The 1.5SMC20CA-M3/9AT: The Tape & Reel packaging suits automated pick-and-place assembly.
Transient suppression ratings and what they mean for the BOM
The 54.2 A peak pulse current at that waveform tells you the device can handle a substantial surge before the clamping voltage rises to 27.7 V maximum. For a 17.1 V reverse standoff voltage, the TVS stays off below that DC level; it only starts conducting when the transient exceeds the 19 V minimum breakdown voltage. Because the clamping voltage is 27.7 V at the peak current, the downstream circuitry must survive at least that voltage for the duration of the surge.
The -M3/9AT suffix indicates the specific packaging and qualification level.
