Rogers Corporation (NYSE: ROG) saw its stock price surge 5.18% in intraday trading on Wednesday, buoyed by better-than-expected first-quarter results and a price target increase from a key analyst.
The advanced materials company reported Q1 2025 sales of $190.5 million, slightly exceeding the midpoint of its guidance. Despite challenges in certain markets, Rogers secured new design wins in key areas, including silicone technology for inverters in industrial, renewable energy, and EV/HEV markets. The company also highlighted its progress in expanding its curamik opportunity pipeline in China.
Adding to the positive sentiment, B. Riley Securities raised its price target on Rogers to $85 from $80, while maintaining a Buy rating on the stock. This vote of confidence from a respected analyst firm likely contributed to the stock's upward momentum.
Rogers' management emphasized its focus on cost-saving measures, expecting net savings of $25 million in 2025 with run-rate savings of $32 million. The company also reiterated its commitment to navigating the uncertain tariff environment, implementing mitigation strategies to minimize potential impacts on its business.
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