Welcome to our dedicated page for Semtech news (Ticker: SMTC), a resource for investors and traders seeking the latest updates and insights on Semtech stock.
Semtech Corp. develops high-performance semiconductor, Internet of Things connectivity, and cloud connectivity service technologies for data center networking, cellular infrastructure, industrial equipment, and connected-device applications. Company news commonly covers product launches across signal integrity, analog mixed-signal, wireless, and IoT systems, including high-speed optical interconnect ICs, LoRa technology, 5G RedCap modems, SurgeSwitch circuit protection devices, AirLink routers, Smart Connectivity services, and AirVantage platform capabilities.
Recurring updates also include financial results, investor conference participation, partner integrations, technology demonstrations, and deployments tied to AI data centers, industrial IoT, passive optical networks, video surveillance, and license-free IoT networks.
Semtech Corporation (Nasdaq: SMTC) has announced the launch of the new XCVR Development Board and Reference Design, integrating the LoRa® Sub-GHz Radio Transceiver. This product aims to simplify design processes and reduce time-to-market for applications in building management, agriculture, logistics, and industrial control. The XCVR Development Board utilizes Semtech’s SX126x Series and provides comprehensive layout and schematic files. Software drivers are compatible with various microcontrollers, facilitating rapid development.
Key objectives highlighted in the press release include enhancing product design and functionality while leveraging the expertise of Connected Development. The XCVR is available exclusively through Mouser Electronics and Symmetry Electronics.
Semtech Corporation (Nasdaq: SMTC) announced the appointment of Gregory M. Fischer and Paul V. Walsh, Jr. to its Board of Directors, enhancing its leadership team. Fischer, with over 30 years in technology, previously held roles at Broadcom and Conexant, while Walsh brings significant financial expertise from Allegro MicroSystems. Both new appointees will serve on the nominating and governance committee, with Walsh additionally appointed to the audit committee. These appointments align with the recently announced Cooperation Agreement with Lion Point Capital, a major stockholder. Semtech’s board now includes 12 directors, and the new directors will stand for election at the 2023 Annual Meeting of Stockholders in June. The company aims to leverage their extensive experience to drive growth and long-term shareholder value amid a diverse product portfolio and the recent acquisition of Sierra Wireless.
Semtech Corporation (Nasdaq: SMTC) has launched the PerSe Connect SX9376 chipset, significantly enhancing 5G connectivity for personal connected devices. The new chipset allows smartphones to optimize RF performance while ensuring compliance with global specific absorption rate (SAR) standards. With a capacity for up to eight sensor inputs, the SX9376 provides robust support for multiple RF antennas, which is crucial for the expanding 5G market projected to reach USD 198.44 Billion by 2030 at a 47.6% CAGR. Semtech has been a leader in smart sensing technology for over a decade, enabling OEMs to deliver enhanced consumer experiences through advanced RF control.
Semtech Corporation (Nasdaq: SMTC) reported its financial results for Q4 and FY2023, ending January 29, 2023. Highlights include:
- Acquired Sierra Wireless for $1.3 billion.
- Q4 net sales were $167.5 million; Semtech Organic sales at $152.5 million.
- GAAP gross margin was 59.7%; non-GAAP gross margin was 62.3%.
- FY2023 net sales reached $756.5 million with a record 40% growth in LoRa-enabled revenue.
- Outlook for Q1 FY2024 includes net sales between $230-$240 million and GAAP gross margins of 42.5%-44.7%.
Semtech Corporation (NASDAQ: SMTC) has announced a significant milestone in the Amazon Sidewalk initiative, leveraging its LoRa technology for extended IoT applications. Key features include broad nationwide coverage and partnerships with several companies to develop Sidewalk-enabled devices. Notable products include Browan's sensors and Deviceroy's smart modems. The LoRa technology is recognized for its ultra-low power requirements and long-range communication, making it ideal for sustaining IoT connectivity. The firm is also offering development kits to expedite the creation of new Amazon Sidewalk devices, further enhancing its market position and the potential for future growth.
Semtech Corporation (NASDAQ: SMTC) has announced a Cooperation Agreement with Lion Point Capital, one of its largest shareholders, owning approximately 4% of its shares. This agreement will facilitate the appointment of two independent directors to Semtech's Board of Directors within 30 days. The Board will expand from 10 to 12 members, with the newly appointed directors becoming part of the election process at the upcoming 2023 Annual Meeting. Semtech's Chairman expressed optimism about the new directors boosting the company’s growth potential, while Lion Point aims to add value for all stockholders.
Semtech Corporation (Nasdaq: SMTC) announces that CEO Mohan Maheswaran will retire after 17 years, continuing in a consulting role for 18 months during the transition. Under Maheswaran's leadership, Semtech's revenue grew from $200 million to over $1 billion, achieving record margins and earnings. The company completed several acquisitions, notably Sierra Wireless. The board chair praised Maheswaran's transformative leadership amid challenges like geopolitical tensions and COVID-19. The company is now seeking a new CEO while preparing for future growth.
Semtech Corporation (Nasdaq: SMTC) has announced the promotion of Asaf Silberstein to the newly established role of Chief Operating Officer (COO). With over 20 years in the semiconductor industry, Silberstein was previously the Executive Vice President of Worldwide Operations and IT. His promotion follows Semtech's acquisition of Sierra Wireless, which doubled the company's size, indicating a need for enhanced operational focus. CEO Mohan Maheswaran expressed confidence in Silberstein's abilities to lead the company’s business groups, sales, and operations, signaling a strategic move towards innovation and growth.
Semtech Corporation (NASDAQ: SMTC) has partnered with Everynet and ChirpStack to enhance its developer program by offering free access to the Everynet National LoRaWAN® network. This collaboration allows developers to test and deploy IoT solutions without the need for their own gateways. The Semtech Network Server, powered by ChirpStack, provides a unified platform for developers to learn, build, and experiment with LoRaWAN technology. This initiative aims to lower barriers for developers, promoting broader adoption of IoT solutions in various industries.
Semtech Corporation (NASDAQ: SMTC) has expanded its LoRa® portfolio with the launch of the LoRa Connect™ LR1121 transceiver, which offers lower power consumption and global connectivity for IoT endpoints. This innovation is poised to enhance market presence in sectors like smart cities and agriculture. The LR1121 is designed for long-range communication and is compatible with existing LoRa Edge™ devices. Collaborations with Murata and Johanson Technology will facilitate faster product development with reduced costs. Semtech continues to invest in improving LoRa technology and aims to solidify its position as a leader in IoT connectivity solutions.