Advanced Energy Industries Inc. ( AEIS Quick Quote AEIS - Free Report) has unveiled a user-configurable modular power supply platform namely Excelsys CoolX3000 in a bid to bolster its product portfolio. Notably, CoolX3000 provides variable fan speed control, unique levels of flexibility and scalability, and the highest power level in the range. Moreover, it offers up to 24 isolated user field-configurable outputs and individual output controls. Also, the new launch is well-equipped to provide sequencing control via digital and analog interfaces along with full control of output voltage and current. We note that the company has designed CoolX3000 for a wide array of medical and industrial applications. Also, it meets the latest medical and industrial safety standards. It can be used in industrial equipment. Further, CoolX3000 can be utilized in life science systems, clinical chemistry, treatment equipment, medical diagnostics and imaging applications. New Launch to Benefit
We note that Advanced Energy is expected to gain strong traction among the industrial and medical markets on the heels of its latest move.
Moreover, the latest move bodes well for the company’s deepening focus on strengthening key industrial and medical offerings. It is likely to contribute well to its industrial & medical revenues, which account for a decent portion of total revenues. Notably, Advanced Energy generated $87 million (22.3% of revenues) of industrial & medical revenues in third-quarter 2020, which went up 57.7%. Further, the new launch is likely to help the company to rapidly penetrate the booming market for configurable power supplies. Additionally, CoolX3000 is well-designed to meet the criteria of Industry 4.0 as it offers a digital communication feature. This remains noteworthy. Expanding Product Portfolio
CoolX3000 launch expands the company’s CoolX family of configurable power supplies,which also includes CX600, CX1000 and CX1800 Series.
Further, it adds strength to the overall product portfolio, which remains the key catalyst for the company. Apart from CoolX3000, Advanced Energy recently rolled out a new lighting power and control system that can be ideally used in indoor, vertical and greenhouse farming. Further, the company rolled out MAXstream remote plasma source product line that offers delivers higher power accuracy, best-in-class plasma ignition and increased reliability. This product line can be primarily used in plasma cleaning of process chambers. We believe that expanding product portfolio will continue to shape the growth trajectory of Advanced Energy in the near term. Zacks Rank &Other Stocks to Consider
Advanced Energy currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Teradyne, Inc. ( TER Quick Quote TER - Free Report) , Covetrus, Inc. ( CVET Quick Quote CVET - Free Report) and Trimble Inc. ( TRMB Quick Quote TRMB - Free Report) . All three stocks carry a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Long-term earnings growth rates for Teradyne, Covetrus and Trimble are currently pegged at 21.19%, 20.1% and 10%, respectively. Legal Marijuana: An Investor’s Dream
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