Do You Have These 4 Robotics Stocks On Your Radar?
As the stock market appears to be taking a breather today, tech stocks could continue to present opportunities for investors. These include robotics stocks that may have been going under the radar of some investors. After all, robotics and automation not only make industrial processes more efficient. There are also robots that can also offer convenience to consumers. For example, Amazon (NASDAQ: AMZN) utilizes mobile robots inside its warehouse network, working side-by-side with human workers. These robots play an integral part in helping the company achieve speedy deliveries to customers. But Amazon also has a home robot known as the Astro. It can help owners monitor their homes for security purposes or keep track of elderly family members.
Innovations within the robotic space come in multiple forms and use cases. Today, medical surgeons are utilizing robotics to perform some of the more complicated surgeries to obtain higher success rates. Take Intuitive Surgical’s (NASDAQ: ISRG) da Vinci platform as an example. It has performed more than 8.5 million surgeries thus far and continues to help deliver better care for patients around the world. With that in mind, could more industries start adopting robotics in their processes? If so, would you be interested in a list of some of the top robotics stocks in the stock market today?
Best Robotics Stocks To Watch Before 2022
- UiPath Inc (NYSE: PATH)
- Teradyne, Inc (NASDAQ: TER)
- Rockwell Automation (NYSE: ROK)
- iRobot Corporation (NASDAQ: IRBT)
UiPath
First, we will be looking at the up-and-rising robotics company, UiPath. Put simply, the company offers an end-to-end platform for automation. By combining the Robotic Process Automation solution with a suite of capabilities, it enables every organization to scale digital business operations. Following its IPO in April this year, PATH stock appears to be moving sideways. Could things finally be looking up for the stock?
The company recently announced its third-quarter financial update. Its annual recurring revenue (ARR) grew to $818.4 million, an increase of 58% year-over-year. Besides that, it had several technical partnerships during the quarter that included the likes of Alteryx (NYSE: AYX), Crowdstrike (NASDAQ: CRWD), and Snowflake (NYSE: SNOW). Safe to say, UiPath continues to grow as more companies begin to recognize the benefits of leveraging automation.
Furthermore, the company also announced an expanded collaboration with Accenture (NYSE: ACN) yesterday. This partnership will help companies boost the adoption of enterprise-wide automation and create new growth opportunities. That said, PATH stock appears to be edging lower as of 9:30 a.m. ET despite these positive developments. So, could this be an opportunity to buy PATH stock on the dip?
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Teradyne
Another top automation company to note would be Teradyne. The company is a global supplier of automation equipment for test and industrial applications. Its Industrial Automation segment includes operations related to the design, manufacturing, and marketing of collaborative robotic arms, autonomous mobile robots, and advanced robotic control software. TER stock has been riding on a strong bullish momentum lately, with a gain of over 40% within the past year.
In October, Teradyne announced its third-quarter earnings. Impressively, revenue for the quarter was $951 million, up 16% year-over-year. Meanwhile, GAAP earnings per share was $1.41, increasing by 17% from a year ago. “Demand for both our Test and Industrial Automation products remained strong in Q3 and we delivered our eighth consecutive quarter of double-digit, year on year revenue and profit growth,” said Teradyne CEO and President Mark Jagiela.
It’s also worth noting that Teradyne’s subsidiary LitePoint announced a collaboration with Microchip Technology (NASDAQ: MCHP) back in October. LitePoint will deliver simplified design validation and turnkey manufacturing test solutions for next-generation Internet of Things systems. Thus, users can set up and test the wireless quality of devices in hours instead of weeks. With that in mind, would TER stock be one to watch for the future?
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Rockwell Automation
Rockwell Automation is a provider of industrial automation and digital transformation solutions. Essentially, it operates through two segments, Architecture & Software and Control Products & Solutions. Its automation platform products include programmable automation controllers, human-machine interface products, sensing devices, machine safety devices, and many more.
On Wednesday, the company’s Plex System announced that it has passed the ISO/IEC 27001:2013 certification audit for its Smart Manufacturing Platform. This achievement demonstrates Plex’s long-standing commitment to maintaining the best security practices for its employees and customers. Also, it solidifies the company as the leading provider of secure smart manufacturing solutions.
Not to mention, Plex System also announced the launch of Plex Production Monitoring last month. This is a new quick-start solution that helps manufacturers gain visibility into real-time plant floor data. Thus, manufacturers can create scoreboards and customizable views, displaying measurements such as downtime, quality, and production cycles. Given these exciting developments, would you consider ROK stock a top robotics stock to watch?
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iRobot
To sum up the list, we have the consumer robot company, iRobot. The company’s consumer robots help people in finding smarter ways to clean and accomplish more in their daily lives. Its portfolio of products consists of robot families such as Roomba, Braava, and Root. Also, the company provides ongoing customer service and support via the iRobot HOME App that makes everything ever so convenient.
As a company that serves the consumer market, it certainly is ramping up the holiday spirit. We saw the company unveiling new features powered by iRobot Genius™ Home Intelligence last week. There will be further personalization and smart home experiences for the Roomba j7 and j7+ robot vacuums and other connected robots. So, the j7s will be able to recommend cleaning zones around Holiday trees and even place a Keep Out Zone in the center which prevents the robot from contacting the tree.
It is also noteworthy that iRobot announced in November the acquisition of Aeris Cleantec, a premium air purifiers provider from Switzerland. This acquisition supports iRobot’s vision of building the world’s most thoughtful robotics and developing intelligent home innovations that improve life. All things considered, the company appears to be trending in the right direction. So, would you consider adding IRBT stock to your watchlist?
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