Cypress Semiconductor Corporation announced a new USB-C controller ACG1F for notebooks and computer desktops.
The controller can be used to convert USB Type-A to Type C ports. ACG1F is embedded with a VBUS load switch, which makes it easy for any device to adapt to USB-C. It can be used across a range of devices irrespective of their operating system and is thus cost efficient.
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Notably, ACG1F will help Cypress widen its customer base with new features like a 32-bit Arm Cortex-M0 processor with 16-KB flash. The controller has been built using USCI - the latest USB Type-C Connector System Software, which makes it a robust solution.
These controllers are easy-to-use reversible connectors that support various standards like USB 3.1, DisplayPort, Thunderbolt and HDMI.
As a result, USB type C is rapidly replacing conventional USB-A ports, thus creating growth opportunities for Cypress. These controllers will most likely be available in the fourth quarter of 2019.
The latest launch positions the company well to capitalize on the booming USB-C market, which per a report from Credence Research, is expected to witness CAGR of 25.7% over 2019-2025.
We believe that ACG1F is likely to help Cypress rapidly penetrate into the fast growing consumer electrics market with increasing production of notebooks, laptops, and computers among other devices.
The latest move reflects the company’s continued focus on strengthening its product portfolio that is likely to drive top-line growth.
Zacks Rank & Stocks to Consider
Currently, Cypress carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Alteryx (AYX - Free Report) , Garmin (GRMN - Free Report) and Agilent Technologies (A - Free Report) . While Alteryx and Garmin sport a Zacks Rank #1 (Strong Buy), Agilent carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected earnings growth rate for Alteryx, Garmin and Agilent is currently pegged at 17.6%, 7.4% and 11.8%, respectively.
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