Exhibit 99.1

Semtech Announces New $50 Million Stock Buyback Plan

    CAMARILLO, Calif.--(BUSINESS WIRE)--Feb. 24, 2004--Semtech
Corporation (Nasdaq: SMTC) today announced that its Board of Directors
has authorized a new $50 million stock buyback program. The new
program authorizes the repurchase of common stock from time to time
through negotiated or open market transactions.
    Under the Company's prior buyback program, which expired on
January 25, 2004, $262 million was spent to buyback convertible
subordinated notes and common stock since January 2001.

    About Semtech

    Semtech Corporation is a leading supplier of analog and
mixed-signal semiconductors used in a wide range of computer,
industrial and communication applications. Publicly traded since 1967,
Semtech is listed on the Nasdaq National Market under the symbol SMTC.

    CONTACT: Semtech Corporation
             John Baumann, 805-480-2010