Advanced Energy Industries (AEIS Quick QuoteAEIS - Free Report) has unveiled Luxtron M-1100, which is a multi-channel sensing platform offering high-accuracy.

The platform operates across a wide temperature range of -200°C to 450°C with +/- 0.1°C precision and +/- 0.05°C stability. This makes it ideal for plasma-enhanced semiconductor deposition and etch fabrication processes.

Luxtron M-1100, that utilizes fiber optic probes with phosphor sensor technology, is integrated with five channels, thanks to which it is capable of monitoring multiple probes from a single converter.

Moreover, the platform provides both analog and EtherCAT communication interfaces.

With the latest move, the company has expanded its Luxtron FluorOptic Thermometry product family and its fiber optic sensor portfolio.

Growth Prospect

The recent launch keeps AEIS well-poised to capitalize on the growth prospects present in the fiber optic sensor market.

According to a report from Transparency Market Research, the global fiber optic sensors market is expected to reach $7.6 billion by 2031 by registering a CAGR of 9.6% between 2023 and 2031.

The growing prospects of Advanced Energy in this booming market are likely to instill investors optimism in the stock.  

Notably, AEIS has gained 25.4% in the year-to-date period compared with the industry’s rally of 37.5%.

Expanding Portfolio

The launch of Luxtron M-1100 bodes well for the company’s growing efforts toward expanding its overall portfolio.

Recently, Advanced Energy added a 150 W series to its SL Power NGB family of AC-DC power supplies. With NGB150 series, the company remains well-positioned to gain momentum among critical medical and industrial applications.

Further, AEIS expanded its TEGAM product line with the addition of two new handheld temperature calibrators, namely Intrinsically Safe TEGAM 947A and TEGAM 948A, which provide high accuracy and safety in hazardous environments.

Additionally, the company rolled out 48 V module in order to strengthen its Artesyn AIF line of full-brick AC-DC converters. The module offers high efficiencies of up to 93% and a compact form factor, making it suitable for applications, such as 5G remote-radio-head RF, robotics, 3D printing and industrial designs.

Advanced Energy also unveiled, UltraVolt AEQ, a new series of ultra-miniature isolated single and dual-output high voltage DC-DC converters.

We believe that Advanced Energy's expanding portfolio will continue to sustain its momentum in various end-markets, which, in turn, will drive its top-line growth in the days ahead.

Zacks Rank & Stocks to Consider

Currently, Advanced Energy Industries carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader technology sector are Palo Alto Networks (PANW Quick QuotePANW - Free Report) , Akamai Technologies (AKAM Quick QuoteAKAM - Free Report) and AMETEK (AME Quick QuoteAME - Free Report) . Palo Alto Networks and Akamai Technologies sport a Zacks Rank #1 (Strong Buy) each, while AMETEK carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Palo Alto Networks have risen 77.4% in the year-to-date period. The long-term earnings growth rate for PANW is currently projected at 31.5%.

Shares of Akamai Technologies have gained 6.5% in the year-to-date period. The long-term earnings growth rate for AKAM is currently projected at 10%.

Shares of AMETEK have climbed 12.4% in the year-to-date period. The long-term earnings growth rate for AME is currently projected at 8.95%.