Exhibit 99.1


Semtech Announces Completion of Accelerated Stock Buyback and Resumption
                 of Existing Stock Repurchase Program


    CAMARILLO, Calif.--(BUSINESS WIRE)--Dec. 3, 2007--SEMTECH
CORPORATION (NASDAQ: SMTC), a leading producer of high performance
analog and mixed-signal semiconductors, announced today that it
completed on December 3, 2007 an accelerated stock repurchase program
previously announced on May 30, 2007. The company paid approximately
$19.4 million purchase price adjustment to Goldman Sachs & Co. in
connection with the termination of the program. The Company has
purchased a total of 9,836,066 shares of its common stock for an
aggregate price of $169.4 million. The repurchase was funded with the
Company's existing cash, and the Company intends to hold the
repurchased shares as treasury stock.

    With the completion of the accelerated stock repurchase program,
the Company also announced today that it intends to resume purchasing
shares of its common stock under its existing stock repurchase
program, under which approximately $50.3 million of remaining
authority exists.

    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.

    FORWARD-LOOKING AND CAUTIONARY STATEMENTS

    This 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 conditions and relate
to matters such as future financial performance, future operational
performance, the anticipated impact of specific items on future
earnings, and our plans, objectives and expectations, including with
respect to the accelerated and existing stock repurchase programs.
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 worldwide economic and political
conditions, the timing and duration of semiconductor market upturns or
downturns, demand for cellular phones, personal computers and
automated test equipment, demand for semiconductor devices in general,
demand for the Company's products in particular, competitors' actions,
supply from key third-party silicon wafer foundries and assembly
contractors, manufacturing costs and yields, relations with strategic
customers, risks associated with the businesses of major customers,
and risks associated with the accelerated and existing stock
repurchase programs, including the time to complete the programs and
the extent of any true-up adjustment to the initial purchase price. 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 28, 2007, in the Company's 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.

    CONTACT: Semtech Corporation
             Todd German, Investor Relations, 805-480-2004