Welcome to our dedicated page for Cognex news (Ticker: CGNX), a resource for investors and traders seeking the latest updates and insights on Cognex stock.
Cognex Corporation (NASDAQ: CGNX) is a leading global provider of machine vision products that are used to automate manufacturing processes. Founded in 1981 and headquartered in Natick, Massachusetts, USA, Cognex designs, develops, manufactures, and markets a diverse range of products incorporating cutting-edge machine vision technology. These products include barcode readers, machine vision sensors, and comprehensive machine vision systems, which are utilized extensively in factories, warehouses, and distribution centers worldwide to guide, gauge, inspect, identify, and ensure the quality of items during the manufacturing and distribution processes.
Cognex's product offerings cater to various industrial applications, leveraging advanced vision software that combines vision tools with customer-specific cameras and peripheral equipment to perform tasks such as part location, identification, measurement, and robotic guidance. Their vision systems integrate a camera, processor, and vision software into a single package, while their vision sensors offer cost-effective solutions for common vision applications. Additionally, Cognex's ID products are designed to read codes applied to items during the manufacturing process.
As the undisputed leader in the machine vision industry, Cognex has shipped more than 4.5 million vision-based products, generating over $11 billion in cumulative revenue since its inception. The company has a significant presence across the globe, with offices and distributors throughout North America, Japan, Europe, Asia, and Latin America. Cognex aims to enhance efficiency and quality in high-growth-potential businesses across various industrial end markets.
Recently, Cognex launched the industry's first AI-enabled 3D vision system, the In-Sight® L38 3D Vision System, which combines artificial intelligence with 2D and 3D vision technologies to solve a range of inspection and measurement applications. This innovative system simplifies the configuration of 3D systems and improves the quality and performance of automated inspections.
Despite facing a challenging business environment, Cognex continues to invest in long-term growth initiatives, launching a record number of new products in 2023 and embarking on a multi-year investment in their Emerging Customer initiative. This strategic focus aims to expand their customer base and capitalize on exciting industry trends as growth returns.
For detailed company information, visit Cognex Corporation.
Cognex (NASDAQ: CGNX) has announced that Rob Willett, President and CEO, will deliver a presentation at the Baird 2024 Global Industrial Conference. The presentation is scheduled for Thursday, November 14, 2024, at 10:05 a.m. EST. Interested parties can access both real-time audio broadcast and archived recordings of the presentation through the Events & Presentations section on Cognex's Investor Relations website.
Cognex (NASDAQ: CGNX) has announced a quarterly cash dividend increase. The Board of Directors declared a dividend of $0.08 per share, representing a 7% increase from the previous quarter's $0.075 per share. The dividend will be paid on November 29, 2024 to shareholders of record as of November 14, 2024.
Cognex (CGNX) reported Q3 2024 financial results with revenue of $235 million, up 19% year-over-year, with 12% contribution from Moritex acquisition. Net income reached $30 million, increasing 56% from Q3-23. The company maintained strong financial position with $607 million in cash and no debt.
Revenue growth was driven by strong performance in Logistics and Semiconductor sectors, while factory automation remained soft, particularly in Automotive. Q3 operating cash flow and free cash flow reached highest levels since Q4-2022. The company expects Q4 2024 revenue between $210-230 million, with adjusted EBITDA margin of 14-17%.
Cognex (NASDAQ: CGNX) has announced the release date for its third quarter 2024 earnings. The company will disclose its financial results on Wednesday, October 30, 2024, after the market closes. Following this, Cognex will host a conference call on Thursday, October 31, 2024, at 8:30 a.m. EDT to discuss the quarterly performance.
Investors and interested parties can access the conference call and a subsequent replay through the Cognex Investor Relations website. For those wishing to participate via telephone, the call-in numbers are (877) 704-4573 for domestic callers and (201) 389-0911 for international participants.
Cognex (NASDAQ: CGNX) has launched an AI-powered counting tool for its In-Sight SnAPP vision sensors, aimed at enhancing manufacturing efficiency. This new tool simplifies and automates assembly verification and quantity checks, which were previously error-prone and time-consuming. It offers advanced capabilities to count objects of varying sizes, shapes, and contrasts without complex programming.
The tool is beneficial across numerous industries, enabling food and beverage producers to count products in packaging, pharmaceutical companies to verify vaccine vials or blister packs, and automotive manufacturers to count EV battery modules. The AI technology allows for easy setup and operation, making automation accessible to operators of all skill levels. This innovation is expected to enhance quality control and operational efficiency for manufacturers globally.
Cognex (NASDAQ: CGNX) reported Q2 2024 financial results with revenue of $239 million, down 1% year-over-year but up 14% sequentially. Net income was $36 million, a 37% decrease from Q2 2023. The company saw strong growth in Logistics and Semiconductor end markets, while factory automation remained soft. Adjusted gross margin was 70.3%, down from 74.3% in Q2 2023. Cognex maintained a strong financial position with $555 million in cash and investments and no debt. For Q3 2024, Cognex expects revenue between $225-$240 million, with adjusted gross margin slightly below 70% and adjusted EBITDA margin between 16-19%.
Cognex (NASDAQ: CGNX) has announced a quarterly cash dividend of $0.075 per share. The dividend will be payable on August 29, 2024 to shareholders of record at the close of business on August 15, 2024. This declaration by the company's Board of Directors demonstrates Cognex's commitment to returning value to its shareholders through regular dividend payments.
Cognex (NASDAQ: CGNX) will report its second quarter 2024 earnings on July 31, 2024, after the market closes.
The company will hold a conference call to discuss the results on August 1, 2024, at 8:30 a.m. Eastern Daylight Time (EDT).
Details for accessing the call and a subsequent replay are available on the Cognex Investor Relations website. Investors can join the live call by dialing (877) 704-4573 or (201) 389-0911 for international participants.
Cognex reported financial results for the first quarter of 2024, showcasing a stable business environment despite a year-on-year decline in revenue. The company launched an AI-enabled 3D vision system and is progressing on strategic initiatives to capitalize on industry trends.
Revenue for Q1-24 was $211 million, up 5% from Q1-23. Operating income decreased by 36%, and net income per diluted share dropped by 53% year-on-year. Cognex's financial position remains strong with $557 million in cash and investments and no debt.
Cognex (NASDAQ: CGNX) declared a quarterly cash dividend of $0.075 per share, payable on May 30, 2024, to shareholders of record on May 16, 2024. Cognex is a global leader in machine vision products, aiding automation in manufacturing and distribution.
FAQ
What is the current stock price of Cognex (CGNX)?
What is the market cap of Cognex (CGNX)?
What does Cognex Corporation specialize in?
What types of products does Cognex offer?
Where is Cognex Corporation headquartered?
How many vision-based products has Cognex shipped?
What is the In-Sight® L38 3D Vision System?
What markets does Cognex primarily serve?
What recent initiatives has Cognex undertaken?
What is the financial outlook for Cognex Corporation?
How can investors get more information about Cognex?
Who is the CFO of Cognex Corporation?
