Cognex Could Time Travel Back To A Lower Valuation
Mon, Nov. 7, 9:45 AM
- From Underperform prior.
- Price target increased from $55 to $58.
- Cognex (NASDAQ:CGNX) +5.4% to $53.53 early.
Mon, Oct. 31, 5:39 PM
Mon, Oct. 31, 4:28 PM
Mon, Oct. 31, 4:10 PM
Sun, Oct. 30, 5:35 PM
Tue, Aug. 2, 3:02 PM
Tue, Aug. 2, 2:13 PM
- Cognex (CGNX +12.4%) posted healthy Q2 results and declared a $0.075 dividend after market close yesterday.
- Needham & Company has subsequently reissued a Buy rating while raising its price target to $55 from $42 (current price $50.74). Firm analyst James Ricchiuti cites revenue above the high end of guidance, upside Q3 guidance, confidence in the company's consumer electronics business, strong logistics demand and continued automotive strength in his outlook.
- Additionally notes absence of Q4 guidance (quarter-out guidance is usually provided) and expects upcoming seasonal logistics and consumer electronics weakness. Maintains the company has further growth potential but would not rule out a near-term share price stabilization given the sharp upward movement since yesterday's close.
- Earnings call transcript
- Press release
Tue, Aug. 2, 9:17 AM
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Tue, Jun. 14, 1:07 PM
- "While we continue to expect CGNX to benefit from growing deployment of machine vision in factory automation and logistics, we do not see catalysts for substantial upside to our estimates for the remainder of 2016," writes Canaccord's Bobby Burleson, downgrading Cognex (CGNX -4.5%) to Hold. His target remains at $45.
- Burleson: "With valuation near historical peaks, the stock is likely to be range bound the balance of the year. Signs of meaningful traction in mobile terminals (new product released last quarter), combined with a more diversified base of large orders, especially for consumer electronics, could make us more constructive on 2017 estimates and prompt us to revisit our rating."
- The industrial machine vision hardware provider is still up 24% YTD. Shares go for 28x a 2017 EPS consensus of $1.48.
Mon, May 2, 5:38 PM
Mon, May 2, 4:46 PM
- Cognex Corporation (NASDAQ:CGNX) declares $0.075/share quarterly dividend, 7.1% increase from prior dividend of $0.07.
- Forward yield 0.85%
- Payable June 17; for shareholders of record June 3; ex-div June 1.
Mon, May 2, 4:37 PM
- Cognex (NASDAQ:CGNX) has moved up 5.8% after hours following its Q1 beat and strong guidance for Q2.
- Revenues fell 5% with lower revenue from consumer electronics, which should be made up in the second quarter.
- The company's guiding to Q2 revenues of $135M-$140M, vs. $129.8M expected, due to some large orders it expects from consumer electronics companies -- which should last into Q3 as well, compared to last year when the majority were recognized in Q2.
- It also expects gross margin in the mid- to high-70% range and effective tax rate of about 18%.
- Research, Development & Engineers expenses were up 21% Y/y with new investments and outsourced engineering, but SG&A expenses fell 4%.
- Conference call to come at 5 p.m. ET.