CGNX Cognex

Cognex Corporation is an American manufacturer of machine vision systems, software and sensors used in automated manufacturing to inspect and identify parts, detect defects, verify product assembly, and guide assembly robots. Cognex is headquartered in Natick, Massachusetts, USA and has offices in more than 20 countries. Cognex began exploring commercial applications of machine vision in the early 1980s.
Company profile
Ticker
CGNX
Exchange
Website
CEO
Robert Willett
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Fortive • Roper • Ametek • Sensata Technologies Holding • Keysight • Danaher • MKS Instruments • Rudolph • Hurco Companies • Sypris Solutions ...
SEC CIK
Corporate docs
IRS number
42713778
CGNX stock data
()
News
Cowen & Co. Maintains Outperform on Cognex, Raises Price Target to $105
12 Feb 21
Stocks That Hit 52-Week Highs On Friday
12 Feb 21
Why Is It Moving? Analyzing The Upward Movement in Cognex's Stock Today
12 Feb 21
Morgan Stanley Maintains Underweight on Cognex, Raises Price Target to $68
12 Feb 21
Raymond James Maintains Outperform on Cognex, Raises Price Target to $100
12 Feb 21
Press releases
Calendar
11 Feb 21
13 Apr 21
31 Dec 21
Financial summary
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Dec 20 | Sep 20 | Jun 20 | Mar 20 | |
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Dec 20 | Dec 19 | Dec 18 | Dec 17 | |
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Financial data from Cognex earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 269.07M | 269.07M | 269.07M | 269.07M | 269.07M | 269.07M |
Cash burn (monthly) | 9.76M | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | 33.52M | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 235.56M | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 24.1 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
18 Mar 21 | Jerry A. Schneider | Common Stock | Sell | Dispose S | No | No | 82.2583 | 5,000 | 411.29K | 0 |
18 Mar 21 | Jerry A. Schneider | Common Stock | Option exercise | Aquire M | No | No | 38.39 | 5,000 | 191.95K | 5,000 |
18 Mar 21 | Jerry A. Schneider | NQSO Common Stock | Option exercise | Dispose M | No | No | 38.39 | 5,000 | 191.95K | 21,000 |
2 Mar 21 | Banucci Eugene G | Common Stock | Option exercise | Aquire M | No | No | 38.39 | 6,500 | 249.54K | 41,900 |
2 Mar 21 | Banucci Eugene G | Common Stock | Option exercise | Aquire M | No | No | 56.44 | 2,600 | 146.74K | 35,400 |
2 Mar 21 | Banucci Eugene G | Common Stock | Option exercise | Aquire M | No | No | 51.49 | 5,200 | 267.75K | 32,800 |
2 Mar 21 | Banucci Eugene G | Common Stock | Option exercise | Aquire M | No | No | 50.94 | 4,600 | 234.32K | 27,600 |
2 Mar 21 | Banucci Eugene G | NQSO Common Stock | Option exercise | Dispose M | No | No | 56.44 | 2,600 | 146.74K | 5,200 |
2 Mar 21 | Banucci Eugene G | NQSO Common Stock | Option exercise | Dispose M | No | No | 51.49 | 5,200 | 267.75K | 15,600 |
2 Mar 21 | Banucci Eugene G | NQSO Common Stock | Option exercise | Dispose M | No | No | 50.94 | 4,600 | 234.32K | 18,400 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
90.6% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 511 |
Opened positions | 86 |
Closed positions | 39 |
Increased positions | 175 |
Reduced positions | 163 |
13F shares |
Current |
---|---|
Total value | 12.8B |
Total shares | 159.43M |
Total puts | 66.4K |
Total calls | 142.4K |
Total put/call ratio | 0.5 |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 18.56M | $1.49B |
Vanguard | 15.5M | $1.24B |
BK Bank Of New York Mellon | 12.07M | $968.94M |
Brown Capital Management | 9.06M | $727.19M |
TROW T. Rowe Price | 6.12M | $491.46M |
STT State Street | 5.32M | $426.83M |
American Century Companies | 5.31M | $426.13M |
Alliancebernstein | 4.67M | $374.69M |
Artisan Partners Limited Partnership | 3.04M | $244.18M |
ATAC Neuberger Berman | 2.81M | $225.51M |
Financial report summary
?Risks
- Our business has been, and is expected to continue to be, adversely affected by the COVID-19 pandemic.
- Our restructuring activities may result in disruption to our business.
- The loss of, or significant curtailment of purchases by, two large customers could have an adverse effect on our business.
- A continued downturn in the automotive industry may further adversely affect our business.
- The failure of a key supplier to deliver quality product in a timely manner or our inability to obtain components for our products could adversely affect our operating results.
