Final answer:
Professor Smith is seeking feedback on the comprehension of his students.
Step-by-step explanation:
When Professor Smith inquires, "Do you all understand me?" during his lecture, he is seeking feedback on the comprehension of his students. This component of communication is known as feedback, which is the response or reaction to a message that is given by the receiver. In this case, the professor is looking for confirmation that his students understand the material being taught.