MillerKnoll, Super Micro, Cogent, Avnet, and Cognex Stocks Trade Up, What You Need To Know

Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Globalstar and its peers.

The sector is a tale of two cities. Satellite telecommunication is generally buoyed by rising global demand for connectivity in costly-to-connect and remote areas. On the other hand, terrestrial telecommunication companies face an uphill battle, as they mostly sell into a deflationary market, where the price of moving a bit tends to decrease over time with better technology. Despite the differences in demand drivers, companies across the entire industry must contend competition from larger telecom conglomerates and hyperscalers expanding their own networks as well as newer entrants such as SpaceX's StarLink.

The 6 telecommunication services stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 3.9%.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Best Q3: Globalstar

Known for powering the emergency SOS feature in newer Apple iPhones, Globalstar operates a network of low-earth orbit satellites that provide voice and data communications services in remote areas where traditional cellular networks don't reach.

Globalstar reported revenues of $73.85 million, up 2.1% year on year. This print exceeded analysts’ expectations by 7.1%. Overall, it was a stunning quarter for the company with a beat of analysts’ EPS and revenue estimates.

Interestingly, the stock is up 24% since reporting and currently trades at $59.83.

Read why we think that Globalstar is one of the best telecommunication services stocks, our full report is free.

Iridium

With a constellation of 66 low-earth orbit satellites providing coverage to every inch of the planet, Iridium Communications operates a global satellite network that provides voice and data services to customers in remote areas where traditional telecommunications are unavailable.

Iridium reported revenues of $226.9 million, up 6.7% year on year, outperforming analysts’ expectations by 1.7%. The business had an exceptional quarter with a beat of analysts’ EPS estimates and a decent 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 2.5% since reporting. It currently trades at $19.17.

Weakest Q3: Array

Operating as a majority-owned subsidiary of Telephone and Data Systems since its founding in 1983, Array (NYSE:Array) is a regional wireless telecommunications provider serving 4.6 million customers across 21 states with mobile phone, internet, and IoT services.

Array reported revenues of $47.12 million, up 83.1% year on year, exceeding analysts’ expectations by 15.7%. Still, it was a slower quarter as it posted a significant miss of analysts’ EPS estimates.

Interestingly, the stock is up 21.3% since the results and currently trades at $57.86.

Read our full analysis of Array’s results here.

Viasat

Operating a fleet of 23 satellites that orbit the Earth and beam connectivity from space, Viasat provides satellite-based communications networks and services for airlines, maritime vessels, governments, businesses, and residential customers worldwide.

Viasat reported revenues of $1.14 billion, up 1.7% year on year. This result lagged analysts' expectations by 0.6%. Taking a step back, it was still a very strong quarter as it put up a beat of analysts’ EPS estimates.

The stock is up 17.5% since reporting and currently trades at $42.08.

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

Cogent

Operating a massive network spanning 20,000 miles of fiber optic cable and connecting to over 3,200 buildings worldwide, Cogent Communications provides high-speed Internet access, private network services, and data center colocation to businesses and bandwidth-intensive organizations across 54 countries.

Cogent reported revenues of $241.9 million, down 5.9% year on year. This number missed analysts’ expectations by 1.7%. Zooming out, it was actually a strong quarter as it recorded a beat of analysts’ EPS estimates.

Cogent had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is down 39.6% since reporting and currently trades at $23.13.

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

Looking back on it distribution & solutions stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Insight Enterprises and its peers.

IT Distribution & Solutions will be buoyed by the increasing complexity of IT ecosystems, rising cloud adoption, and demand for cybersecurity solutions. Enterprises are less likely than ever to embark on these complicated journeys solo, and companies in the sector boast expertise and scale in these areas. However, cloud migration also means less need for hardware, which could dent demand for large portions of the product portfolio and hurt margins. Additionally, planning for potentially supply chain disruptions is ongoing, as the COVID-19 pandemic showed how damaging a pause in global trade could be in areas like semiconductor procurement.

The 8 it distribution & solutions stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 1.1% 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 6.3% since the latest earnings results.

Insight Enterprises

With over 35 years of IT expertise and partnerships with more than 8,000 technology providers, Insight Enterprises provides end-to-end digital transformation solutions that help businesses modernize their IT infrastructure and maximize the value of technology.

Insight Enterprises reported revenues of $2.00 billion, down 4% year on year. This print fell short of analysts’ expectations by 5.9%. Overall, it was a softer quarter for the company with a significant miss of analysts’ revenue and EPS estimates.

The stock is down 23% since reporting and currently trades at $79.85.

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

Best Q3: ePlus

Starting as a financing company in 1990 before evolving into a full-service technology provider, ePlus provides comprehensive IT solutions, professional services, and financing options to help organizations optimize their technology infrastructure and supply chain processes.

ePlus reported revenues of $608.8 million, up 23.4% year on year, outperforming analysts’ expectations by 17.5%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.

ePlus pulled off the biggest analyst estimates beat and fastest revenue growth among its peers. The market seems happy with the results as the stock is up 17% since reporting. It currently trades at $85.83.

