Vishay Intertechnology, Inc. (VSH Quick QuoteVSH - Free Report) unveiled two new fixed-gain infrared (IR) sensor modules, namely TSSP93038DF1PZA and TSSP93038SS1ZA.

The new sensor modules operate seamlessly in bright sunlight without additional components like dark panels, apertures and sunshades. Thus, the new devices help in reducing system costs.

Further, they feature a low supply current of 0.35 mA and offer irradiance of 1.3 mW/m² in compact minimold packages. These modules operate over a supply voltage range from 2.0 V to 3.6 V.

Notably, both modules are capable of sensing the distance to objects for toys, drones, robots, and vicinity switches. They are also well-equipped to detect the presence of traffic control lights and parking lot, gateway access and water level sensors.

Additionally, these devices can be used for sensing light barriers for sports racing and lawnmower robots. Also, they can be used as reflective sensors for hand dryers, towel or soap dispensers, water faucets, toilets, vending machine fall detection, and security and pet gates.

The useful nature and cost-effectiveness of TSSP93038DF1PZA and TSSP93038SS1ZA are expected to aid Vishay in gaining momentum across outdoor sensor applications.

Growth Prospects

The latest move has added strength to the company’s optoelectronics portfolio. Moreover, growing optoelectronics offerings position the company well to expand its footprint in the optoelectronics industry.

Per a report from The Business Research Company, the global optoelectronics market is expected to reach $14.56 billion by 2027 at a CAGR of 18.4%.

A Precedence Research report shows that the market is expected to hit $21.2 billion by 2032, by registering a CAGR of 12.5% between 2023 and 2032.

We note that growing prospects in this booming market are likely to instill investor optimism in the stock.

Vishay has gained 35.7% on a year-to-date basis against the industry’s decline of 5.2%.

Expanding Portfolio

Vishay's latest move is in line with its growing efforts to expand its overall product portfolio.

Apart from the launch of TSSP93038DF1PZA and TSSP93038SS1ZA, Vishay recently rolled out four new series of 200 V FRED Pt ultrafast rectifiers in the low profile DFN3820A package, with the help of which it remains well-poised to gain solid momentum across commercial, industrial and automotive applications.

Furthermore, the company introduced a new automotive Grade photovoltaic MOSFET driver called VOMDA1271. It provides high performance, fast switching times and a high open circuit output voltage, making it ideal for automotive applications.

Vishay also introduced MCB ISOA, a thick film power resistor. The device offers high power dissipation and optional temperature monitoring, making itself ideal for automotive, industrial, and avionics, military and space applications.

Additionally, the company introduced 17 new Gen 3 650V silicon carbide Schottky diodes with improved efficiency and reliability.

We think that all these efforts will likely drive the company's top line in the days ahead.

Zacks Rank & Stocks to Consider

Currently, Vishay Intertechnology carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader technology sector are Akamai Technologies (AKAM Quick QuoteAKAM - Free Report) , AvidXchange (AVDX Quick QuoteAVDX - Free Report) and Baidu (BIDU Quick QuoteBIDU - Free Report) . Akamai Technologies sports a Zacks Rank #1 (Strong Buy), while AvidXchange and Baidu carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Akamai shares have gained 5.6% in the year-to-date period. The long-term earnings growth rate for AKAM is currently projected at 10%.

AvidXchange shares have increased 4.7% in the year-to-date period. The long-term earnings growth rate for AVDX is currently projected at 22.90%.

Baidu shares have gained 17.7% in the year-to-date period. Its long-term earnings growth rate is presently projected at 48%.