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Rich Schafer

Research Analyst at Oppenheimer & Co. Inc.

Rick Schafer is Managing Director and Senior Semiconductor Equity Analyst at Oppenheimer & Co. Inc., leading the firm’s semiconductor equity research franchise with deep specialization across communication ICs, analog, and power components. He actively covers 17 U.S. and Canadian companies including leaders such as Nvidia, Intel, and Veeco, and his stock recommendations have outperformed their sector by an average of 30% over the past four years, with a TipRanks analyst success rate of 74% and an average return of 26.8% per rating. Schafer started his analyst career as a financial analyst at Eurofon, Inc. & Co. KG in Germany before joining Oppenheimer in 1997, where he has steadily built his reputation as a top-rated analyst. He holds an MBA from the University of South Carolina, a BS in Finance and Multinational Business from Florida State University, and is registered with FINRA with multiple securities licenses.

Rich Schafer's questions to SEMTECH (SMTC) leadership

Question · Q2 2026

Rich Schafer from Oppenheimer asked for the outlook on the Tri-Edge (PAM4) business, given the industry's shift to 100G and 200G lanes, and questioned its potential as a future growth driver for Semtech.

Answer

CEO Hong Ho explained that Tri-Edge is currently used in 400G Active Optical Cables (AOCs) and is forecasted to ramp with a major U.S. CSP. The company plans to develop a 200G per lane Tri-Edge product, positioning it as a low-power, low-cost alternative to DSPs for the 1.6T transceiver market. He noted that capturing even 5-10% of this market would represent a significant opportunity.

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