Weakest Q3: Connection

Starting as a small computer products seller in 1982 and evolving into a Fortune 1000 company, Connection is a technology solutions provider that helps businesses and government agencies design, purchase, implement, and manage their IT infrastructure and systems.

Connection reported revenues of $709.1 million, down 2.2% year on year, falling short of analysts’ expectations by 4.7%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and EPS estimates.

As expected, the stock is down 8.3% since the results and currently trades at $55.81.

Read our full analysis of Connection’s results here.

Ingram Micro

Operating as the crucial link in the global technology supply chain with a presence in 57 countries, Ingram Micro is a global technology distributor that connects manufacturers with resellers, providing hardware, software, cloud services, and logistics expertise.

Ingram Micro reported revenues of $12.6 billion, up 7.2% year on year. This result topped analysts’ expectations by 3%. Overall, it was a strong quarter as it also logged revenue guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ revenue estimates.

The stock is down 5.2% since reporting and currently trades at $20.92.

Read our full, actionable report on Ingram Micro here, it’s free.

Avnet

With a century-long history of adapting to technological evolution, Avnet is a global electronic components distributor that connects manufacturers of semiconductors and other electronic parts with businesses that need these components.

Avnet reported revenues of $5.90 billion, up 5.3% year on year. This print surpassed analysts’ expectations by 3%. It was a strong quarter as it also produced revenue guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ revenue estimates.

The stock is down 2.8% since reporting and currently trades at $49.13.

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

What Happened?

A number of stocks traded in opposite directions in the afternoon session after geopolitical tensions between the United States and the European Union escalated, sparking fears of a renewed trade war. 

The broader markets adopted a "risk-off" mode, with investors seeking safe-haven assets amidst the uncertainty. The market's primary fear gauge, the VIX, jumped to a fresh eight-week high, signaling rising investor anxiety. The dispute, centered on Greenland, raised the possibility of a revived trade conflict, which could disrupt global supply chains and economic activity. Mega-cap technology stocks, many of which have significant international sales and operations, were particularly affected by the souring risk sentiment as a potential trade war threatens their global business models.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Satellite Telecommunication Services company Globalstar jumped 1%. Is now the time to buy Globalstar? Access our full analysis report here, it’s free.
• Terrestrial Telecommunication Services company Cogent fell 0.3%. Is now the time to buy Cogent? Access our full analysis report here, it’s free.
• Hardware & Infrastructure company Hewlett Packard Enterprise fell 4.1%. Is now the time to buy Hewlett Packard Enterprise? Access our full analysis report here, it’s free.
• Satellite Telecommunication Services company Viasat fell 6%. Is now the time to buy Viasat? Access our full analysis report here, it’s free.
• Digital Media & Content Platforms company Getty Images fell 1.9%. Is now the time to buy Getty Images? Access our full analysis report here, it’s free.

Zooming In On Viasat (VSAT)

Viasat’s shares are extremely volatile and have had 61 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 4 days ago when the stock gained 3% on the news that Morgan Stanley significantly raised its price target on the stock and the company announced new business developments. 

The investment bank increased its price target on Viasat to $51 from $12, though it maintained an Equalweight rating. In addition, the company, along with Bharat Sanchar Nigam Limited (BSNL), announced it would support the next phase of the Indian Navy's satellite communications modernization program. This plan involved deploying Viasat's high-capacity satellite systems for secure connectivity. Viasat also revealed plans to deploy a new test facility in Singapore to support air traffic operations throughout the Asia Pacific region, further reinforcing its commitment to advancing global aviation.

Viasat is up 17.7% since the beginning of the year, and at $44.28 per share, it is trading close to its 52-week high of $45.94 from January 2026. Investors who bought $1,000 worth of Viasat’s shares 5 years ago would now be looking at an investment worth $1,140.

What Happened?

Shares of server solutions provider Super Micro fell 3.7% in the morning session after a Citi analyst cut the company's price target, while broader market weakness added to the negative pressure. 

Five-star Citi analyst Asiya Merchant reiterated a "Hold" rating on Super Micro Computer's stock but lowered the price outlook. This move followed other bearish coverage from the previous week, when a Goldman Sachs analyst maintained a "Sell" rating and also cut their price target. Compounding the issue, the wider stock market also fell. The downturn was linked to investor reactions after a threat was made to impose tariffs on eight European countries, which pushed the major indices lower.

What Is The Market Telling Us

Super Micro’s shares are extremely volatile and have had 66 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 7 days ago when the stock dropped 5.5% on the news that Goldman Sachs initiated coverage of the stock with a "Sell" rating and a $26 price target. 

The analyst cited ongoing pressure on the company's profit margins and limited clarity on its future profitability, despite strong growth in its AI-server business. The bank noted that margins had been cut in half over the previous three years to 9.5%. Goldman Sachs also believed Super Micro's position between powerful suppliers and a few large customers left it unable to set its own prices. The firm's earnings per share forecasts for Super Micro were 10% below the general expectation from other analysts.

Super Micro is up 1.9% since the beginning of the year, but at $31.56 per share, it is still trading 48% below its 52-week high of $60.71 from July 2025. Investors who bought $1,000 worth of Super Micro’s shares 5 years ago would now be looking at an investment worth $9,370.