Semtech Corporation
SMTC
is leaving no stone unturned to bolster presence in the booming Internet of Things (IoT) market on the back of strategic partnerships and robust LoRa technology.
This is evident from its latest collaboration with SAS. Semtech’s LoRaWAN connectivity will be integrated into SAS’ IoT analytics to provide Edge-to-Cloud IoT solutions in order to address specific problems including flood prevention, livestock wellness, precision agriculture and energy forecasting.
Notably, SAS’ IoT solutions backed by
Microsoft
’s
MSFT
Azure helps in delivering real-time insights into IoT data and analytics across various cases.
In addition, Semtech’s LoRa Technology enables long-range connectivity of IoT devices and connects sensors to the cloud. Its long-range performance and lower power consumption help in real-time communication of data and analytics to boost efficiency as well as productivity.
Semtech Corporation Price and Consensus
Semtech Corporation price-consensus-chart
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Semtech Corporation Quote
IoT Market Prospects
The IoT market has been rapidly growing in recent times as it has created a fundamental change in the operational strategies of a business.
Increased adoption of the cloud platform, advanced data analytics and cost-effective wireless networking technologies are key factors contributing to the IoT market expansion.
According to the Fortune Business Insights report, the global IoT market is expected to reach $1.5 trillion by 2027, witnessing a CAGR of 24.9% between 2020 and 2027.
In addition, the Mordor Intelligence report states that this market is anticipated to hit $1.4 trillion by 2026 by registering a CAGR of 10.53% during the forecast period 2021-2026.
Notably, the latest collaboration is likely to boost the adoption rate of Semtech’s LoRa technology in the promising IoT market.
Moreover, it acts as a key player in the production and deployment of Low Power Wide Area Networks for IoT devices, thus enhancing customer momentum of the IoT market.
Hence, the company remains well poised to capitalize on the abovementioned prospects.
Strategic Partnerships: Key Catalyst
Semtech is entering into strong alliances and contracts due to the cost-effective feature of the LoRa technology in creating as well as deploying IoT solutions.
Apart from the recent collaboration, Semtech has partnered with InVue to integrate LoRaWAN into InVue LIVE products for providing compatibility to the latter’s retail operations.
In addition, the company teamed with EchoStar Corporation to launch new satellite-based connectivity services in the IoT market with the help of the LoRaWAN protocol.
Moreover, Semtech’s LoRa devices and LoRaWAN protocol have been incorporated by Vision Metering in its smart electric meters and meter interface units for water and gas meters across the United States as well as Latin America.
Additionally, DevApp Tech Solutions has integrated the company’s LoRa devices and LoRaWAN protocol into its smart asset tracking solutions to identify luggage trolleys at Hyderabad International Airport.
Also, DTDS Technology’s new 622 Module is compliant with Semtech’s LoRaWAN technology to provide enhanced network coverage, and strength in automotive and industrial IoT applications.
Further, WITRAC has incorporated the company’s LoRaWAN protocol and LoRa 2.4GHz in its global track and trace platform to help customers gain full control and traceability of assets in the supply chain.
We believe increasing strategic partnerships will continue to drive the company’s momentum for the LoRa technology, which in turn will drive top-line growth.
Zacks Rank & Stocks to Consider
Currently, Semtech carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector include
MACOM Technology Solutions Holdings, Inc.
MTSI
and
Microchip Technology Incorporated
MCHP
. MACOM and Microchip carry a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks#1 Rank (Strong Buy) stocks here
.
Long-term earnings growth rates for MACOM Technology and Microchip Technology is currently projected at 37% and 15.3%, respectively.
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