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Cognex (CGNX)

Cognex Corporation designs, develops, manufactures, and markets a wide range of image-based products, which use artificial intelligence (AI) techniques that give them the human-like ability to make decisions on what they see. Cognex products include machine vision systems, machine vision sensors, and barcode readers that are used in factories and distribution centers around the world where they eliminate production and shipping errors.

Company profile

Ticker
CGNX
Exchange
Website
CEO
Robert Willett
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Cognex Asia, Inc. • Cognex Canada, Inc. • Cognex Canada Technology, Inc. • Cognex EnShape GmbH • Cognex Europe, B.V. • Cognex Europe, Inc. • Cognex Foreign Sales Corporation • Cognex Germany, Inc. • Cognex Germany Aachen GmbH • Cognex Goruntu Sistemleri Satis ve Ticaret Limited ...
IRS number
42713778

CGNX stock data

Calendar

2 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jul 22 Apr 22 Dec 21 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 177.05M 177.05M 177.05M 177.05M 177.05M 177.05M
Cash burn (monthly) (no burn) 3.33M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) n/a 4.45M n/a n/a n/a n/a
Cash remaining n/a 172.59M n/a n/a n/a n/a
Runway (months of cash) n/a 51.8 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
4 Aug 22 Joerg Kuechen NQSO Common Stock Grant Acquire A No No 47.95 39,894 1.91M 39,894
12 May 22 Dianne M Parrotte Common Stock Buy Acquire P No No 46 3,000 138K 3,608
9 May 22 John Tseng-Chung Lee RSU Common Stock Grant Acquire A No No 0 3,697 0 3,697
90.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 505 523 -3.4%
Opened positions 61 79 -22.8%
Closed positions 79 74 +6.8%
Increased positions 186 187 -0.5%
Reduced positions 152 155 -1.9%
13F shares Current Prev Q Change
Total value 14.31B 12.04B +18.9%
Total shares 156.37M 154.8M +1.0%
Total puts 89.4K 54K +65.6%
Total calls 165.1K 492.9K -66.5%
Total put/call ratio 0.5 0.1 +394.3%
Largest owners Shares Value Change
BLK Blackrock 19.44M $1.5B +1.2%
Vanguard 15.6M $1.2B -1.1%
BK Bank Of New York Mellon 10.54M $813.16M -1.4%
Brown Capital Management 6.94M $535.22M -5.7%
Alliancebernstein 6.15M $474.13M +3.6%
American Century Companies 5.94M $458.16M +31.5%
STT State Street 5.78M $445.84M +0.8%
TROW T. Rowe Price 5.18M $399.42M +57.9%
ATAC Neuberger Berman 2.71M $209.39M -11.1%
Geode Capital Management 2.47M $190.59M -5.7%
Largest transactions Shares Bought/sold Change
Nordea Investment Management Ab 777.31K -2.57M -76.8%
Fundsmith 1.91M +1.91M NEW
TROW T. Rowe Price 5.18M +1.9M +57.9%
Norges Bank 0 -1.6M EXIT
American Century Companies 5.94M +1.42M +31.5%
William Blair Investment Management 1.26M +1.26M NEW
Fred Alger Management 1.57M -1.25M -44.4%
Nuveen Asset Management 1.65M -556.87K -25.2%
Brown Capital Management 6.94M -415.74K -5.7%
Allspring Global Investments 1.86M +374.41K +25.1%

