Sensata (ST) Debuts New Electrified Flight Solutions' Portfolio
Sensata Technologies ST recently announced that it will be introducing its new Electrified Flight Portfolio at National Business Aviation Association’s Business Aviation Convention & Exhibition 2023, to be held on Oct 17-19 in Las Vegas, N.V.
The new Electrified Flight Portfolio includes innovative products like Electric Drive Sensors, Electrified Flight Contactors, Inceptors and Insulation Monitoring Devices. ST added that the new portfolio reflects its commitment to advancing electrified flight technology.
Sensata’s latest addition to this portfolio is the range of new Electrified Flight (SELF) contactors, which are designed and tested to meet the demands of electric aircraft.
SELF-C350 800V contactors have a “ceramic-brazed” header. Per Sensata, it is the lightest weight, 800V contactor rated to 350A continuous current. This makes it ideal for applications for battery mains, pre-charge circuits, and cross-links between batteries and electric propulsion units.
Sensata Technologies Holding N.V. Price and Consensus
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SELF-CM 1500 V contactors are the smallest UL508 (Safety Standard for Industrial Control Equipment) approved contactors for 800V and 1000V hot switching. Its high voltage handling capacity is suited for high-power applications including inverter systems, charging infrastructure, and battery packs.
SELF-CP power contactors can easily be installed in any orientation on a panel or PCB, noted Sensata. These can achieve “safe make and break power switching” at any voltage up to 1500Vdc and at currents up to 80 amps. This makes it suitable for use in pre-charge circuits and battery chargers.
SELF-CBG contactors boast glass-to-metal seals technology and are designed to offer improved performance and reliability, thereby guaranteeing high electrical insulation. These have fully bi-directional switching, and are well-suited for use in DC fast charging and applications requiring continuous current of 400 amps and power switching up to 1500VDC.
Sensata develops, manufactures and sells innovative sensor-based solutions. It has a diversified portfolio of personalized and unique sensor-rich applications, from automotive braking systems to aircraft flight controls, that are utilized ubiquitously.
Sensata recently announced a series of cost-cutting actions but reiterated guidance for third-quarter 2023 and provided preliminary fourth-quarter 2023 outlook.
Continued economic uncertainty across several end markets has resulted in weak demand. To tackle muted demand, ST is planning to undertake “reductions-in-force” (both voluntary and involuntary) as well as site closures to boost margin performance.
Sensata expects new business wins to drive the top line over the long term. The company’s electrification business is likely to benefit from ongoing demand for renewable power generation. Management anticipates to generate about $2 billion in revenues from electrification business by 2026. For 2023 and 2026, it forecasts revenues in the range of $4.02-$4.1 billion and $5-$5.3 billion, respectively.
ST currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the broader technology space are Asure Software ASUR, Synopsys SNPS and VMware VMW. Each stock is sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Asure Software’s 2023 EPS has increased 5.9% in the past 60 days to 54 cents.
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The Zacks Consensus Estimate for Synopsys’ fiscal 2023 EPS has improved 2.5% in the past 60 days to $11.09. SNPS’ long-term earnings growth rate is 16.4%. Shares of SNPS have climbed 72% in the past year.
The Zacks Consensus Estimate for VMware’s fiscal 2024 EPS has improved 5.9% in the past 60 days to $7.23.
VMware’s earnings outpaced the Zacks Consensus Estimate in two of the last four quarters, while missing it in the remaining quarters. The average earnings surprise is 1.2%. Shares of VMW have jumped 60.9% in the past year.
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