Gentex Corporation (GNTX), a supplier of electro-optical products for the global automotive, aerospace and fire protection industries, has announced the acquisition of Guardian Optical Technologies
While Gentex engages in the design, development and supply of digital vision, connected cars, dimmable glass and fire protection products, Guardian provides multi-modal sensor technology designed to provide a comprehensive suite of driver- and cabin-monitoring solutions.
With this deal, Gentex will have access to Guardian’s infrared-sensitive, high-resolution camera technology that combines machine vision, depth perception and micro-vibration detection. It enables monitoring of the driver and the entire vehicle cabin and all its objects and occupants. (See Gentex stock charts on TipRanks)
The Chief Technology Officer of Gentex, Neil Boehm, said, “Our goal is to provide automakers with holistic cabin monitoring solutions, from simple driver monitoring through complete cabin monitoring and machine olfaction.”
“We’re engineering a comprehensive and scalable platform based on robust sensor fusion techniques that will allow us to provide features for today’s vehicles, transitionary vehicles, and completely autonomous mobility solutions,” he added.
Last month, Jefferies analyst David Kelley maintained a Buy rating on the stock and lowered the price target to $39 from $40. The new price target implies upside potential of 25% from current levels.
Based on 5 Buys and 1 Hold, the stock has a Strong Buy consensus rating. The average Gentex price target of $38.50 implies 23.4% upside potential from current levels.
According to TipRanks’ Smart Score rating system, Gentex gets a 7 out of 10, which indicates that the stock is likely to perform in line with market averages.
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