It's possible, though they've stayed independent for quite a long time, so I would assume that if they were looking to be bought out it would have happened a long time ago. As a result, I view Exponent as an underappreciatd, nicely growing, long-term stock whose price will continue to mirror the organic growth of the company, not one where I'm hoping for an unexpected upside surprise.

In contrast, I'm holding a few small medical device companies (such as SONO and BABY) who I think are potential takeover candidates but where I don't see too much downside if no deal happens.