Because the stock for all three of these companies trades at more than 20 times current earnings, shares of ON Semiconductor (NASDAQ: ON), Cognex (NASDAQ: CGNX), and Teledyne Technologies (NYSE: TDY) wouldn't be considered cheap by the usual metrics. Still, all three of these tech stocks have excellent long-term growth prospects that could make their current valuations look very reasonable.

Let's find out more about these three hot stocks.

ON Semiconductor, commonly known as Onsemi, is working toward a future focused on automotive and industrial end markets. Management expects these two segments will combine to contribute 75% of revenues in 2025 compared to 60% in 2021.

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Source Fool.com