10 Cheap Robotics Stocks To Buy

6. PTC Inc. (NASDAQ:PTC)

Number of Hedge Fund Holders In Q1 2024: 42

Price Upside: 18%

Average Share Price Target: $203.44

PTC Inc. (NASDAQ:PTC) is a software company headquartered in Boston, Massachusetts. Its products enable businesses to develop and manufacture products through design, lifestyle management, and other services. The product portfolio positions it to capture orders from existing and new companies that might be seeking to make robotic and automation products. PTC Inc. (NASDAQ:PTC) has already made inroads into the robotics industry, and a couple of years back, it teamed up with another company to develop the world’s first bricklaying robot called Hadrian X. Being a software and services provider also means that PTC Inc. (NASDAQ:PTC) benefits from high margins, which allow it to manage costs during economic turbulence. Additionally, the key to its growth is customer partnerships, and if it successfully delivers, then customers are likely to return to PTC Inc. (NASDAQ:PTC) for future products as well.

Madison Investments mentioned PTC Inc. (NASDAQ:PTC) in its Q1 2024 investor letter. Here is what the fund said:

“PTC was one of our oldest portfolio holdings (~23 years!) and best performing stocks. We made our initial investment in PTC in 2001(in those days the company’s full name was Parametric Technology Corporation) after the dot com crash when the stock had an equity market value of approximately $1billion. We sold our final share near an equity market value of approximately $22billion. When we first initiated the investment position, we saw an attractively valued software company that provided very sticky, difficult to replace design software for engineers in the manufacturing sector. Over that 20-year span, PTC has grown both organically and through strategic M&A into one of the most vital design software engineering platforms in the world. Companies like BMW, Rockwell International, Medtronic, Hitachi, Boeing, Airbus, Volvo, Cannondale, Toyota, and GM all use PTC to design, collaborate and maintain the lifecycle of their franchise products and platforms. This investment illustrates not only the financial potential and opportunity of small cap investing but also our PMV process to identify and capitalize on strategic assets like PTC.”