Exhibit 99.1


[Semtech logo]
NEWS RELEASE

                     SEMTECH COMPLETES ACQUISITION OF XEMICS

                                                           5:00 a.m. PDT
                                                           Friday, June 24, 2005

         CAMARILLO,  CALIFORNIA,  June 24, 2005 - SEMTECH  CORPORATION  (NASDAQ:
SMTC),  a  leading  producer  of  high   performance   analog  and  mixed-signal
semiconductors,  announced that on June 23, 2005 it  successfully  completed the
acquisition of XEMICS SA, a fabless  developer of ultra-low power analog,  radio
frequency (RF) and digital integrated  circuits (IC). Semtech announced plans to
acquire XEMICS on June 20, 2005.

         Swiss-based  XEMICS was acquired by Semtech  International  AG, Semtech
Corporation's  wholly-owned  Swiss  subsidiary.  Xemics will continue to operate
from its  Neuchatel,  Switzerland  location and will be referred to as Semtech's
Wireless and Sensing Products business unit.

         As previously  announced,  Semtech estimates that in the second quarter
that ends July 31, 2005, it will incur a one-time  acquisition related charge to
earnings  of $4 million to $5  million  for the  write-off  of  in-process  R&D.
Consistent  with  purchase  accounting  treatment  of  the  acquisition,   other
intangible  items will be amortized over the current quarter and future periods.
The amount of acquisition  related charges are subject to the final valuation of
XEMICS.

         XEMICS'  results  of  operations  will be  consolidated  with  those of
Semtech's beginning at the time of the transaction's  close. XEMICS' revenue for
the period of June 24, 2005 to July 31, 2005
 is  forecasted to be  approximately  $2.5  million.  Excluding the  acquisition
related items discussed above,  Semtech expects the transaction to be neutral to
its earnings initially and become accretive within two quarters.

         About Semtech and XEMICS

         Semtech  Corporation is a leading  supplier of analog and  mixed-signal
semiconductors  used in a wide range of computer,  industrial and  communication
applications.

         XEMICS is a research and development  (R&D) intensive  company based in
Switzerland.  XEMICS applies its low-power,  low-voltage design expertise across
its core technologies -- sensor





interfacing/data acquisition,  8-bit RISC microcontrollers,  RF transceivers and
audio Codecs.  These  capabilities are aimed at adding value in next generation,
highly integrated battery powered wireless and sensing applications.

          Forward-Looking   and  Cautionary   StatementsThis   release  contains
"forward-looking statements" within the meaning of Section 27A of the Securities
Act  of  1933,  as  amended  (the  "Securities  Act"),  and  Section  21E of the
Securities  Exchange Act of 1934,  as amended.  Forward-looking  statements  are
statements other than historical  information or statements of current condition
and relate to matters such as the expected one-time charge,  the expected impact
of the transaction on earnings, future financial performance, future operational
performance,  and our plans,  objectives and expectations.  Some forward-looking
statements  may be identified by use of terms such as "expects,"  "anticipates,"
"intends," "estimates," "believes",  "projects",  "should",  "will", "plans" and
similar words.

         Forward-looking  statements  involve risks and uncertainties that could
cause actual results to differ materially from those projected.  These risks and
uncertainties  include  the  possibility  of a greater  than  expected  one-time
charge,  the  possibility of higher than  anticipated  amortization in any given
quarter, the possibility of material differences in other anticipated effects of
the  application  of purchase  accounting  rules,  the  possibility of less than
anticipated cost savings,  and the complexities of successfully  integrating the
workforces and technologies of the companies.  In addition to considering  these
risks and  uncertainties,  forward-looking  statements  should be  considered in
conjunction  with the  cautionary  statements  contained  in the "Risk  Factors"
section and elsewhere in the Company's Annual Report on Form 10-K for the fiscal
year ended  January 30, 2005, in its other filings with the SEC, and in material
incorporated  therein  by  reference.  In light of the risks  and  uncertainties
inherent  in  forecasts  of  revenue  and gross  margin  and in other  projected
matters, forward-looking statements should not be regarded as representations by
the  Company  that its  objectives  or plans will be achieved or that any of its
operating  expectations  or financial  forecasts  will be realized.  The Company
assumes  no  obligation  to  update or revise  any  forward-looking  statements,
whether as a result of new information, future events or otherwise.

   Investor Relations Contact

John Baumann, Treasurer, Telephone: 805-480-2010