | 9.78% |
| Marvell Technology Inc | 22.14% | 25.02% | 33.73% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Semtech's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Semtech Corp | 69.27 | 11.45 |
| Broadcom Inc | 37.41 | 16.11 |
| Texas Instruments Incorporated | 35.97 | 12.30 |
| Amphenol Corporation | 19.58 | 5.83 |
| Analog Devices Inc | 54.10 | 14.00 |
| Marvell Technology Inc | 56.94 | 14.47 |
| PEERS AVERAGE | 38.06 | 10.50 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.