Wrapping up Q3 earnings, we look at the numbers and key takeaways for the specialized technology stocks, including Mirion (NYSE: MIR) and its peers.

Companies in this sector, especially if they invest wisely, could see demand tailwinds as the world moves towards more IoT (Internet of Things), automation, and analytics. Enterprises across most industries will balk at taking these journeys solo and will enlist companies with expertise and scale in these areas. However, headwinds could include rising competition from larger technology firms, as digitization lowers barriers to entry in the space. Additionally, companies in the space will likely face evolving regulatory scrutiny over data privacy, particularly for surveillance and security technologies. This could make companies have to continually pivot and invest.

The 8 specialized technology stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 3.2% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 11.1% since the latest earnings results.

Mirion (NYSE: MIR)

With its technology protecting workers in over 130 countries and equipment used in 80% of cancer centers worldwide, Mirion Technologies (NYSE: MIR) provides radiation detection, measurement, and monitoring solutions for medical, nuclear energy, defense, and scientific research applications.

Mirion reported revenues of $223.1 million, up 7.9% year on year. This print was in line with analysts’ expectations, and overall, it was an exceptional quarter for the company with a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.

“Mirion posted another strong quarter supported by the continued momentum in the nuclear power end-market,” commented Mirion’s Chairman and Chief Executive Officer Thomas Logan.

Unsurprisingly, the stock is down 6.7% since reporting and currently trades at $23.50.

We think Mirion is a good business, but is it a buy today? Read our full report here, it’s free for active Edge members.

Best Q3: Napco (NASDAQ: NSSC)

Protecting everything from schools to government facilities since 1969, Napco Security Technologies (NASDAQ: NSSC) manufactures electronic security devices, access control systems, and communication services for intrusion and fire alarm systems.

Napco reported revenues of $49.17 million, up 11.7% year on year, outperforming analysts’ expectations by 4.8%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 5.5% since reporting. It currently trades at $41.70.

Is now the time to buy Napco? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Cognex (NASDAQ: CGNX)

Founded in 1981 when computer vision was in its infancy, Cognex (NASDAQ: CGNX) develops machine vision systems and software that help manufacturers and logistics companies automate quality inspection and tracking of products.

Cognex reported revenues of $276.9 million, up 18% year on year, exceeding analysts’ expectations by 5.2%. It was a satisfactory quarter as it also posted a solid beat of analysts’ revenue estimates but a significant miss of analysts’ full-year EPS guidance estimates.

As expected, the stock is down 24.1% since the results and currently trades at $36.02.

Read our full analysis of Cognex’s results here.

Crane NXT (NYSE: CXT)

Born from a corporate transformation completed in 2023, Crane NXT (NYSE: CXT) provides specialized technology solutions for payment processing, banknote security, and authentication systems for financial institutions and businesses.

Crane NXT reported revenues of $445.1 million, up 10.3% year on year. This number beat analysts’ expectations by 3.6%. Overall, it was a strong quarter as it also logged a solid beat of analysts’ organic revenue estimates and an impressive beat of analysts’ revenue estimates.

The stock is down 26.7% since reporting and currently trades at $47.07.

Read our full, actionable report on Crane NXT here, it’s free for active Edge members.

PAR Technology (NYSE: PAR)

Originally founded in 1968 as a defense contractor for the U.S. government, PAR Technology (NYSE: PAR) provides cloud-based software, payment processing, and hardware solutions that help restaurants manage everything from point-of-sale to customer loyalty programs.

PAR Technology reported revenues of $119.2 million, up 23.2% year on year. This print surpassed analysts’ expectations by 5.8%. It was a very strong quarter as it also produced a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

PAR Technology delivered the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is up 9.4% since reporting and currently trades at $36.29.

Read our full, actionable report on PAR Technology here, it’s free for active Edge members.

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