Semtech Corp - SMTC STOCK NEWS

Semtech Corporation (SMTC) has launched a new Software Development Kit (SDK) to enhance Keyboard, Video, and Mouse (KVM) switching applications through its BlueRiver platform for Software Defined Video over Ethernet (SDVoE™). This SDK, which is freely available for download, aims to accelerate product development within the SDVoE ecosystem, enabling advanced features for remote desktop and USB collaboration. According to company officials, the SDK provides source code and compiled examples for developing a BlueRiver-based KVM server, aimed at medical operating rooms and control rooms. The KVM SDK will be showcased at Integrated Systems Europe from January 31 to February 3, 2023.

Semtech Corporation (NASDAQ: SMTC) announced a collaboration with Panasonic Connect to integrate its BlueRiver chipsets into Panasonic display products, enabling Software Defined Video over Ethernet (SDVoE) support. This integration enhances applications in business, education, and esports. The partnership allows for direct Ethernet connections without external devices, improving simplicity and performance. Panasonic’s Advanced 4K LED displays, including the EQ2, SQE1, and SQE2 series, will feature this technology, driving innovation in the professional AV market.

Semtech Corporation (SMTC) has successfully completed its acquisition of Sierra Wireless (SWIR) for approximately US$1.2 billion. This strategic move nearly doubles Semtech’s annual revenue and adds around US$100 million in recurring IoT Cloud service revenues. The acquisition is expected to enhance Semtech’s market position in the Internet of Things (IoT) sector, with an anticipated expansion of its market opportunity to US$10 billion by 2027. The deal is projected to provide US$40 million in run-rate operational synergies within 12-18 months.

Skyworks Solutions and Semtech Corporation have launched the SKY66423-SX1261 reference design for low-power wide-area networks (LPWAN). This innovative solution integrates Semtech's LoRa Connect SX1261 transceiver with Skyworks' SKY66423 front-end module, targeting industrial IoT and smart city applications. It enhances transmit power and reduces noise for improved communication reliability. The design supports bi-directional communication and end-to-end security, catering to a range of applications from automation to connected homes.

GetWireless has announced a strategic partnership with Semtech Corporation (Nasdaq: SMTC) to enhance the adoption of LoRaWAN technology. This partnership aims to provide low-cost, easy-to-deploy network plans, boosting IoT connectivity. The initiative will equip enterprises and solution providers to extend their offerings beyond traditional cellular networks. GetWireless leverages its extensive industry experience and carrier relationships to facilitate this transition. Their presence at CES 2023 further emphasizes their commitment to advancing IoT solutions.

Semtech Corporation (NASDAQ: SMTC) and Sierra Wireless, Inc. (NASDAQ: SWIR) announced the termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act regarding Semtech's acquisition of Sierra. Following a request for additional information from the U.S. Department of Justice in October 2022, the companies were notified that the waiting period ended on January 5, 2023. The closing of the transaction is anticipated on or about January 12, 2023, pending satisfaction of closing conditions.

Semtech Corporation (NASDAQ: SMTC) announced a collaboration with Sindcon (Singapore) IoT Technology and IoT Kreasi Indonesia to deploy battery-powered smart water and electricity meters utilizing LoRaWAN technology. This initiative has reduced human error in manual readings by over 80%, leading to enhanced billing accuracy and tenant satisfaction at the LLOYD apartment complex in Indonesia. The smart meters achieve a 90% data success rate and battery life of up to seven years. Semtech's LoRa technology supports smart building applications and efficient resource usage.

Semtech Corporation (NASDAQ: SMTC) announced the launch of Nordic Propeye's new HVAC optimization solution in the U.S., integrating Semtech’s LoRa® devices and LoRaWAN® standard. This technology aims to reduce energy consumption in commercial buildings by achieving 15-30% energy savings. The U.S. Department of Energy notes that commercial buildings account for 35% of U.S. electricity use and 16% of CO2 emissions. The new solution autonomously manages HVAC systems using real-time data and AI, enhancing energy efficiency and predictive maintenance.

Semtech Corporation (Nasdaq: SMTC) reported third-quarter fiscal 2023 results with net sales of $177.6 million, reflecting a 15.1% sequential decline and 8.9% year-over-year drop. The company achieved a record GAAP gross margin of 65.1% and non-GAAP gross margin of 65.5%, with diluted earnings per share at $0.36 GAAP and $0.65 non-GAAP. Future outlook indicates expected net sales between $145.0 million and $155.0 million for Q4 FY2023, with GAAP diluted EPS forecasted at $0.20 to $0.27.