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Delayed Nasdaq  -  04:00 2022-12-02 pm EST
29.36 USD   -1.54%
12/01Piper Sandler Adjusts Semtech's Price Target to $45 From $60, Keeps Overweight Rating
11/30Semtech Q3 Non-GAAP EPS, Sales Fall
11/30Transcript : Semtech Corporation, Q3 2023 Earnings Call, Nov 30, 2022
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Semtech's LoRa Devices Featured in Kiwi Technology Gas Metering Solution

09/28/2022 | 09:42am EST

CAMARILLO - Semtech Corporation (Nasdaq: SMTC), a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms, announced that Kiwi Technology, an advanced Internet of Things (IoT) turn-key solutions and data analytics provider, is using Semtech's LoRa devices for its new third party class B Network Control Unit (NCU) that connects gas meters via the LoRaWAN standard.

Due to low power consumption and bidirectional communication capabilities of LoRa, the NCUs are fully autonomous for up to 10 years.

The recently deployed NCUs remotely read indoor and outdoor gas meters and communicate data to a top tier Japanese gas utility company. Prior to the deployment and infrastructure upgrade by Kiwi Technology, this utility provider had only one measurement data point each month, obtained from a manual field process. The new NCU system and Kiwi Technology's comprehensive gateway products utilizing LoRaWAN enable multiple, remote meter reads per day and allows customers access to their real-time and historical gas consumption trends to identify cost savings and waste reduction opportunities.

Kiwi Technology's end-to-end smart gas solutions with wireless communication with LoRaWAN connectivity also ensure gas supply and infrastructure safety. The solution helps to quickly detect and send alerts about potential methane leaks, equipment malfunctions or breakdowns. The NCU anticipates and remotely shuts off gas in potentially dangerous situations before a failure or automatically when a hazard, such as a typhoon or earthquake, occurs.

'Choosing Semtech's LoRa devices for building our IoT-enabled solution allowed us to create an innovative and advanced gas meter reading and monitoring system and deploy it using a carrier-grade network infrastructure,' said Judy Lee, chairperson of Kiwi Technology. 'With the digitization of utilities and municipalities, we are helping utility companies optimize their gas distribution while reducing harmful CO2 gas emissions exactly at the location where gas is consumed. This contributes to a more efficient and safer use of energy resources.'

'Utility providers that have deployed smart metering solutions are seeing a rapid reduction of waste and substantial improvements in operational efficiencies,' said Marc Pegulu, vice president and general manager for Semtech's Wireless and Sensing Products Group. 'The use of LoRa and LoRaWAN, as shown with Kiwi Technology's NCU solution, showcases the power of IoT technologies to help gas utilities improve safety and achieve ESG goals while creating a smarter and safer planet for all.'

About Semtech's LoRa Platform

Semtech's LoRa chip-to-Cloud platform is a globally adopted long range, low power solution for IoT applications, enabling the rapid development and deployment of ultra-low power, cost efficient and long range IoT networks, gateways, sensors, module products, and IoT services worldwide. Semtech's LoRa technology provides the communication layer for the LoRaWAN standard, which is maintained by the LoRa Alliance, an open IoT alliance for Low Power Wide Area Network (LPWAN) applications that has been used to deploy IoT networks in over 170 countries. With the proliferation of LoRa devices and the LoRaWAN standard, the LoRa Developer Portal is a place to learn, connect, collaborate, and find resources to help accelerate your LoRa development process. Semtech is a founding member of the LoRa Alliance.

About Kiwi Technology

Kiwi technology is the pioneer of the connected operations powered by cloud, which allows businesses that depend on physical operations to harness IoT data to develop actionable business insights and improve their operations. Our 360-degree connected operations cloud consolidates data from our IoT devices and a growing ecosystem of connected assets and third-party systems, and makes it easy for organizations to access, analyze and act on data insights, using our cloud dashboard, custom alerts and reports, mobile apps and workflows. Kiwi technology operates in Taiwan, Japan and ASEAN and serves customers across a wide range of industries including food retail, medical logistics, gas utilities, smart city. Our differentiated, purpose-built suite of solutions enables organizations to embrace and deploy a digital, cloud-connected strategy across their operations.

About Semtech

Semtech Corporation is a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the NASDAQ Global Select Market under the symbol SMTC.

Forward-Looking and Cautionary Statements

All statements contained herein that are not statements of historical fact, including statements that use the words 'designed to' or other similar words or expressions, that describe Semtech Corporation's or its management's future plans, objectives or goals are 'forward-looking statements' and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Semtech Corporation to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the uncertainty surrounding the impact and duration of supply chain constraints and any associated disruptions; the uncertainty surrounding the impact and duration of the COVID-19 pandemic; export restrictions and laws affecting Semtech Corporation's trade and investments including with respect to Huawei and certain of its affiliates and other entities identified by the U.S. government, and tariffs or the occurrence of trade wars; worldwide economic and political disruptions as a result of the current conflict between Russia and Ukraine; competitive changes in the marketplace including, but not limited to, the pace of growth or adoption rates of applicable products or technologies; downturns in the business cycle and the additional risk factors set forth in Semtech Corporation's Annual Report on Form 10-K filed with the Securities and Exchange Commission (www.sec.gov) on March 16, 2022 as such risk factors may be updated, amended or superseded from time to time by subsequent reports that Semtech Corporation files with the Securities and Exchange Commission. Semtech Corporation assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.


Ronda Grech

Tel: (805) 250-1263

Email: rgrech@semtech.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
KIWI TECHNOLOGY INC. -2.78% 26.2 End-of-day quote.-22.26%
SEMTECH CORPORATION -1.54% 29.36 Delayed Quote.-66.47%
12/01Piper Sandler Adjusts Semtech's Price Target to $45 From $60, Keeps Overweight Rating
11/30Semtech Q3 Non-GAAP EPS, Sales Fall
11/30Transcript : Semtech Corporation, Q3 2023 Earnings Call, Nov 30, 2022
11/30Semtech : Fiscal Q3 Earnings Snapshot
11/30SEMTECH CORP Management's Discussion and Analysis of Financial Condition and Results o..
11/30Semtech Corporation Reports Earnings Results for the Third Quarter and Nine Months Ende..
11/30Semtech Corp : Results of Operations and Financial Condition, Regulation FD Disclosure, Fi..
11/30Semtech Guides For Q4 EPS of $0.44-$0.52 on Sales of $145-$155 Million, vs CIQ Analyst ..
11/30Earnings Flash (SMTC) SEMTECH CORPORATION Posts Q3 Revenue $177.6M
11/30Earnings Flash (SMTC) SEMTECH CORPORATION Reports Q3 EPS $0.65
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Analyst Recommendations on SEMTECH CORPORATION
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Financials (USD)
Sales 2023 741 M - -
Net income 2023 125 M - -
Net Debt 2023 - - -
P/E ratio 2023 14,9x
Yield 2023 -
Capitalization 1 865 M 1 865 M -
Capi. / Sales 2023 2,52x
Capi. / Sales 2024 2,79x
Nbr of Employees 1 439
Free-Float 80,8%
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Technical analysis trends SEMTECH CORPORATION
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 29,36 $
Average target price 42,50 $
Spread / Average Target 44,8%
EPS Revisions
Managers and Directors
Mohan R. Maheswaran President, Chief Executive Officer & Director
Emeka N. Chukwu Chief Financial Officer & Executive Vice President
Rockell Nathan Hankin Independent Director
Asaf Silberstein EVP-Operations & Information Technology
Francois Tremblay Chief Technical Officer & VP-Design Engineering
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