Earnings results often indicate what direction a company will take in the months ahead. With Q1 behind us, let’s have a look at Novanta (NASDAQ:NOVT) 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 10 electronic components stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 1.9% while next quarter’s revenue guidance was in line.

Luckily, electronic components stocks have performed well with share prices up 22.3% on average since the latest earnings results.

Novanta (NASDAQ:NOVT)

Originally a pioneer in the laser scanning industry during the late 1960s, Novanta (NASDAQ:NOVT) offers medicine and manufacturing technology to the medical, life sciences, and manufacturing industries.

Novanta reported revenues of $233.4 million, up 1.1% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company with a decent beat of analysts’ EPS estimates but revenue guidance for next quarter missing analysts’ expectations.

Interestingly, the stock is up 5.5% since reporting and currently trades at $126.33.

Read our full report on Novanta here, it’s free.

Best Q1: Allient (NASDAQ:ALNT)

Founded in 1962, Allient (NASDAQ:ALNT) develops and manufactures precision and specialty-controlled motion components and systems.

Allient reported revenues of $132.8 million, down 9.5% year on year, outperforming analysts’ expectations by 5.7%. The business had an incredible quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 41.8% since reporting. It currently trades at $31.47.

Is now the time to buy Allient? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: Vicor (NASDAQ:VICR)

Founded by a researcher at the Massachusetts Institute of Technology, Vicor (NASDAQ:VICR) provides electrical power conversion and delivery products for a range of industries.

Vicor reported revenues of $93.97 million, up 12% year on year, falling short of analysts’ expectations by 2.8%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.