Rogers Corp is an Arizona-based specialty engineering materials company. It sells materials used in circuits, connectivity applications, wireless infrastructure, automotive industry, and defense industry. It also sells polyurethane and silicone materials used in cushioning, gaskets, sealing, and vibration management. Increasing investments in 5G infrastructure, electric vehicles, and the Internet of Things are expected to be positive factors for the company. Rogers Corporation is among the best electronic components stocks 2020.
Estimate-beating Q32020 Results
Rogers reported its Q32020 earnings results on 29th October 2020. Revenues were down 8.97% year-on-year to $201.9 million. However, they comfortably beat analyst estimates of around $184 million. The earnings per share also decreased by 3.97% on a Y-o-Y basis to $1.45 per share. However, the earnings per share were comfortably above analyst estimates of $1 per share.
According to Bruce Hoechner, CEO, Rogers Corporation, “… sales, gross margin and adjusted EPS all improved sequentially and exceeded our previously announced guidance ranges. Strong demand in the EV/HEV ADAS portable electronics and defense markets drove the higher-than-expected sales. EV/HEV sales grew double digits sequentially driven by strong demand for battery pad and ceramic substrate applications.”
The trends in the auto sector, and especially the way EV and HEV technologies develop, is expected to have a significant impact on Rogers’ future performance.
The Performances of The Top Electronic Components Stocks
Rogers Corporation stock closed at $135.01 on 12th November 2020, up a strong 29% for the past month. Its 52-week high is $157.1 and the stock seems to be gradually making its way towards that level. On a longer-term basis, the stock is up 4.27% for the year 2020 and up 154% on a 5-year basis.
A competitor of Rogers, Accsys Technologies PLC, is up 5.95% for the past month. Its stock closed at $92 on 12th November 2020. However, Accsys is down 10% on a year-to-date basis. On a 5-year basis, the stock is up more than 50%.