Current Assets
Work in process
Semtech Work in process increased by 7.9% to $128.75M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 30.0%, from $99.07M to $128.75M. Over 5 years (FY 2021 to FY 2026), Work in process shows an upward trend with a 14.9% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
StatementBalance Sheet Statement
SectionCurrent Assets
CategoryEfficiency
SignalLower is better
VolatilityModerate
First reportedQ4 2016
Last reportedQ1 2027May 27, 2026
Parent metricInventories
How to read this metric
An increase may indicate production bottlenecks or scaling efforts, while a decrease suggests efficient throughput or reduced manufacturing activity.
Detailed definition
Represents the value of goods that have entered the production process but are not yet finished. For a manufacturer like...
Peer comparison
Peers in medical device manufacturing typically maintain lean WIP levels to optimize cash conversion cycles.
Metric ID:
inv_work_in_progressHistorical Data
21 periods
| Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $67.19M | $71.45M | $72.55M | $85.45M | $77.02M | $79.83M | $82.51M | $88.76M | $91.33M | $78.64M | $72.34M | $69.40M | $75.29M | $83.40M | $90.63M | $87.90M | $99.07M | $100.99M | $107.19M | $119.32M | $128.75M |
| QoQ Change | — | +6.3% | +1.5% | +17.8% | -9.9% | +3.6% | +3.4% | +7.6% | +2.9% | -13.9% | -8.0% | -4.1% | +8.5% | +10.8% | +8.7% | -3.0% | +12.7% | +1.9% | +6.1% | +11.3% | +7.9% |
| YoY Change | — | — | — | — | +14.6% | +11.7% | +13.7% | +3.9% | +18.6% | -1.5% | -12.3% | -21.8% | -17.6% | +6.0% | +25.3% | +26.6% | +31.6% | +21.1% | +18.3% | +35.8% | +30.0% |
| % of Inventories | 71.5% | 69.4% | 69.0% | 74.9% | 72.0% | 74.2% | 74.3% | 42.7% | 42.8% | 43.6% | 45.0% | 47.9% | 50.7% | 53.5% | 55.4% | 53.7% | 58.2% | 55.1% | 57.7% | 61.0% | 62.9% |
| Share Change | — | -2.2pp | -0.4pp | +6.0pp | -2.9pp | +2.1pp | +0.1pp | -31.5pp | +0.1pp | +0.8pp | +1.4pp | +2.8pp | +2.8pp | +2.8pp | +2.0pp | -1.7pp | +4.5pp | -3.1pp | +2.6pp | +3.2pp | +1.9pp |
Range$67.19M – $128.75M
CAGR+13.9%
Avg YoY Growth+12.0%
Median YoY Growth+14.6%
Current Streak5 quarters growth
Work in process at Other Companies
Frequently Asked Questions
- What is Semtech's work in process?
- Semtech (SMTC) reported work in process of $128.75M in Q1 2026.
- How has Semtech's work in process changed year-over-year?
- Semtech's work in process increased by 30.0% year-over-year, from $99.07M to $128.75M.
- What is the long-term trend for Semtech's work in process?
- Over 5 years (2021 to 2026), Semtech's work in process has grown at a 14.9% compound annual growth rate (CAGR), from $59.52M to $119.32M.
- What does work in process mean?
- The value of goods currently in the middle of the manufacturing process.