SMTC
Semtech Corporation
SMTC has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over SMTC overall, supported by stronger fundamentals and stronger valuation.
SMTC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
SMTC's revenue, profitability, cash flow and balance sheet are all currently healthy.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
SMTC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 20x | $119 | — |
| Cheap | 23x | $34.23 | -71% |
| Fair | 65x | $96.99 | -19% |
| Current | 80x | $119 | — |
| Expensive | 104x | $155 | +30% |
Historical ranges are pointers, not guarantees.
SMTC's PE is in its fair range at 80x. If earnings grow as analysts expect, today's price would be 20x next year's earnings, in its cheap range.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK has the edge over SMTC in the historical PE scenario, which offers more potential upside but is not a forecast.
SMTC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect strong earnings and revenue growth for SMTC, with profitability improving. However, they disagree widely on these estimates.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for SNDK, with profitability improving.
SMTC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.04 | +306% |
| Q3 2026 | $1.49 | +140% |
| Q2 2026 | -$0.41 | +$1.27 |
| Q1 2026 | -$0.46 | +$1.80 |
| Q4 2025 | $0.69 | +$13.76 |
| Q3 2025 | $0.62 | +$14.19 |
| Q2 2025 | -$1.68 | +$15.25 |
| Q1 2025 | -$2.26 | +$14.77 |
| Q4 2024 | -$13.07 | -$5.24 |
SMTC's earnings per share have fallen from their peak: $1.49 over the past year, against $2.46 in mid-2022.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over SMTC in the latest year-over-year earnings comparison.
SMTC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $341.9M | +33% |
| Q2 2026 | $291M | +16% |
| Q1 2026 | $274.4M | +9.3% |
| Q4 2025 | $267M | +13% |
| Q3 2025 | $257.6M | +20% |
| Q2 2025 | $251.1M | +22% |
| Q1 2025 | $251M | +30% |
| Q4 2024 | $236.8M | +18% |
SMTC's revenue has grown year over year for eight quarters in a row: $342M last quarter, up 33% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | +23 points |
| Q2 2026 | 8.9% | -5.5 points |
| Q1 2026 | -6.7% | -15 points |
| Q4 2025 | 12% | +4.1 points |
| Q3 2025 | -6.3% | -9.9 points |
| Q2 2025 | 14% | +13 points |
| Q1 2025 | 8.5% | +330 points |
| Q4 2024 | 7.5% | +14 points |
SMTC's operating margin was 16% last quarter, up 23 points from the same quarter a year ago.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK's revenue has grown year over year for six quarters in a row: $11B last quarter, up 378% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK has the edge over SMTC on profitability, with a higher operating margin.
SMTC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $61.4M | +48% |
| Q2 2026 | $28M | +7% |
| Q1 2026 | $59.1M | +91% |
| Q4 2025 | $44.6M | +53% |
| Q3 2025 | $41.5M | +$49.9M |
| Q2 2025 | $26.2M | +$27.6M |
| Q1 2025 | $30.9M | +153% |
| Q4 2024 | $29.1M | +$41.5M |
SMTC has the edge over SNDK on cash flow, with more consistent year-over-year improvement.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK generated $17.4B in free cash flow over the past year, more than ten times what it generated the year before.
SMTC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.9% | +2.8M shares |
| 1 year | +16% | +14.1M shares |
| 3 years | +58% | +36.8M shares |
| 5 years | +54% | +35.3M shares |
| Available history | +50% | +33.5M shares |
SMTC has 101M diluted shares, up 16% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $50M |
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has the edge over SMTC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
SMTC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2020 | -0.8x | Net Cash |
| Q3 2020 | -0.9x | Net Cash |
| Q2 2020 | -0.8x | Net Cash |
| Q1 2020 | -1.0x | Net Cash |
| Q4 2019 | -0.7x | Net Cash |
SMTC has more cash than debt.
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK has more cash than debt.
SMTC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.9 | Neutral |
| Stochastic | 20.9 | Neutral |
SMTC's weekly RSI is 45 (neutral) and its Stochastic is 21 (neutral).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (oversold).
SMTC PE vs Technology Sector
| Metric | SMTC | Sector median | Relative |
|---|---|---|---|
| PE | 80x | 28x | 188% above |
| PE % | 65 | 35 | 30 pts above |
SMTC is trading at 80x earnings, a 188% premium to the Technology sector's median of 28x.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK has the edge over SMTC on valuation relative to its sector.
SMTC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $147.9 | 19% below |
| 20 week MA | $142.9 | 16% below |
| 50 week MA | $118.0 | 1.2% above |
| 100 week MA | $84.7 | 41% above |
| 200 week MA | $57.2 | 109% above |
SMTC has stronger trend alignment. SMTC is above 3 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-week average.
SMTC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $52.1 | $71.7 | +38% |
| 2021 | $71.7 | $86.9 | +21% |
| 2022 | $86.9 | $27.5 | -68% |
| 2023 | $27.5 | $21.9 | -20% |
| 2024 | $21.9 | $63.3 | +189% |
| 2025 | $63.3 | $76.1 | +20% |
| 2026 YTD | $76.1 | $119.4 | +57% |
SMTC's yearly returns have swung widely, from +189% in 2024 to −68% in 2022. It's up 57% so far in 2026.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over SMTC on returns for 2026, with the stronger performance.