If you follow the semiconductor space, you know how quickly a stock can go from under the radar to grabbing investors’ attention. Semtech Corporation (SMTC) appears to be having one of those moments now. The company makes high-performance chips used in AI data center networking, IoT, cellular connectivity, and connected devices, positioning it within several markets that are getting plenty of investor attention.
That interest has reflected in SMTC stock. Shares are up double digits in 2026 – even after the recent pullback – as investors have responded to Semtech’s efforts to streamline the business and focus on areas with stronger growth potential. One recent move was the $62 million sale of its cellular module business, which allows the company to put more focus on opportunities such as AI data center networking. Semtech is also expanding its LoRa Plus portfolio, with the LR2022 and LR2012 IoT transceivers now in production.
