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STMicroelectronics, Sanken Join Forces On High-Voltage Industrial, Auto Products

support@smarteranalyst.com (Ben Mahaney)
·2 min read

STMicroelectronics (STM) and Japan's Sanken Electric Co have announced that they are collaborating on intelligent power modules (IPM) for high-voltage, high-power equipment designs.

The two companies are developing and will jointly market 650V/50A and 1200V/10A industrial modules, which they say will simplify design challenges and shrink the bill of materials for HVAC systems, industrial servo drives, industrial washing machines, and general-purpose inverters over 3 kW.

The ST/Sanken IPM product roadmap will continue with 650V/50A automotive-grade modules for high-voltage compressors, pumps, and cooling fans.

“With ST and Sanken contributing their strengths, we can bring these new high-voltage, high-power IPMs to industrial and automotive markets, ensuring superior performance, efficiency, and reliability,” cheered Sanken’s Masao Hoshino.

Engineering samples of the industrial IPMs will be available in March 2021 and production will begin soon afterwards. Samples of the automotive-grade devices will be available in second half of 2021, the companies said.

Shares in STM have surged 26% year-to-date, and the stock scores a bullish Strong Buy Street consensus. That’s with 8 recent buy ratings and just 1 hold rating. Meanwhile the average analyst price target of $40 indicates 16% upside potential lies ahead.

On October 23, Cowen & Co analyst Matthew Ramsay raised the price target on STMicroelectronics to $40 from $38 while reiterating a buy rating. He also re-emphasized the company’s ‘Top Pick’ status.

The analyst explained, “Company-specific content growth and an improved backdrop allowed STMicro to return to Y/Y growth just one quarter after the 2Q trough. We see momentum continuing into 4Q/2021. At a discount to peers and the SOXX, we believe ST’s leading portfolio of SiC, GaN, Analog, ToF, and IGBTs is still under-appreciated, with results/guidance more evidence of consistent execution.” (See STM stock analysis on TipRanks)

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