Semtech Corporation ( SMTC Quick Quote SMTC - Free Report) is leaving no stone unturned to expand its portfolio of solutions on the back of product introductions. The company’s recent introduction of the SurgeSwitch product line is a testament to the above-mentioned fact. The latest devices come at a smaller package size of 80% and deliver 30% lower clamping. Moreover, it offers constant clamping over temperature. The SurgeSwitch devices are suitable for protecting circuits and systems that operate in harsh industrial, automotive and telecom temperature voltages. Expanding Portfolio of Solutions
Apart from the recent launch, Semtech has brought some advanced solutions in its LoRa portfolio offerings.
The company recently unveiled the LoRa Developer Portal in order to help developers quickly build IoT devices connected with the LoRaWAN standard. It added a product named LoRaCorecell 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. Beside LoRa devices, Semtech introduced an open and free software tool named BlueRiver AV manager in order to help software defined video over ethernet (SDVoE) equipment makers develop SDVoE-based solutions much faster. The company expanded its EClamp platform of protection devices with the addition of EClamp8052P. The product uses board space efficiently, and solves issues related to electromagnetic compatibility and electrostatic discharge. Semtech introduced a product, GN2256, in the Tri-Edge CDR portfolio to expand 5G wireless infrastructure bandwidth. The company introduced its PerSe line of sensors for improving mobile connectivity and compliance for personal connected consumer devices. Growing Customer Relationships
Given the strength in Semtech’s portfolio of solutions, the company has been continuously gaining momentum across various industry-based customers.
The company attracted most of the customers for its robust LoRa technology. Recently, Arson Metering selected LoRa devices and LoRaWAN standard to detect harmful methane levels in gas. Also, Elvexys and Oiken leveraged the LoRa technology for detecting power grid failure. Semtech partnered with SAS and Cary, NC. With the help of this collaboration, Cary aims to improve flood monitoring and provide services to its citizens by leveraging Semtech’s LoRaWAN connectivity and SAS’s data analytics. Apart from this, Semtech collaborated with ZeeVee to attract more audiences to the Tennessee State Museum as well as develop a premium gaming environment at the Westgate Resort & Casino in Las Vegas with the help of the BlueRiver technology, and ZyPer4K encoders and decoders. Further, Semtech’s AVX extender application-specific integrated circuit was selected by WyreStorm for its EX-100-H2-EARC product line. We believe that SMTC’s expanding customer base is playing a major role in contributing well to revenue growth. Zacks Rank & Stocks to Consider
Currently, Semtech carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider better-ranked stocks like Advanced Micro devices ( AMD Quick Quote AMD - Free Report) , Mimecast Limited and Nova Measuring Instruments ( NVMI Quick Quote NVMI - Free Report) . While Nova currently sports a Zacks Rank #1 (Strong Buy), Advanced Micro and Mimecast carry a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here Advanced Micro has gained 59.4% on a year-to-date basis. The long-term earnings growth rate for the AMD stock is currently projected at 46.2%. Mimecast has gained 39.8% on a year-to-date basis. The long-term earnings growth rate for the MIME stock is currently projected at 35%. Nova has gained 94.1% on a year-to-date basis. The long-term earnings growth rate for the NVMI stock is currently projected at 32.2%.