Semtech Corporation ( SMTC Quick Quote SMTC - Free Report) has joined forces with DIC to integrate its LoRaWAN standard with the latter’s HatteTotte sensors.
Notably, the integration permits long-distance communication and less power consumption.
These capabilities help the sensors measure temperature, humidity and light inside malls, workspaces, homes, apartments, and others.
The recent collaboration shows the efficiency and reliability of Semtech’s LoRaWAN solutions.
Further, it has added strength to Semtech’s customer base, which is likely to contribute to revenues of the Wireless and Sensing segment in the near term.
Notably, this particular segment has become an integral part of Semtech’s overall business. It generated 34% of total revenues for fiscal first-quarter 2022. Also, revenues from this segment grew 78% year over year.
Hence, the latest deal is expected to contribute well to the company’s top-line growth in the days ahead.
Semtech’s Partnerships for LoRa Technology
Semtech has tied up with several companies in recent times due to the cost-effective LoRa technology. The recent integration is a step forward in that direction.
Recently, Semtech announced that its LoRa devices will be incorporated into LDT’s smart fire prevention system to help it in detecting flames and smoke as well as measuring fire levels seamlessly.
Last month, the company announced that the LoRa Edge asset management platform will be used by SkyLab to make a small form-factor prototyping board for both indoor and outdoor asset management applications.
In addition, it collaborated with SAS in mid-May. SAS has integrated the company’s LoRaWAN connectivity into IoT analytics, delivering Edge-to-Cloud IoT solutions.
Moreover, Semtech’s partnership with InVue for incorporating LoRaWAN into InVue LIVE products to provide compatibility to the latter’s retail operations remains noteworthy.
Further, Semtech’s collaboration with Vision Metering to integrate its LoRa devices and LoRaWAN protocol into the latter’s smart electric meters, and meter interface units for water and gas meters across the United States as well as Latin America remains noteworthy.
LoRa Portfolio Strength
Semtech is making strong efforts to strengthen the product portfolio of robust LoRa solutions.
In late April, Semtech added a new product, LoRaCore cell Reference Design, to its LoRa Core portfolio for full duplex gateway applications in the U.S. 902 – 928MHz ISM band. The new solution enables LoRaWAN gateways to simultaneously receive and transmit data.
Moreover, early this year, the company introduced the LoRa Core portfolio consisting of a new chipset. This portfolio offers LoRaWAN network coverage to various vertical industries including asset tracking, building, home, agriculture, metering and factory automation.
We note that the latest move poises Semtech well to expand presence in the booming LoRa and LoRaWAN devices market, which, per a
report by IndustryARC, is likely to hit $6.2 billion by 2026, witnessing a CAGR of 36.5% between 2021 and 2026. Zacks Rank & Other Stocks to Consider
Currently, Semtech carries a Zacks Rank #2 (Buy).
Other-ranked stocks in the broader technology sector include
Applied Materials ( AMAT Quick Quote AMAT - Free Report) , Analog Devices ( ADI Quick Quote ADI - Free Report) and Maxim Integrated Products eachcarrying a Zacks Rank #2. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Long-term earnings growth rates for Applied Materials, Analog Devices and Maxim are currently projected at 17.97%, 12.25% and 10%, respectively.
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