Christopher Rolland

Harsh Kumar

Quinn Bolton

Craig Ellis

Tore Svanberg

Cody Acree

Scott Searle

Cody Grant Acree

Timothy Arcuri

Auguste Richard

Dino

Joe Moore

Joseph Moore

Kyle Smith

Rich Schafer

Tristan Gerra

Tyler Bomba

- Semtech Corporation announced the pricing of a private offering of **$350 million** in aggregate principal amount of **0% convertible senior notes due 2030**.  **[88941_0001193125-25-237190_d98782dex991.htm:0]** 
- The offering is expected to generate approximately **$340.2 million in net proceeds** and is anticipated to close on or about **October 10, 2025**.  **[88941_0001193125-25-237190_d98782dex991.htm:0]** 
- Semtech plans to use the net proceeds to exchange approximately **$219.0 million** of its 1.625% convertible senior notes due 2027 and **$61.95 million** of its 4.00% convertible senior notes due 2028, as well as to repay **$56.3 million** principal amount of term loans.  **[88941_0001193125-25-237190_d98782dex991.htm:0]** 
- The new notes have an initial conversion price of approximately **$101.05 per share**, which represents a **42.50% premium** over Semtech's common stock last reported sale price on October 7, 2025.  **[88941_0001193125-25-237190_d98782dex991.htm:1]** 
- Following the exchanges, **$100.5 million** in aggregate principal amount of the 2027 Notes will remain outstanding, and none of the 2028 Notes will remain outstanding.  **[88941_0001193125-25-237190_d98782d8k.htm:9]**

Semtech Prices Private Offering of Convertible Senior Notes

- On **October 6, 2025**, Semtech Corporation announced its intent to offer **$350 million** in aggregate principal amount of **0% convertible senior notes due 2030** in a private placement to qualified institutional buyers.  **[88941_0001193125-25-231984_d80216dex991.htm:0]** **[88941_0001193125-25-231984_d80216d8k.htm:1]** 
- Semtech also plans to grant the initial purchasers an option to acquire up to an additional **$52.5 million** aggregate principal amount of these Notes.  **[88941_0001193125-25-231984_d80216dex991.htm:0]** **[88941_0001193125-25-231984_d80216d8k.htm:1]** 
- The net proceeds from the offering, along with shares of common stock, are intended to be used for exchanges of existing **1.625% convertible senior notes due 2027** and **4.00% convertible senior notes due 2028**, and to repay a portion of term loans under Semtech’s senior credit facilities.  **[88941_0001193125-25-231984_d80216dex991.htm:0]** 
- Semtech expects to enter into capped call transactions to generally reduce potential dilution to its common stock upon any conversion of the Notes.  **[88941_0001193125-25-231984_d80216dex991.htm:0]**

Semtech Announces Proposed Private Offering of Convertible Senior Notes

- Semtech Corp reported record net sales of **$257.6 million** for Q2 2026, marking a **20% year-over-year increase** and the sixth consecutive quarter of growth, with adjusted diluted earnings per share reaching **$0.41**, a substantial improvement from the prior year.  **[88941_tx_350818_5]** 
- The company significantly strengthened its balance sheet, reducing debt by **$879 million** since the CEO's tenure began, which resulted in an **80% year-over-year reduction in quarterly interest expense** and improved the net leverage ratio to **1.6x** at the close of Q2 2026, down from 8.8x a year ago.  **[88941_tx_350818_1]** **[88941_tx_350818_5]** 
- Growth was observed across all end markets, with infrastructure net sales increasing **39% year over year** driven by record data center revenues of **$52.2 million**, and high-end consumer net sales rising **11% year over year**.  **[88941_tx_350818_1]** **[88941_tx_350818_3]** 
- For Q3 2026, Semtech expects net sales of **$266 million** (plus or minus $5 million), anticipating continued sequential growth in the data center and high-end consumer markets, and slight growth in the industrial end market.  **[88941_tx_350818_5]** 
- The company is progressing with its data center solutions, expecting Linear Pluggable Optics (LPO) revenues to begin ramping in **Q4 2025** and Active Copper Cable (ACC) products to launch with US hyperscaler customers during **calendar year 2026**.  **[88941_tx_350818_2]**

Semtech Corp Reports Record Q2 2026 Net Sales and Strengthened Financial Position

- Semtech reported **record net sales of $257.6 million** for Q2 2026, representing a **20% year-over-year increase** and the sixth consecutive quarter of growth.  **[0000088941_2205423_5]** 
- The company significantly strengthened its balance sheet, reducing debt by **$879 million** since the CEO's tenure began and improving the net leverage ratio to **1.6x** at the close of Q2 2026 from 8.8x a year prior.  **[0000088941_2205423_1]** **[0000088941_2205423_1]** **[0000088941_2205423_1]** 
- Adjusted diluted earnings per share for Q2 2026 was **$0.41**, a substantial improvement from $0.11 recorded a year ago.  **[0000088941_2205423_5]** 
- Data Center net sales reached a **record $52.2 million**, growing **92% year-over-year**, while LoRa-enabled solutions net sales increased **29% year-over-year** to **$36.9 million**.  **[0000088941_2205423_1]** **[0000088941_2205423_1]** **[0000088941_2205423_1]** **[0000088941_2205423_3]** 
- For Q3 2026, Semtech expects net sales of **$266 million ± $5 million** and adjusted diluted earnings per share of **$0.44 ± $0.03**.  **[0000088941_2205423_5]** **[0000088941_2205423_6]**

Semtech Reports Record Q2 2026 Net Sales and Strong Financial Improvement

SEMTECH (SMTC)