Wrapping up Q4 earnings, we look at the numbers and key takeaways for the electronic components stocks, including Coherent (NYSE:COHR) and its peers.
Like many equipment and component manufacturers, electronic components companies are buoyed by secular trends such as connectivity and industrial automation. More specific pockets of strong demand include data centers and telecommunications, which can benefit companies whose optical and transceiver offerings fit those markets. But like the broader industrials sector, these companies are also at the whim of economic cycles. Consumer spending, for example, can greatly impact these companies’ volumes.
The 11 electronic components stocks we track reported a decent Q4; on average, revenues beat analyst consensus estimates by 0.8%. while next quarter's revenue guidance was in line with consensus. Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, but electronic components stocks have performed well, with the share prices up 22.1% on average since the previous earnings results.
Coherent (NYSE:COHR) Established in 1966 by six engineers, Coherent (NYSE:COHR) designs, manufactures, and sells photonic products for various industries.
Coherent reported revenues of $1.13 billion, down 17.4% year on year, exceeding analysts' expectations by 1.5%. Overall, it was a solid quarter for the company with an impressive beat of analysts' earnings estimates and full-year revenue guidance beating analysts' expectations.
The stock is up 54.7% since reporting and currently trades at $76.43.
Is now the time to buy Coherent? Find out by reading the original article on StockStory, it's free.
Best Q4: Corning (NYSE:GLW) Supplying windows for some of the United States’s earliest spacecraft, Corning (NYSE:GLW) provides glass and other electronic components for the consumer electronics, telecommunications, automotive, and healthcare industries.
Corning reported revenues of $3.26 billion, down 3.2% year on year, outperforming analysts' expectations by 4.6%. It was a stunning quarter for the company with an impressive beat of analysts' Display Technologies revenue estimates and a decent beat of analysts' earnings estimates.
Corning pulled off the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 44.2% since reporting. It currently trades at $45.85.
Weakest Q4: Advanced Energy (NASDAQ:AEIS) Pioneering technologies for radio frequency power delivery, Advanced Energy (NASDAQGS:AEIS) provides power supplies, thermal management systems, and measurement and control instruments for various manufacturing processes.
Advanced Energy reported revenues of $327.5 million, down 23% year on year, falling short of analysts' expectations by 6.9%. It was a weak quarter for the company with a miss of analysts' earnings estimates.
Advanced Energy posted the weakest performance against analyst estimates in the group. Interestingly, the stock is up 19.6% since the results and currently trades at $114.70.
Vicor (NASDAQ:VICR) Vicor Corporation (NASDAQ: VICR) is a developer, manufacturer, and marketer of modular power components and power systems for converting and controlling electrical power.
Vicor reported revenues of $83.87 million, down 14.3% year on year, falling short of analysts' expectations by 1.1%. Zooming out, it was a weak quarter for the company with a miss of analysts' earnings estimates.
The stock is up 9% since reporting and currently trades at $38.36.
Novanta (NASDAQ:NOVT) Originally a pioneer in the laser scanning industry during the late 1960s, Novanta (NASDAQGS:NOVT) offers medicine and manufacturing technology to the medical, life sciences, and manufacturing industries.
Novanta reported revenues of $230.9 million, up 5.4% year on year, surpassing analysts' expectations by 1.3%. Zooming out, it was a very strong quarter for the company with an impressive beat of analysts' earnings estimates.
The stock is up 13.2% since reporting and currently trades at $182.13.
This content was originally published on Stock Story
