Semtech Corporation (SMTC Quick QuoteSMTC - Free Report) expanded its partnership with New Zealand-based IoT Ventures and global connectivity provider Lacuna Space.

Lacuna Space already leverages SMTC’s LoRa devices to build its drought early warning system. The system is used for analyzing water consumption and rain forecasts in remote New Zealand and South Pacific Island communities.

Lacuna System is gearing up to utilize Semtech’s Long Range-Frequency Hopping Spread Spectrum (LR-FHSS) satellite connectivity to the underlined system. This will provide access to clean drinking water for citizens living in remote Pacific-island countries.

Thus, the selection of Semtech’s LoRa devices and LR-FHSS satellite connectivity highlights the robustness of these devices.

Semtech Corporation Price and Consensus

Semtech Corporation price-consensus-chart | Semtech Corporation Quote

Growth in Customer Base

Apart from this recent selection, Semtech’s LoRa long-range modem is incorporated into REYAX’s new antenna transceiver module, the REYAX RYLR998, which makes it usable across various 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.

Semtech’s LoRa devices and LoRaWAN standard are also 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 Zacks Computer & Technology sector can consider some better-ranked stocks like Arista Networks (ANET Quick QuoteANET - Free Report) ,Keysight Technologies (KEYS Quick QuoteKEYS - Free Report) and ASE Technology (ASX Quick QuoteASX - Free Report) . While Arista Networks sports a Zacks Rank #1 (Strong Buy), Keysight Technologies and ASE Technology carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Arista Networks has lost 9.6% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.9%.

Keysight Technologies has lost 17.4% in the year-to-date period. KEYS’ long-term earnings growth rate is currently projected at 9.1%.

ASE technology has lost 19.2% in the year-to-date period. The long-term earnings growth rate for ASX is currently projected at 23.1%.