Semtech Technology Selected for Comcast Internet-of-Things Effort
05 Octubre 2016 - 4:26PM
Noticias Dow Jones
By Josh Beckerman
Comcast Corp. will buy up to $30 million of Semtech Corp. stock
and use Semtech's wireless-radio-frequency technology in an
internet-of-things effort called MachineQ.
Testing will start later this year in Philadelphia and San
Francisco, focusing on tasks like utility metering, temperature and
noise monitoring and asset tracking.
A low-power, wide-area network using Semtech's LoRa technology
could be expanded to up to 30 U.S. cities within 30 months.
Semtech shares rose 4.5% to $29 after hours.
Comcast will buy the semiconductor company's shares under a
warrant agreement, with vesting generally based on network coverage
goals.
Semtech expects to reduce third-quarter sales by about $3.8
million to reflect warrant-related expenses. It now projects sales
of $130 million to $138 million for the quarter, compared with
prior guidance of $134 million to $142 million.
It expects earnings of 43 cents to 47 cents a share, compared
with its earlier outlook of 49 cents to 53 cents.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
October 05, 2016 17:11 ET (21:11 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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