Page 1

Semtech Announces Second Quarter of Fiscal Year 2022 Results Exhibit 99.1 CAMARILLO , Calif .-- ( BUSINESS WIRE ) -- September 1 , 2021 -- Semtech Corporation ( Nasdaq : SMTC ) , a leading supplier of high performance analog and mixed - signal semiconductors and advanced algorithms , today reported unaudited financial results for its second quarter of fiscal year 2022 , which ended August 1 , 2021 . Highlights for the Second Fiscal Quarter 2022 • Record net sales of $ 185.0 million , an increase of 9 % sequentially and 29 % year - over - year • GAAP and non - GAAP gross margin grew sequentially 90bps and 70bps to 62.4 % and 62.7 % , respectively • Record GAAP diluted earnings per share of $ 0.50 and record non - GAAP diluted earnings per share of $ 0.65 • • . Record Wireless and Sensing products group net sales driven by record LoRa® and record proximity sensing net sales Record Signal Integrity products group net sales driven by record Tri - Edge ™ and record 10G PON net sales Record operating cash flow of $ 53.0 million or 29 % of Q2 FY2022 net sales Repurchased 639,519 shares for $ 42.0 million during Q2 FY2022 Results on a GAAP basis for the Second Fiscal Quarter 2022 • Net sales were $ 185.0 million • GAAP Gross margin was 62.4 % • • • GAAP SG & A expense was $ 42.0 million GAAP R & D expense was $ 35.5 million GAAP Operating margin was 19.8 % GAAP Net income attributable to common stockholders was $ 32.9 million or $ 0.50 diluted earnings per share