Advertisement
Australia markets closed
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • AUD/USD

    0.6525
    +0.0007 (+0.10%)
     
  • OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD

    2,254.80
    +16.40 (+0.73%)
     
  • Bitcoin AUD

    106,270.80
    -3,014.67 (-2.76%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • AUD/EUR

    0.6044
    +0.0010 (+0.16%)
     
  • AUD/NZD

    1.0900
    -0.0003 (-0.02%)
     
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NASDAQ

    18,254.69
    -26.15 (-0.14%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • Dow Jones

    39,807.37
    +47.29 (+0.12%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     

Analog's Battery Management ICs to be Used in Rimac's BMS

Analog Devices Inc. ADI recently announced that the company’s precision battery management system (BMS) integrated circuits (ICs) will be used by Rimac Automobili in its electric vehicle systems.

The company’s battery management ICs will enable Rimac’s BMS to extract maximum energy and capacity out of its batteries. This can be done by calculating reliable State of Charge and other battery parameters, thereby increasing efficiency.

The battery management ICs help in organizing battery requirements of a system by managing the power consumption from various power sources. This makes the system working on battery management ICs more reliable and efficient.

Consequently, this move is likely to boost the adoption rate of the company’s BMS integrated circuits, which in turn will drive the top line.

ADVERTISEMENT

Analog Devices, Inc. Price and Consensus

 

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

Analog Devices, Inc. price-consensus-chart | Analog Devices, Inc. Quote

Market Prospects

Battery management ICs have been gaining significant traction in recent times. These devices have been successful in making an impact across all end markets served by the company, namely auto and industrial.

Growth in demand for consumer electronics devices is expected to boost the overall battery management IC market. Also, the ever increasing demand for battery operational devices in telecommunication, networking and auto fields is expected to drive the global battery management IC market.

Per MarketsandMarkets, the global battery management system market size is estimated to grow from $5.2 billion in 2019 to $12.6 billion by 2024, at a CAGR of 19.5%. The growth is expected to be driven by the growing trend of electric vehicles, increasing requirement of battery monitoring in renewable energy systems and the need for effective electric grid management.

Analog Devices is well poised to cater to the growing demand in this domain on the back of robust product portfolio and strong capabilities.

Zacks Rank & Stocks to Consider

Currently, Analog Devices carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the broader technology sector include MACOM Technology Solutions Holdings, Inc. MTSI, Itron, Inc. ITRI and AMETEK, Inc. AME. While Advantest sports a Zacks Rank #1 (Strong Buy), Itron and AMETEK carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth for MACOM Technology, Itron and AMETEK is currently projected at 15%, 25% and 10.9%, respectively.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 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
 
Analog Devices, Inc. (ADI) : Free Stock Analysis Report
 
MACOM Technology Solutions Holdings, Inc. (MTSI) : Free Stock Analysis Report
 
Itron, Inc. (ITRI) : Free Stock Analysis Report
 
AMETEK, Inc. (AME) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research