To be a shareholder in Semtech today, you need conviction in the company's ability to lead in high-speed optical and connectivity solutions for AI and IoT infrastructure, capturing growth in data center demand while managing the risks of margin pressure and integration issues. The recent launch of 1.6T Receiver Optical Engines could sharpen Semtech's short-term catalyst in data center expansion, but persistent gross margin volatility in lower-margin segments remains the key risk to watch. Among recent announcements, the debut of next-generation LoRa Gen 4 transceivers stands out as especially relevant, reinforcing Semtech's strategy to diversify revenue streams and reduce exposure to cyclical end-markets.