Semtech beats Q2 estimates and guides sharply above consensus

$SMTC delivered a strong Q2 FY27 report across revenue, earnings and margins.
Revenue came in at $341.9M versus $328.6M expected, up 33% year over year.
Adjusted EPS was $0.71 versus $0.61 expected, while adjusted EBITDA reached $91.1M versus $79.6M expected.
The bigger surprise was guidance.
Semtech expects Q3 revenue of roughly $410M versus $379M consensus and adjusted EPS of $1.05 versus $0.73 expected.
Management also pointed to accelerating bookings and record backlog, with visibility extending well into next fiscal year.
For $SMTC, the setup is increasingly about sustained revenue and margin expansion rather than a one-quarter beat.