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Semtech vs Array Technologies: SMTC and ARRY compared
Semtech is the larger company: $342M of revenue in its latest quarter (Q2 FY27) against $330M for Array Technologies (Q3 2026). Semtech is growing faster (+33% against -16% a year earlier). Semtech is more profitable, with an operating margin of 16.3% against 4.2%.
Where the money goes: SMTC and ARRY
Semtech (SMTC) · Q2 FY27
Semtech, Q2 FY27: revenue $342M (+33% year over year), operating margin 16.3%, net earnings $160M, operating cash flow $68.9M. The chart follows the revenue to costs, profit and cash.
Array Technologies (ARRY) · Q3 2026
Array Technologies, Q3 2026: revenue $330M (-16% year over year), operating margin 4.2%, net earnings $8.2M, operating cash flow $4.6M. The chart follows the revenue to costs, profit and cash.
| Semtech (SMTC) | Array Technologies (ARRY) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q3 2026 |
| Revenue | $342M | $330M |
| Revenue growth, Y/Y | +33% | -16% |
| Gross margin | 53.8% | 21.0% |
| Operating margin | 16.3% | 4.2% |
| Net earnings | $160M | $8.2M |
| Net margin | 46.8% | 2.5% |
| Operating cash flow | $68.9M | $4.6M |
| Free cash flow | $61.4M | — |
| Market value | $10.1B | $528M |
| Analysts’ mean target | $217.07 | $6.98 |
Questions
Which is bigger, Semtech or Array Technologies?
Semtech is the larger company: $342M of revenue in its latest quarter (Q2 FY27) against $330M for Array Technologies (Q3 2026).
Is Semtech or Array Technologies growing faster?
Semtech is growing faster (+33% against -16% a year earlier).
Which is more profitable, Semtech or Array Technologies?
Semtech is more profitable, with an operating margin of 16.3% against 4.2%.
More: Semtech earnings · how Semtech makes money · Array Technologies earnings · how Array Technologies makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 26, 2026; 8-K filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.