Semtech (SMTC) Expands Customer Base With Hi-Tech LoRa Modem

Semtech Corporation SMTC announced that its LoRa long range modem has been incorporated into REYAX’s new antenna transceiver module, the REYAX RYLR998.

With the help of LoRa technology, the transceiver module consumes less power and features a transmission distance of up to 20 kilometers. Moreover, it can be used for a variety of IoT use cases, such as smart homes and asset tracking.

The selection of LoRa modem by REYAX highlights the reliability and efficiency of the device.

The recent move added strength to Semtech’s client base, which is expected to contribute well to its top-line growth in the near term.

Semtech Corporation Price and Consensus

Semtech Corporation price-consensus-chart | Semtech Corporation Quote

Growing Clientele

Semtech has been signing contracts with a number of companies for a while owing to the cost-effective LoRa technology, which is suitable for various applications. The latest move is a step forward in this direction.

In addition to the recent collaboration, SMTC’s LoRa devices & LoRaWAN standard are incorporated into Enthu Technology Solutions and Xorowin Mechatronics’ SIPOAL to provide constant real-time connectivity for industrial use cases.

Further, SMTC partnered with Vutility to integrate its LoRa solutions into the latter’s HotDrop solution to provide better energy monitoring of a facility.

Semtech’s LoRa devices and LoRaWAN standard are integrated into Smart Paddock’s Bluebell smart GPS ear tag for monitoring livestock location in real time and analyzing cattle’s behavioral data to solve livestock management issues.

SMTC’s solutions are also leveraged by ICT International to make an improvement in urban forest management and carbon accounting.

LoRa Portfolio: A Tech-Age Boon

Semtech’s growing customer partnerships are a result of its strong efforts toward strengthening LoRa technological offerings. Also, SMTC keeps bringing innovative solutions to better serve its customers.

SMTC recently introduced the LoRa Developer Portal to help developers quickly develop IoT devices connected with the LoRaWAN standard.

This apart, 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 simultaneously receive and transmit data.

Further, SMTC unveiled the LoRa Core portfolio comprising a new chipset, which offers LoRaWAN connectivity to various vertical industries, including asset tracking, building, home, agriculture, metering and factory automation.

These initiatives are aiding SMTC to penetrate the growing LoRa and LoRaWAN devices market, which is expected to hit $6.2 billion by 2026, witnessing a CAGR of 36.5% between 2021 and 2026, per an Industry ARC report.

Zacks Rank & Other Stocks to Consider

Currently, Semtech sports a Zacks Rank #1 (Strong Buy). Investors interested in the broader technology sector can also consider some other top-ranked stocks like Avnet AVT, Monolithic Power Systems MPWR and MaxLinear MXL. While Avnet and Monolithic Power Systems sport a Zacks Rank of 1, MaxLinear carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Avnet has gained 7% in the past year. The long-term earnings growth rate for AVT is currently projected at 37.2%.

Monolithic Power Systems has gained 26.8% in the past year. The long-term earnings growth rate for MPWR is currently projected at 25%.

MaxLinear has rallied 22.4% in the past year. The long-term earnings growth rate for MXL is currently projected at 20%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.