First Solar (FSLR) vs Semtech (SMTC)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 10, 2026.
Summary
Semtech (SMTC) has outperformed First Solar (FSLR) over the past year, gaining 167.4% versus a loss of 24.1%. Over five years, SMTC leads with a +143.1% price change compared with +69.2% for FSLR. First Solar is the larger company by market cap ($19.11 billion vs $17.48 billion), about 1.1 times the size.
On valuation, First Solar trades at a lower forward P/E (7.7x vs 32.0x for Semtech). First Solar converts more of its revenue into profit, with a net margin of 29.3% versus -3.8%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | FSLR | SMTC |
|---|---|---|
| Share price | $177.82 | $187.30 |
| Market cap | $19.11B | $17.48B |
| 1-day change | -0.58% | -0.10% |
| YTD return | -31.93% | +154.17% |
| 1-year return | -24.11% | +167.42% |
| 5-year return | +69.18% | +143.06% |
| P/E ratio (TTM) | 10.96 | 124.04 |
| Forward P/E | 7.67 | 31.98 |
| EPS (TTM) | $16.22 | $1.51 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $5.22B | $1.05B |
| Revenue growth (YoY) | +24.09% | +15.47% |
| Net income (latest FY) | $1.53B | $-40.38M |
| Gross margin | 40.62% | 51.63% |
| Operating margin | 30.59% | 3.10% |
| Net margin | 29.28% | -3.85% |
| 52-week high | $320.95 | $201.99 |
| 52-week low | $168.60 | $60.28 |
| Distance from 52-week high | -44.60% | -7.27% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +54.35% | +13.44% |
| Average volume | 2.28M | 2.94M |
| Shares outstanding | 107.47M | 93.33M |
| Employees | 7,900 | 1,920 |
| Sector | Technology | Technology |
| Industry | Semiconductors | Semiconductors |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- SMTC has outperformed FSLR by 191.5 percentage points over the past year.
- Semtech trades at a higher earnings multiple (124.0x vs 11.0x trailing P/E).
- First Solar is more profitable, keeping 29.3 cents of every revenue dollar as net income versus -3.8 cents for Semtech.
- First Solar grew revenue faster in its latest fiscal year (+24.09% vs +15.47%).
About First Solar
FSLR stock →First Solar, Inc., a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally. The company manufactures and sells PV solar modules with thin film semiconductor technology that provides conventional crystalline silicon PV solar modules.
Technology · Semiconductors · 7,900 employees
About Semtech
SMTC stock →Semtech Corporation provides semiconductor, Internet of Things systems, and cloud connectivity service solutions in the Asia- Pacific, North America, and Europe. The company operates in three segments: Signal Integrity, Analog Mixed Signal and Wireless, and IoT Systems and Connectivity.
Technology · Semiconductors · 1,920 employees
FSLR vs SMTC FAQ
Which is bigger, First Solar or Semtech?
First Solar (FSLR) is larger, with a market capitalization of $19.11B compared with $17.48B for Semtech (SMTC).
Which stock has performed better over the past year, FSLR or SMTC?
SMTC returned +167.42% over the past 12 months, compared with -24.11% for FSLR (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FSLR or SMTC?
FSLR has the lower trailing P/E at 11.0, versus 124.0 for SMTC. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Are First Solar and Semtech in the same industry?
Yes. Both are classified in the Semiconductors industry within the Technology sector.