Semtech Corporation ( SMTC Quick Quote SMTC - Free Report) is consistently gaining momentum among customers on the back of its robust LoRa technological solutions.
This is evident from the fact that Semtech’s LoRa devices and LoRaWAN standard were recently selected by India-based water management company Cranberry Analytics.
Cranberry Analytics equipped its ultrasonic meters with SMTC’s LoRa devices and LoRaWAN standard for smart water metering.
Owing to Semtech’s LoRa solutions, Cranberry’s smart meters provide reliability to manual data capture and communication. This highlights strength of SMTC’s LoRa offerings.
Growth in Customer Base
Apart from the recent selection of LoRa devices, Semtech’s LoRa long-range modem is incorporated into REYAX’s new antenna transceiver module, the REYAX RYLR998, which makes it usable across a variety of IoT use cases, such as smart homes and asset tracking.
Additionally, Semtech partnered with ICT International, wherein the latter integrated Semtech’s LoRa devices and LoRaWAN standard into its water quality monitoring systems for aquaculture.
SMTC’s LoRa devices & LoRaWAN standard are also incorporated into Enthu Technology Solutions and Xorowin Mechatronics’ SIPOAL to provide constant real-time connectivity for industrial use cases.
Further, 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.
LoRa Portfolio Strength
Semtech’s growing customer relationships are attributed to its reliable and efficient LoRa portfolio of solutions. Also, SMTC keeps working toward expanding its offerings to equip customers with advanced technology-based solutions.
Semtech recently added multi-band features to the LoRa Edge device-to-Cloud geolocation platform LoRa Edge to focus on the challenges faced by the logistics industry.
This apart, SMTC introduced the LoRa Developer Portal to help developers quickly develop IoT devices connected with the LoRaWAN standard.
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.
The growing initiatives are helping SMTC expand its presence in 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 & Stocks to Consider
Currently, Semtech has a Zacks Rank #3 (Hold). Investors interested in the broader technology sector can consider some better-ranked stocks like
Avnet ( AVT Quick Quote AVT - Free Report) , Monolithic Power Systems ( MPWR Quick Quote MPWR - Free Report) and MaxLinear ( MXL Quick Quote MXL - Free Report) . While Avnet and Monolithic Power Systems sport a Zacks Rank #1 (Strong Buy), 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 3.2% in the past year. The long-term earnings growth rate for AVT is currently projected at 37.2%.
Monolithic Power Systems has gained 26.7% in the past year. The long-term earnings growth rate for MPWR is currently projected at 25%.
MaxLinear has rallied 6.5% in the past year. The long-term earnings growth rate for MXL is currently projected at 20%.