Vishay Intertechnology, Inc. (VSH - Free Report) is pulling out all the stops to expand its sensors portfolio. This is evident from its latest strategic move of launching RAMK060 rotational absolute magnetic kit encoder, which is its new high precision position sensor.
Notably, the new product features rotor + stator kit design and off-axis design, which will aid its adoption rate in the applications that require detecting an angular position even in small space.
Further, the company is capable of achieving > 13-bit accuracy, 19-bit resolution and > 16-bit repeatability while maintaining a cushion of robustness against mechanical shock, changes in temperature, external magnetic fields, moisture and many more owing to its contactless technology.
We note that the new sensor offers solid resolution and accuracy, which are likely to drive its uptake across applications related to collaborative robots, industrial robotics, and machine tools used in printing, textile manufacturing and steering wheels for automated guided vehicles.
The latest move makes Vishay well-poised to reap benefits from the booming position sensors’ market worldwide. Per a MarketsandMarkets report, this market is expected to reach $7.3 billion by 2024, seeing a CAGR of 8% between 2019 and 2024.
Buoyant demand for accurate measurements and a detailed inspection of applications are boosting demand for position sensors.
Further, RAMK060 is expected to help Vishay expand its footprint in the global encoder’ market, which per MarketsandMarkets data report, is anticipated to hit $1.6 billion in 2019. Further, it is likely to witness an 8.6% CAGR during the 2019-2024 period and touch the $2.4-billion mark by 2024.
Expanding Passive Components Portfolio
The latest position sensor extends the company’s passive components portfolio. Moreover, the launch bodes well for the company’s continued focus on strengthening its passive components offering.
Apart from the latest tactical move, Vishay recently unveiled two models of resistors, such as WFPA3939 and WFPB3939.
These are Automotive Grade Power Metal Plate shunt resistors, which are likely to fuel the company’s momentum across automotive electronic power steering systems, power supplies for instrumentation, industrial, battery management for electric and hybrid vehicles, large motor drives and AMS applications.
Further, it introduced three series of F340 electromagnetic interference suppression film capacitors, namely F340X1, F340X2 and F340Y2, designed to withstand humidity.
We believe that a broadening passive component portfolio will likely accelerate revenue generation of the company in the near term.
Zacks Rank & Stocks to Consider
Vishay currently carries a Zacks Rank #3 (Hold).
Some other top-ranked stocks in the broader technology sector are Alteryx (AYX - Free Report) , Synopsys (SNPS - Free Report) and Keysight Technologies (KEYS - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Alteryx, Synopsys and Keysight is currently pegged at 17.62%, 12% and 10%, respectively.
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