Financial report summary

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Risks
  • Our primary contract manufacturer experienced a fire at its plant in Indonesia at which Cognex products are manufactured and inventory is stored, which has had, and may continue to have, a negative impact on our business and results of operations.
Management Discussion
  • Certain statements made in this report, as well as oral statements made by the Company from time to time, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Readers can identify these forward-looking statements by our use of the words “expects,” “anticipates,” “estimates,” “believes,” “projects,” “intends,” “plans,” “will,” “may,” “shall,” “could,” “should,” and similar words and other statements of a similar sense. These statements are based on our current estimates and expectations as to prospective events and circumstances, which may or may not be in our control and as to which there can be no firm assurances given. These forward-looking statements, which include statements regarding business and market trends, future financial performance and financial targets, the expected impact of the fire at our primary contract manufacturer's warehouse on our assets, business and results of operations and related insurance recoveries, customer demand and order rates and timing of related revenue, managing supply shortages, delivery lead times, future product mix, research and development activities, sales and marketing activities, new product offerings and product development activities, capital expenditures, investments, liquidity, dividends and stock repurchases, strategic and growth plans, and estimated tax benefits and expenses and other tax matters, involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include: (1) the reliance on key suppliers such as our primary contract manufacturer to manufacture and deliver quality products; (2) delays in the delivery of our products, the failure to meet delivery schedules, and resulting customer dissatisfaction or loss of sales; (3) the inability to obtain, or the delay in obtaining components for our products at reasonable prices; (4) the failure to effectively manage product transitions or accurately forecast customer demand; (5) the inability to manage disruptions to our distribution centers or to our key suppliers; (6) the inability to design and manufacture high-quality products; (7) the impact, duration, and severity of the COVID-19 pandemic, including the availability and effectiveness of vaccines as well as government lockdowns; (8) the loss of, or curtailment of purchases by, large customers in the logistics or consumer electronics industries; (9) information security breaches; (10) the inability to protect our proprietary technology and intellectual property; (11) the inability to attract and retain skilled employees and maintain our unique corporate culture; (12) the technological obsolescence of current products and the inability to develop new products; (13) the failure to properly manage the distribution of products and services, including the management of lead times and delivery dates; (14) the impact of competitive pressures; (15) the challenges in integrating and achieving expected results from acquired businesses; (16) potential disruptions in our business systems; (17) potential impairment charges with respect to our investments or acquired intangible assets; (18) exposure to additional tax liabilities; (19) fluctuations in foreign currency exchange rates and the use of derivative instruments; (20) unfavorable global economic conditions, including high inflation rates; (21) business disruptions from natural or man-made disasters, such as fire, or public health issues; (22) economic, political, and other risks associated with international sales and operations, including the impact of the war in Ukraine; and (23) our involvement in time-consuming and costly litigation. The foregoing list should not be construed as exhaustive and we encourage readers to refer to the detailed discussion of risk factors included in Part I - Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as updated by Part II - Item 1A of this Quarterly Report on Form 10-Q. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation to subsequently revise forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date such statements are made.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: capacity, carrier, center, closure, conjunction, consigned, contrast, contributor, coverage, damage, deemed, destroyed, destroying, dissatisfaction, diversify, experienced, facility, fire, gain, grew, half, increasingly, Indonesia, Indonesian, issuance, job, lost, manner, negative, ongoing, pressure, ramp, read, replenish, replenished, replenishing, resume, resumed, Southborough, speed, stored, suffered, treated, warehouse
Removed: diluted, October, range

Patents

Utility
Machine Vision System and Method with Steerable Mirror
11 Aug 22
Systems and methods are provided for acquiring images of objects using an imaging device and a controllable mirror.
Utility
Forming a Homogenized Illumination Line Which Can Be Imaged As A Low-Speckle Line
28 Jul 22
A system for forming a homogenized illumination line which can be imaged as a low-speckle line is disclosed.
Utility
Systems and Methods for Detecting Motion During 3D Data Reconstruction
21 Jul 22
In some aspects, the techniques described herein relate to systems, methods, and computer readable media for detecting movement in a scene.
Utility
System and method for reduction of drift in a vision system variable lens
12 Jul 22
This invention provides a vision system that is arranged to compensate for optical drift that can occur in certain variable lens assemblies, including, but not limited to, liquid lens arrangements.
Utility
Method for calibrating image capturing sensor consisting of at least one sensor camera, using time coded patterned target
12 Jul 22
A method for calibrating an image capturing sensor including at least one sensor camera using a time coded pattern target including: displaying the target on a flat screen display, displaying a pattern sequence on the display and capturing the pattern sequence by the at least one sensor camera as a sequence of a camera images, performing an association between pixels of the target and captured image points of the camera images for at least one fixed position of the display in space or respectively for at least two different positions of the display in space, performing the calibration through corresponding points, performing a gamma correction wherein a gamma curve of the display is captured and corrected in any position of the display and/or in addition to capturing the pattern sequence in any position of the display by the at least one sensor camera before displaying the target.