- Our failure to effectively manage product transitions or accurately forecast customer demand could result in excess or obsolete inventory and resulting charges.
- Our products may contain design or manufacturing defects, which could result in reduced demand, significant delays, or substantial costs.
- If we fail to attract and retain key talent and maintain our unique corporate culture, our business and operating results could suffer.
- If we fail to effectively manage our growth, our business and operating results could suffer.
- Our inability to achieve growth in revenue and profits from our logistics business may negatively impact our operating results.
- Our failure to introduce new products in a successful and timely manner could result in the loss of our market share and a decrease in our revenues and profits.
- Our failure to properly manage the distribution of our products and services could result in the loss of revenues and profits.
- Increased competition may result in decreased demand or prices for our products and services.
- Implementation of our acquisition strategy may not be successful, which could affect our ability to increase our revenue or profitability and result in the impairment of acquired intangible assets.
- Business system disruptions may adversely affect our business.
- Information security breaches may adversely affect our business.
- If we fail to successfully protect our intellectual property, our competitive position and operating results could suffer.
- We are at risk for impairment charges with respect to our investments or acquired intangible assets, which could have a material adverse effect on our results of operations.
- We may have additional tax liabilities, which could adversely affect our operating results and financial condition.
- Fluctuations in foreign currency exchange rates and the use of derivative instruments to hedge these exposures could adversely affect our reported results, liquidity, and competitive position.
- Unfavorable global economic conditions may negatively impact our operating results.
- Economic, political, and other risks associated with international sales and operations could adversely affect our business and operating results.
- Our Company may be subject to time-consuming and costly litigation.
Management Discussion
- Revenue for the year ended December 31, 2020 was $811,020,000 compared to $725,625,000 for the prior year, representing an increase of 12%. The increase was due largely to higher revenue from customers in the consumer electronics and logistics industries, which were our two largest markets in 2020. It appears that manufacturers of electronics products and ecommerce providers in the logistics industry both benefited from the "stay-at-home" conditions that arose from the COVID-19 pandemic in 2020. Revenue from customers in the consumer electronics and logistics industries increased by approximately 30% and 40%, respectively, from the prior year, and a significant portion of this growth came from large customers in these industries. Our total revenue and quarterly timing of revenue is impacted by the purchasing cycles of these large customers.
Content analysis
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Readability |
H.S. sophomore Avg
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accrue, addressed, AG, airbag, aircraft, analyzing, answer, Apple, AQSense, assembled, assertion, assure, attrition, Babson, backlog, bad, baggage, broaden, Bruce, budgeted, capable, channel, Chiaro, collaborate, collect, collecting, combining, commensurate, configuring, conflict, consistency, contingency, Controller, correct, correcting, correctly, counsel, Curran, deal, decreasing, degreed, demanding, designating, desired, device, dictate, discussed, distinguish, easily, effected, element, eliminate, embraced, exact, exert, eye, eyesight, feedback, finalized, flexible, formally, fulfilling, gift, great, hired, holdback, holding, increasing, indispensable, ineffective, innovate, inquire, interface, Japan, John, Keyence, leasing, linking, lose, marked, matrix, medical, milestone, MX, object, objective, Omron, opening, opposed, orientation, origin, output, partial, partnership, penetrate, pharmaceutical, played, positioning, power, predominant, processed, produce, produced, programmed, prospectively, protecting, rating, reached, reclassifying, recover, register, repatriated, resident, response, reviewed, Revolution, Robinson, robot, rugged, sector, semiconductor, sequence, serial, servicemark, ship, Sick, sight, small, straight, Street, supportable, supporting, surface, surpassed, Switzerland, territorial, Today, tracked, ultimately, usage, variability, Wall, Web
Financial reports
10-K
2020 FY
Annual report
11 Feb 21
10-Q
2020 Q3
Quarterly report
28 Oct 20
10-Q
2020 Q2
