2023-06-05 05:10:00 ET
Because the stock for all three of these companies trades at more than 20 times current earnings, shares of ON Semiconductor (NASDAQ: ON) , Cognex (NASDAQ: CGNX) , and Teledyne Technologies (NYSE: TDY) wouldn't be considered cheap by the usual metrics. Still, all three of these tech stocks have excellent long-term growth prospects that could make their current valuations look very reasonable.
Let's find out more about these three hot stocks.
ON Semiconductor, commonly known as Onsemi, is working toward a future focused on automotive and industrial end markets. Management expects these two segments will combine to contribute 75% of revenues in 2025 compared to 60% in 2021.
For further details see:
3 Hot Stocks That Can Live Up to Their Lofty Valuations