CGNX vs KEYS vs COHU vs VIAV vs NOVT

For growth investors, Cohu, Inc.

(COHU) is the stronger pick with 12. 7% revenue growth year-over-year, versus 3. 3% for Novanta Inc. (NOVT). Keysight Technologies, Inc. (KEYS) offers the better valuation at 72. 7x trailing P/E (39. 8x forward), making it the more compelling value choice. Analysts rate Keysight Technologies, Inc. (KEYS) a "Buy" — based on 15 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Keysight Technologies, Inc.

(KEYS) is the cheapest at 72. 7x versus Viavi Solutions Inc. at 340. 3x. On forward P/E, Novanta Inc. is actually cheaper at 38. 2x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Keysight Technologies, Inc. wins at 4. 97x versus Viavi Solutions Inc. 's 12. 09x.

Over the past 5 years, Viavi Solutions Inc.

(VIAV) delivered a total return of +212. 0%, compared to -13. 2% for Cognex Corporation (CGNX). Over 10 years, the gap is even starker: KEYS returned +1279% versus CGNX's +249. 6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Cognex Corporation (CGNX) is the lower-risk stock at 1.

50β versus Cohu, Inc. 's 2. 13β — meaning COHU is approximately 42% more volatile than CGNX relative to the S&P 500. On balance sheet safety, Cognex Corporation (CGNX) carries a lower debt/equity ratio of 5% versus 89% for Viavi Solutions Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Cohu, Inc.

(COHU) is pulling ahead at 12. 7% versus 3. 3% for Novanta Inc. (NOVT). On earnings-per-share growth, the picture is similar: Viavi Solutions Inc. grew EPS 225. 0% year-over-year, compared to -16. 9% for Novanta Inc.. Over a 3-year CAGR, NOVT leads at 4. 4% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Keysight Technologies, Inc.

(KEYS) is the more profitable company, earning 15. 7% net margin versus -16. 4% for Cohu, Inc. — meaning it keeps 15. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: KEYS leads at 17. 6% versus -13. 3% for COHU. At the gross margin level — before operating expenses — CGNX leads at 66. 9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, Keysight Technologies, Inc. (KEYS) is the more undervalued stock at a PEG of 4. 97x versus Viavi Solutions Inc. 's 12. 09x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Novanta Inc. (NOVT) trades at 38. 2x forward P/E versus 89. 2x for Cohu, Inc. — 51. 0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NOVT: 10. 1% to $150. 00.

In this comparison, CGNX (0.

5% yield) pays a dividend. KEYS, COHU, VIAV, NOVT do not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, Keysight Technologies, Inc.

(KEYS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+1279% 10Y return). Cohu, Inc. (COHU) carries a higher beta of 2. 13 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (KEYS: +1279%, COHU: +330. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.