Semtech Corporation SMTC recently announced that New H3C Group (H3C) has unveiled new smart door lock applications based on Semtech’s LoRa devices and its related technology.
H3C is a leading China-based provider of digital infrastructure and Internet of Things (IoT) products.
These smart door locks are expected to help management staffs efficiently monitor security and safely in large campuses like hotels, dormitories, schools, colleges, universities, among others.
H3C’s new door lock solutions will give access to real-time data that will enable accurate monitoring of students entering and exiting from the buildings, and thereby lead to enhanced campus safety.
The LoRa Technology enables long-range connectivity of IoT devices and aids in connecting sensors to the cloud. Its long-range performance and low power consumption requirement enhance overall performance. Owing to reliable and accurate data monitoring, this technology helps in developing applications that are very useful in varies industries, including healthcare.
IoT Market Prospects
IoT devices have been gaining significant traction in recent times. These devices have been successful in making an impact across all end markets served by the company.
Per IOT Analytics, the number of active IoT devices is expected to grow from 7 billion in 2018 to 10 billion and 22 billion by 2020 and 2025, respectively, including devices on the consumer and enterprise side.
Presently, LoRaWAN networks are operating in many countries. It expects the LoRaWAN open protocol to reach more countries in the near term. Industry experts expect four out of every 10 long-range IoT connections to be powered by LPWAN, with LoRaWAN being the dominant player.
We believe Semtech is well poised to rapidly penetrate the expanding IoT market, aided by the highly popular LoRa technology.
Zacks Rank & Stocks to Consider
Currently, Semtech carries a Zacks Rank #2 (Buy). Some better-ranked stocks in the broader technology sector include, Microchip Technology Incorporated MCHP, eBay EBAY and Wayfair Inc. W. While Microchip Technology and eBay sport a Zacks Rank #1 (Strong Buy), Wayfair carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth for Microchip Technology, eBay, and Wayfair is currently projected at 14.5%, 11.7% and 23%, respectively.
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