<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a5296999ex991.txt
<DESCRIPTION>SEMTECH CORPORATION EXHIBIT 99.1
<TEXT>
                                                                    Exhibit 99.1

     Semtech Receives Additional Nasdaq Deficiency as Anticipated

                           Delisting Stayed


    CAMARILLO, Calif.--(BUSINESS WIRE)--Dec. 18, 2006--Semtech
Corporation (Nasdaq:SMTC) today announced that on December 14, 2006 it
received, as expected, an Additional Staff Determination from the
Nasdaq Stock Market ("Nasdaq") indicating that the Company's
previously announced delay in filing its Form 10-Q for the quarter
ended October 29, 2006 (the "Third Quarter Form 10-Q") constitutes an
additional deficiency that subjects the Company's securities to
delisting from The Nasdaq Global Market. Specifically, the failure to
timely file the Third Quarter Form 10-Q is a deficiency in complying
with the continued listing standard in Nasdaq Marketplace Rule
4310(c)(14).

    The Company previously received similar Staff Determinations from
Nasdaq regarding failure to timely file its reports for the fiscal
quarter ended April 30, 2006 ("First Quarter Form 10-Q") and the
fiscal quarter ended July 30, 2006 ("Second Quarter Form 10-Q") and a
Nasdaq Listing Qualifications Panel ("Panel") previously set November
10, 2006 as the deadline for the Company to file all required
restatements, its First Quarter Form 10-Q, and its Second Quarter Form
10-Q in order to regain compliance with Nasdaq's continued listing
standards. As previously announced, the Nasdaq Listing and Hearings
Review Council ("Listing Council"), in response to the Company's
request, has called the Panel's decision for review and has stayed any
future Panel determinations to suspend the Company's securities from
trading until the review process runs its course. If the Listing
Council determines it is appropriate, it may grant the Company
additional time to regain compliance, until the earlier of 60 days
from the date of its decision or 180 days from the Panel's decision.

    The Company continues to cooperate with Nasdaq and will present
its views with respect to the Additional Staff Determination by
December 21, 2006, as requested by Nasdaq. It also continues to work
diligently to file all required reports with the SEC as quickly as
possible and thereby regain compliance with Nasdaq's listing
requirements, but it can provide no assurances that it will be able to
do so. For additional information regarding the pending restatement,
see the Company's Report on Form 8-K filed with the SEC on July 20,
2006.

    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 condition and relate
to matters such as 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 should not be regarded as representations
by the Company that its objectives or plans will be achieved. The
Company assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.

    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 29, 2006, in the Company's other filings
with the SEC, and in material incorporated therein by reference. In
addition, there are a number of risks associated with matters relating
to the Company's historical stock option practices and the previously
announced internal investigation, SEC inquiry, and related matters.
The Company cannot predict when the restatement will be completed and
there may be negative tax or other implications for the Company
resulting from the accounting adjustments. The Company cannot predict
the outcome of the SEC inquiry or any lawsuit or other proceeding
related to the Company's stock option practices. There can be no
assurance that the Company will maintain its Nasdaq listing. The
Company could also be subjected to other lawsuits and could become the
subject of other regulatory investigations in addition to those now
underway. Dealing with matters related to historical stock option
practices could divert management's attention from operations and
expenses arising from management's review, the investigation conducted
by a Special Committee of the Board of Directors, the restatement,
related litigation and other associated activities are expected to
continue to be significant. Current and former employees, officers and
directors have sought, and will likely continue to seek,
indemnification or advancement or reimbursement of expenses from the
Company, including attorneys' fees, with respect to current or future
proceedings related to stock option practices. These events could
adversely affect the Company's business and the price of its common
stock.

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