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3 Hot Stocks That Can Live Up to Their Lofty Valuations

Lee Samaha, The Motley Fool
·5-min read
3 Hot Stocks That Can Live Up to Their Lofty Valuations

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. ON Semiconductor, commonly known as Onsemi, is working toward a future focused on automotive and industrial end markets. It's no secret that automotive companies are investing heavily in electric vehicles (EVs), advanced driver assistance systems (ADAS), and autonomous driving technology.

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