---
schema_version: "secwatch.filing_event.v1"
accession: "0000088941-23-000015"
form_type: "8-K"
ticker: "SMTC"
cik: "0000088941"
company_name: "SEMTECH CORP"
filed_at: "2023-06-07T23:59:59+00:00"
generated_at: "2026-06-14T06:15:34.232369+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Semtech Q1 FY2024 net sales $236.5M (+17% YoY); GAAP loss $0.46, non-GAAP EPS $0.02

## Summary
- Net sales $236.5M, up 41.2% sequentially and 17.0% year-over-year.
- GAAP gross margin 43.5%; non-GAAP gross margin 48.5%.
- GAAP diluted loss per share $0.46; non-GAAP diluted EPS $0.02.
- Appointed Paul H. Pickle as next president and CEO, effective May 30, 2023.
- Entered second amendment to credit agreement for additional financial covenant cushion on June 6, 2023.

## SEC filing metadata
- accession: 0000088941-23-000015
- form_type: 8-K
- ticker: SMTC
- cik: 0000088941
- company_name: SEMTECH CORP
- filed_at: 2023-06-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/88941/000008894123000015/0000088941-23-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/88941/000008894123000015/smtc-20230607.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000088941-23-000015
- JSON: https://secwatch.observer/filing/0000088941-23-000015.json
- Plain text: https://secwatch.observer/filing/0000088941-23-000015.txt

## Key facts
- Earnings Releases
  SEMTECH CORP reported the first quarter of fiscal year 2024, which ended April 30, 2023 results: revenue $236.5 million, net income $29.4 million, EPS $0.46 diluted loss per share.
  - Period: the first quarter of fiscal year 2024, which ended April 30, 2023
  - Revenue: $236.5 million
  - Net income: $29.4 million
  - EPS: $0.46 diluted loss per share
  - Result: reported results
  source text: Results on a GAAP basis for the First Fiscal Quarter 2024 • Net sales were $236.5 million • GAAP Gross margin was 43.5% • GAAP SG&A expense was $58.1 million • GAAP R&D expense was $51.8 million • GAAP Operating margin was (5.0)% • GAAP Interest expense was $20.5 million - more - 2 Semtech Announces First Quarter of Fiscal Year 2024 Results • GAAP Net loss attributable to common stockholders was $29.4 million or $0.46 diluted loss per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/88941/000008894123000015/0000088941-23-000015-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.