Semtech Corporation announced a definitive agreement to sell its cellular module business to Compal Electronics for $62 million in cash. The transaction involves the transfer of substantially all assets, operations, intellectual property, customer relationships, and personnel associated with the divested unit. Both companies' boards have approved the deal, which is expected to close in the fourth quarter of Semtech's 2027 fiscal year, pending customary closing conditions and regulatory approvals. This strategic move allows Semtech to concentrate resources on its data center networking and LoRa connectivity segments. Semtech Corporation operates in the semiconductor industry, providing high-performance chips for AI data centers, IoT, and connected devices.

Semtech Corporation entered into a $360 million revolving credit facility and an uncommitted incremental term loan facility with Morgan Stanley Senior Funding, Inc. as administrative agent. The credit facility is intended for working capital, general corporate purposes, and refinancing existing debt, including the termination of a previous credit agreement with JPMorgan Chase Bank, N.A. The Revolving Loan Facility matures on July 6, 2031, with a springing maturity clause related to 2030 Convertible Senior Notes. Semtech Corporation is a semiconductor company that provides high-performance analog and mixed-signal semiconductor solutions.

Semtech Corporation announced an amendment and restatement of its Executive Severance Plan and the 2017 Long-Term Equity Incentive Plan, which increased the available shares for award grants by 4,300,000. Stockholders' voting results from the 2026 Annual Meeting of Stockholders held on June 4, 2026, included the election of nine directors, the ratification of Say-on-Pay, Say-on-Pay, and the approval of Plan Amendment.