Semtech Corp - SMTC STOCK NEWS

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.