IDT Rolls Out Digital Gas Sensor To Strengthen Portfolio
Zacks Investment Research | Jan 07, 2019 08:54PM ET
Integrated Device Technology, Inc. (NASDAQ:IDTI) has unveiled an integrated digital gas sensor platform to monitor the air quality of a smart refrigerator.
The new sensor platform — IDT ZMOD4450 — helps detect gases produced by spoiling fruits, vegetables, meat or any other dairy products.
The new sensor platform will aid in improving IDT’s service offerings to its sensor customers, particularly the smart refrigerator’s manufacturers. This is likely to give a boost to the customer base of the company, driving the top line.
Coming to share price, shares of IDT have gained 47.2% over the past year, outperforming the industry ’s decline of 14.6%.
More in the Headlines
The new sensor platform helps detect a wide variety of gases that produce odors, affect food taste or cause foods to spoil prematurely.
Soon after detection, it enables smart refrigerators to post alerts on the door-mounted displays. Not only this, it also gives an alert to the user on their smartphones and even activates deodorizing systems.
These sensors could be very useful as it helps reduce food waste by enabling consumers to identify and discard stale food before it affects other foods.
Bottom Line
IDT’s impressive efforts toward innovation and expansion of product portfolio will continue to benefit its market position. The company’s latest move bodes well for enhancing its product portfolio.
Per the report from Markets and Markets, the global market for position sensors is expected to witness at a CAGR of 6.27% between 2017 and 2022 and to reach $5.98 billion by 2022.
The company’s inductive position sensors are cost effective, magnet free, and are compatible with various kinds of applications, including consumer, automotive and industrial application.
Notably, IDT is well poised to reap benefits from this growing market with its strong portfolio of sensors and advanced designing.
Integrated Device Technology, Inc. Price and Consensus
Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.