UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                    FORM 8-K


                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


     Date of report (Date of earliest event reported)        May 30, 2006
                                                     ---------------------------

                               Semtech Corporation
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             (Exact Name of Registrant as Specified in Its Charter)

                                    Delaware
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                 (State or Other Jurisdiction of Incorporation)

          1-6395                                          95-2119684
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  (Commission File Number)                   (IRS Employer Identification No.)

            200 Flynn Road
         Camarillo, California                                  93012-8790
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(Address of Principal Executive Offices)                        (Zip Code)

                                  805-498-2111
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              (Registrant's Telephone Number, Including Area Code)


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          (Former Name or Former Address, if Changed Since Last Report)

     Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

|_|  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))




Item 8.01. Other Events
           ------------

           On May 30, 2006, the Registrant issued a press release regarding its
           stock repurchase program. A copy of the press release is attached
           hereto as Exhibit 99.1.

Item 9.01  Financial Statements and Exhibits.
           ---------------------------------

           (c)  Exhibits
                --------

                Exhibit 99.1   Press Release of the Registrant dated May 30,
                               2006.




                                    SIGNATURE
                                    ---------

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date: May 30, 2006                                   SEMTECH CORPORATION


                                                     By: /s/ David G. Franz, Jr.
                                                         -----------------------
                                                         David G. Franz, Jr.
                                                         Chief Financial Officer




INDEX TO EXHIBITS


Exhibit Number             Description of Document
--------------             -----------------------

99.1                       Press Release of the Registrant dated May 30, 2006