• Semtech average quick ratio for 2023 was 1.47, a 61.01% increase from 2022.
• Semtech average quick ratio for 2022 was 3.77, a 9.59% decline from 2021.
• Semtech average quick ratio for 2021 was 3.44, a 8.02% increase from 2020.

Quick ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated by subtracting inventory from current assets and dividing by current liabilities.