Quarterly report
29 Jul 20
10-Q
2020 Q1
Quarterly report
27 Apr 20
10-K
2019 FY
Annual report
13 Feb 20
10-Q
2019 Q3
Quarterly report
28 Oct 19
10-Q
2019 Q2
Quarterly report
29 Jul 19
10-Q
2019 Q1
Quarterly report
29 Apr 19
10-K
2018 FY
Annual report
14 Feb 19
10-Q
2018 Q3
Quarterly report
29 Oct 18
Current reports
8-K
Cognex Reports Record Fourth Quarter and Full Year Revenue for 2020
11 Feb 21
8-K
Departure of Directors or Certain Officers
7 Dec 20
8-K
Other Events
3 Dec 20
8-K
Results of Operations and Financial Condition
28 Oct 20
8-K
Results of Operations and Financial Condition
29 Jul 20
8-K/A
Cost Associated with Exit or Disposal Activities
29 Jul 20
8-K
Cost Associated with Exit or Disposal Activities
28 May 20
8-K
Results of Operations and Financial Condition
27 Apr 20
8-K
Submission of Matters to a Vote of Security Holders
24 Apr 20
8-K
Other Events
12 Mar 20
Registration and prospectus
S-8 POS
Registration of securities for employees (post-effective amendment)
7 May 18
S-8
Registration of securities for employees
7 May 18
S-8
Registration of securities for employees
3 Aug 15
S-8 POS
Registration of securities for employees (post-effective amendment)
9 Feb 11
SC TO-I/A
Issuer tender offer statement (amended)
16 Dec 09
SC TO-I
Issuer tender offer statement
15 Nov 09
8-A12B
Registration of securities on exchange
4 Dec 08
S-8
Registration of securities for employees
17 Apr 08
S-8
Registration of securities for employees
20 Jul 05
S-8
Registration of securities for employees
23 Oct 02
Proxies
DEFA14A
Additional proxy soliciting materials
23 Mar 21
DEF 14A
Definitive proxy
23 Mar 21
DEFA14A
Additional proxy soliciting materials
13 Mar 20
DEF 14A
Definitive proxy
13 Mar 20
DEFA14A
Additional proxy soliciting materials
13 Mar 19
DEF 14A
Definitive proxy
13 Mar 19
DEFA14A
Additional proxy soliciting materials
15 Mar 18
DEF 14A
Definitive proxy
13 Mar 18
PRE 14A
Preliminary proxy
26 Feb 18
DEF 14A
Definitive proxy
14 Mar 17
Other
SD
Conflict minerals disclosure
22 May 20
SD
Conflict minerals disclosure
24 May 19
SD
Conflict minerals disclosure
25 May 18
SD
Conflict minerals disclosure
29 May 17
UPLOAD
Letter from SEC
28 Jul 16
CORRESP
Correspondence with SEC
26 Jul 16
CORRESP
Correspondence with SEC
4 Jul 16
UPLOAD
Letter from SEC
16 Jun 16
CORRESP
Correspondence with SEC
1 Jun 16
SD
Conflict minerals disclosure
19 May 16
Ownership
4
COGNEX / Jerry A. Schneider ownership change
22 Mar 21
4
COGNEX / EUGENE G BANUCCI ownership change
3 Mar 21
4
COGNEX / Carl Gerst ownership change
24 Feb 21
4
COGNEX / DIANNE M PARROTTE ownership change
23 Feb 21
4
COGNEX / ANTHONY SUN ownership change
18 Feb 21
4
COGNEX / DIANNE M PARROTTE ownership change
18 Feb 21
4
COGNEX / Sachin Lawande ownership change
18 Feb 21
4
COGNEX / THEODOR KRANTZ ownership change
18 Feb 21
4
COGNEX / PATRICK ALIAS ownership change
18 Feb 21
4
COGNEX / Paul Todgham ownership change
18 Feb 21
Patents
APP
Utility
System and Method for Reduction of Drift In a Vision System Variable Lens
8 Apr 21
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.
GRANT
Utility
Optical illumination for status indication
6 Apr 21
An illumination system is provided for an optical system that includes an imaging device for acquiring an image of a target, for decoding of a symbol or other analysis.
GRANT
Utility
Method and apparatus for performing different decoding algorithms in different locations
6 Apr 21
A method and apparatus for decoding codes applied to objects for use with an image sensor that includes a two dimensional field of view (FOV), the method comprising the steps of providing a processor programmed to perform the steps of obtaining an image of the FOV and applying different decode algorithms to code candidates in the obtained image to attempt to decode the code candidates wherein the decode algorithm applied to each candidate is a function of the location of the code candidate in the FOV.
APP
Utility
Optical Imaging Devices and Methods
1 Apr 21
The present invention relates to optical imaging devices and methods for reading optical codes.
APP
Utility
Methods and Apparatus for Optimizing Image Acquisition of Objects Subject to Illumination Patterns
25 Mar 21
The techniques described herein relate to methods, apparatus, and computer readable media configured to determine parameters for image acquisition.
Transcripts
2020 Q4
Earnings call transcript
12 Feb 21
2020 Q3
Earnings call transcript
28 Oct 20
2020 Q2
Earnings call transcript
29 Jul 20
2020 Q1
Earnings call transcript
27 Apr 20
2019 Q4
Earnings call transcript
13 Feb 20
2019 Q3
Earnings call transcript
28 Oct 19
2019 Q2
Earnings call transcript
29 Jul 19
2019 Q1
Earnings call transcript
29 Apr 19
2018 Q4
Earnings call transcript
14 Feb 19
2018 Q3
Earnings call transcript
29 Oct 18
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