Semtech (SMTC) Strengthens Clientele With LoRa Selection
Semtech Corporation SMTC is forming partnerships on the back of robust LoRa solutions.
This is evident from the fact that SMTC recently announced that Sindcon (Singapore) IoT Technology and IoT Kreasi Indonesia used its LoRa devices and LoRaWAN standard.
Leveraging Semtech’s LoRa solutions, Sindcon and IoT Kreasi developed battery-powered water and electricity meters.
LoRa solutions offers reliability and constant connectivity. Notably, the robustness of LoRaWAN helped Sindcon achieve more than 90% data success rate.
The selection of the LoRa technology by Sindcon and IoT Kreasi added strength to Semtech’s customer base.
Semtech Corporation Price and Consensus
Semtech Corporation price-consensus-chart | Semtech Corporation Quote
Growth in Customer Base
Apart from the recent selection, Nordic Propeye incorporated Semtech’s LoRa devices into its U.S. launched HVAC optimization solution to bring down energy consumption.
Semtech’s LoRa long-range modem is incorporated into REYAX’s new antenna transceiver module, the REYAX RYLR998, which makes it usable across various IoT use cases, such as smart homes and asset tracking.
Additionally, Semtech partnered with ICT International, whereby the latter integrated Semtech’s LoRa devices and LoRaWAN standard into its water-quality monitoring systems for aquaculture.
SMTC’s LoRa devices and LoRaWAN standard are also incorporated into Enthu Technology Solutions and Xorowin Mechatronics’ SIPOAL to provide constant real-time connectivity for industrial use cases.
The consistent increase in customers is expected to continue contributing well to Semtech’s top-line growth.
LoRa Portfolio Strength
Semtech’s growing customer relationships are attributed to its reliable and efficient LoRa portfolio of solutions. Also, SMTC keeps working toward expanding its offerings to equip customers with advanced technology-based solutions.
Semtech recently added multi-band features to the LoRa Edge device-to-Cloud geolocation platform LoRa Edge to focus on the challenges faced by the logistics industry.
SMTC introduced the LoRa Developer Portal to help developers quickly develop IoT devices connected with the LoRaWAN standard.
Semtech expanded the LoRa Core portfolio by adding a solution LoRa Corecell Reference Design for full-duplex gateway applications in the U.S. 902-928MHz ISM band. The new product enables LoRaWAN gateways to receive and transmit data simultaneously.
The growing initiatives are helping SMTC strengthen its footprint in the growing LoRa and LoRaWAN devices market.
Evidently, this will help SMTC win investors’ confidence in the near term and the long haul.
Shares of SMTC have been down 63.1% in the past year compared with the Computer and Technology sector’s decline of 34%.
Zacks Rank & Stocks to Consider
Currently, Semtech carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and Asure Software ASUR. While Arista Networks and Asure Software sport a Zacks Rank #1 (Strong Buy) at present, Agilent carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has lost 14.5% in the past year. The long-term earnings growth rate for ANET is projected at 17.5%.
Agilent has gained 1.7% in the past year. A’s long-term earnings growth rate is projected at 10%.
Asure Software has returned 35.8% in the past year. The long-term earnings growth rate for ASUR is projected at 23%.
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