Semtech Corp - SMTC STOCK NEWS

Semtech Corporation (NASDAQ: SMTC) has launched its new HotSwitch^® platform, designed to enhance the protection of electronic systems against electrical surges and faults. This platform features integrated load switches and eFuses with advanced protection capabilities. Two products, HS2950P and HS2240P, are now available for purchase, focusing on improving device longevity and reducing electronic waste. The HotSwitch platform aims to support greater sustainability in electronics while ensuring robust defense against voltage and current anomalies.

Semtech Corporation (Nasdaq: SMTC) and Sierra Wireless, Inc. (Nasdaq: SWIR) have received a second request for information from the U.S. Department of Justice regarding Semtech's acquisition of Sierra Wireless. This request extends the review period under the Hart-Scott-Rodino Act until 30 days after both companies comply with the request. Semtech has also obtained a no-action letter from the Canadian Competition Bureau, with an agreement to close the transaction by March 3, 2023, unless extended.

Semtech Corporation (NASDAQ: SMTC) has priced a private offering of $300 million in 1.625% convertible senior notes due 2027. The offering, increased from a previous $250 million, is expected to yield around $290 million in net proceeds. Approximately $27.8 million of these funds will cover certain convertible note hedge costs. The remaining proceeds will finance the acquisition of Sierra Wireless and related expenses. The notes will bear interest payable semiannually and may be converted into shares of Semtech common stock. The closing is anticipated around October 12, 2022.

Semtech Corporation (NASDAQ: SMTC) announced a new dual combo module developed by CWD Limited that supports global LoRaWAN network coverage. This module is designed for asset tracking applications in hazardous work environments, integrating LoRa Connect technology and Bluetooth Low Energy (BLE) for enhanced communication capabilities.

The module aims to improve power efficiency and reduce costs by eliminating the need for external components, and is already deployed in various sectors including oil rigs and hospitals.

Semtech Corporation (SMTC) announced plans to offer $250 million in convertible senior notes due 2027 in a private placement. There is an option for an additional $37.5 million of notes. Proceeds will fund certain hedging transactions and finance the acquisition of Sierra Wireless, Inc. The offering is contingent on market conditions and may be redeemed if the acquisition does not close by March 3, 2023. The notes will be senior, unsecured obligations and will accrue interest semiannually. The company aims to mitigate dilution from conversions through hedge transactions.

Semtech Corporation (SMTC) has confirmed that Sierra Wireless, Inc. (SWIR) securityholders approved the acquisition of all outstanding shares of Sierra Wireless by Semtech through its wholly-owned subsidiary. The acquisition, structured as a statutory plan of arrangement, is pending necessary antitrust and competition approvals in the U.S. and Canada, and approval from the Supreme Court of British Columbia. A court hearing is set for September 29, 2022, with the acquisition expected to complete within Semtech's fiscal year 2023.

Semtech Corporation (SMTC) announced a collaboration with Kiwi Technology to deploy the Network Control Unit (NCU) utilizing LoRaWAN technology. This smart solution will connect and monitor gas meters, enhancing efficiency by enabling multiple daily readings instead of a monthly manual process. The NCU's features include real-time gas consumption insights and leak detection capabilities, contributing to operational safety and sustainability goals. The project aids a top-tier Japanese gas utility in optimizing gas distribution and reducing CO2 emissions.

Semtech Corporation (SMTC) has unveiled a pioneering demonstration of its 200G PAM4 per lane technology at ECOC 2022 in Basel, Switzerland. This innovation enables 1.6T and 3.2T optical module deployments, showcasing a 200Gbps PAM4 signal over a 2 km single mode optical fiber link. The FiberEdge PMD chipsets, featuring advanced bandwidth, noise performance, and low distortion, are expected to significantly reduce networking costs. Semtech's advancements position it as a leader in high-speed data center solutions, marking a crucial milestone in optical technology.

Semtech Corporation (SMTC) has announced the sampling availability of its new ClearEdge® CDR Transmitter solution, the GN2105S. This quad-channel device supports 25G NRZ data center and long-reach optical links with enhanced transmitter performance. Featuring integrated DML drivers and proprietary laser compensation, it allows for the use of low-cost lasers. The GN2105S aims to optimize power consumption while boosting data integrity. It can be paired with the GN2110S receiver for a full 100G solution. The product will be showcased at the ECOC 2022 in Basel, Switzerland from Sept 18-22.