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Semtech's (SMTC) New LoRa Edge LR1120 Strengthens Portfolio

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Semtech Corporation (SMTC - Free Report) has introduced multi-band features to the LoRa Edge device-to-Cloud geolocation platform named LoRa Edge LR1120.

The latest version of LoRa Edge LR1120, enabling satellite-based networks, has the ability to shift the location processing workload from the device to the Cloud.

With LoRa Edge LR1120, Semtech aims to focus on the challenges related to supply chain management faced by the logistics industry.

Logistics companies can use LoRa Edge LR1120 for enhanced interoperability, versatile connectivity and seamless low power geolocation on a global scale.

By introducing new features to LoRa Edge LR1120, Semtech is expected to expand its reach to logistics companies. This, in turn, is likely to contribute to the top line in the days ahead.

Expanding LoRa Solutions

Apart from adding new capabilities to LoRa Edge LR1120, Semtech has introduced some advanced solutions in LoRa portfolio offerings.

The company recently released software updates for LoRa integrated circuits and gateways to increase network capacity and robust interference.

It also introduced the LoRa Developer Portal in order to help developers quickly develop IoT devices connected with the LoRaWAN standard.

In addition, it has expanded the LoRa Core portfolio by adding a new solution, LoRa CorecellReference 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, it 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.

Growing Customer Base

Due to the robustness of LoRa portfolio solutions, Semtech has signed contracts with a number of companies.

Recently, it announced that LoRa devices & the LoRaWAN standard are incorporated into Enthu Technology Solutions and Xorowin Mechatronics’ SIPOAL to provide constant real-time connectivity for industrial use cases.

Also, Semtech collaborated with Vutility for the integration of its LoRa solutions into the latter’s HotDrop solution to provide better energy monitoring of a facility.

In addition, the company’s LoRa devices and LoRaWAN standard have been 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.

We believe that these recent collaborations are likely to continue driving Semtech’s top line in the near term and long haul.

Zacks Rank & Other Stocks to Consider

Currently, Semtech carries a Zacks Rank #1 (Strong Buy).

Investors interested in the broader technology sector can also consider stocks like Apple (AAPL - Free Report) , Jack Henry & Associates (JKHY - Free Report) and Broadcom (AVGO - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Apple has gained 27% in the past year. The long-term earnings growth rate for AAPL is currently projected at 12.5%.

Jack Henry & Associates has gained 30.5% in the past year. JKHY’s long-term earnings growth rate is currently projected at 17%.

Broadcom has gained 22.6% in the past year. The long-term earnings growth rate for AVGO is currently projected at 14.5%.