Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,836.28
    -40.77 (-0.52%)
     

  • Bitcoin USD

    64,948.13
    +2,199.17 (+3.50%)
     

  • CMC Crypto 200

    1,338.87
    +26.25 (+2.04%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,393.90
    -4.10 (-0.17%)
     

  • Crude Oil

    82.27
    -0.46 (-0.56%)
     

  • 10-Yr Bond

    4.6470
    0.0000 (0.00%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Analog Devices (ADI) & UnitedSiC Team Up for SiC Products

Zacks Equity Research

Analog Devices, Inc. ADI and UnitedSiC have entered into a long-term supply agreement for SiC Products. However, the terms of the supply agreement are not yet announced.

UnitedSiC is a semiconductor company that develops high-efficiency silicon carbide (SiC) devices and diode power semiconductors. It delivers SiC efficiency and performance for electric vehicle (EV) chargers, DC-DC converters, traction drives, among others.

Analog Devices has been collaborating with UnitedSiC on SiC-based products and devices for more than two years. The current deal will likely strengthen Analog Devices’ analog power portfolio.

Steve Pietkiewicz, Senior VP of Power Products at ADI said, "For the last few years, we have been actively following the development and progress of silicon carbide technology and devices. We found UnitedSiC's FET technology to be ideally suited for ADI's high performance power platforms and our pursuit of additional high voltage applications."

ADVERTISEMENT

Strong Growth Expected in SiC Market

According to research firm Yole Development, the SiC power market is anticipated to witness compound annual growth rate of 29%.Also, the research firm’s analysts forecast a $1.4 billion SiC power semiconductor market by 2023. The growth is driven by strong adoption of these SiC transistors and their penetration into different applications, especially automotive.

The strong growth projection should be encouraging for Analog Devices. With the future of SiC power market looking promising, we believe that the company is well positioned to take advantage of this trend.

Bottom Line

Analog Devices’ increased focus on innovation and operational execution is expected to bode well in the near term. The company continues to benefit from rising demand for semiconductor content in Automotive, Communications and Industrial markets.

Analog Devices boasts a well-functioning communications business. The build out of TD-LTE in China, 4G network densification activities in the United States, and expected deployments in Europe and emerging regions should benefit the communications segment in the near term, increasing the chances of market share gains.

However, declining usage of the company’s products in portable consumer applications is a major headwind. In the last reported quarter, the company recorded a 21% year-over-year decline in consumer revenues. Macro uncertainty and geopolitical fears are concerns, which might hurt its top line.

Analog Devices, Inc. Price and Consensus

 

Analog Devices, Inc. Price and Consensus | Analog Devices, Inc. Quote

Zacks Rank & Stocks to Consider

Analog Devices currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Expedia Group, Inc. EXPE, AMETEK, Inc. AME and Inphi Corporation IPHI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Long-term earnings growth rate for Expedia, AMETEK and Inphi is projected at 13.4%, 9.6% and 28.4%, respectively.

This Could Be the Fastest Way to Grow Wealth in 2019

Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.

These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.

Click here to see these breakthrough stocks now >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Expedia Group, Inc. (EXPE) : Free Stock Analysis Report
 
Analog Devices, Inc. (ADI) : Free Stock Analysis Report
 
Inphi Corporation (IPHI) : Free Stock Analysis Report
 
AMETEK, Inc. (AME) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research