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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.

CGNX stock data

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Calendar

6 May 21
2 Aug 21
31 Dec 21
Quarter (USD)
Apr 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

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) 242.69M 242.69M 242.69M 242.69M 242.69M 242.69M
Cash burn (monthly) 8.8M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 34.9M n/a n/a n/a n/a n/a
Cash remaining 207.79M n/a n/a n/a n/a n/a
Runway (months of cash) 23.6 n/a 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
11 Jun 21 Dianne M Parrotte Common Stock Sell Dispose S No No 80 7,167 573.36K 0
11 Jun 21 Dianne M Parrotte Common Stock Option exercise Aquire M No No 45.06 7,167 322.95K 7,167
11 Jun 21 Dianne M Parrotte Common Stock Sell Dispose S No No 80 2,500 200K 0
11 Jun 21 Dianne M Parrotte Common Stock Option exercise Aquire M No No 51.49 2,500 128.73K 2,500
11 Jun 21 Dianne M Parrotte NQSO Common Stock Option exercise Dispose M No No 51.49 2,500 128.73K 18,100
11 Jun 21 Dianne M Parrotte NQSO Common Stock Option exercise Dispose M No No 45.06 7,167 322.95K 7,500
1 Jun 21 Dianne M Parrotte Common Stock Sell Dispose S No No 80.0344 333 26.65K 0
1 Jun 21 Dianne M Parrotte Common Stock Option exercise Aquire M No No 45.06 333 15K 333
1 Jun 21 Dianne M Parrotte NQSO Common Stock Option exercise Dispose M No No 45.06 333 15K 14,667
18 Mar 21 Jerry A. Schneider Common Stock Sell Dispose S No No 82.2583 5,000 411.29K 0

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

87.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 511 513 -0.4%
Opened positions 59 88 -33.0%
Closed positions 61 39 +56.4%
Increased positions 189 175 +8.0%
Reduced positions 171 163 +4.9%
13F shares
Current Prev Q Change
Total value 14.69B 12.79B +14.8%
Total shares 153.57M 159.34M -3.6%
Total puts 131.3K 66.4K +97.7%
Total calls 204.1K 142.4K +43.3%
Total put/call ratio 0.6 0.5 +38.0%
Largest owners
Shares Value Change
BLK Blackrock 18.95M $1.57B +2.1%
Vanguard 15.79M $1.31B +1.9%
BK Bank Of New York Mellon 12.22M $1.01B +1.3%
Brown Capital Management 8.63M $715.81M -4.8%
American Century Companies 5.32M $441.67M +0.3%
STT State Street 5.25M $435.68M -1.3%
Alliancebernstein 4.88M $404.7M +4.5%
TROW T. Rowe Price 3.39M $281.11M -44.7%
Fred Alger Management 3.28M $272.24M +23.5%
ATAC Neuberger Berman 2.77M $229.14M -1.6%
Largest transactions
Shares Bought/sold Change
TROW T. Rowe Price 3.39M -2.73M -44.7%
JHG Janus Henderson 519.91K -2.1M -80.2%
Carillon Tower Advisers 0 -1.98M EXIT
Norges Bank 0 -1.92M EXIT
Select Equity 655.55K +655.55K NEW
Nuveen Asset Management 1.89M +649.32K +52.5%
Fred Alger Management 3.28M +623.43K +23.5%
Lord, Abbett & Co. 1.61M +484.58K +43.0%
1832 Asset Management 0 -446.3K EXIT
FSZ Fiera Capital 583.99K -435.59K -42.7%

Financial report summary

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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
  • 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, the expected impact of the COVID-19 pandemic on our assets, business and results of operations, customer order rates and timing of related revenue, future product mix, restructuring and other cost-savings initiatives, research and development activities, new product offerings, capital expenditures, investments, acquisitions, liquidity, dividends and stock repurchases, strategic 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 impact, duration, and severity of the COVID-19 pandemic; (2) potential disruptions to our business due to restructuring activities; (3) the loss of, or curtailment of purchases by, large customers in the consumer electronics and logistics industries; (4) the reliance on revenue from the automotive industry; (5) the reliance on key suppliers to manufacture and deliver critical components for our products and potential disruptions to the supply chain; (6) the failure to effectively manage product transitions or accurately forecast customer demand; (7) the inability to design and manufacture high-quality products; (8) the inability to attract and retain skilled employees and maintain our unique corporate culture; (9) the failure to effectively manage our growth; (10) the inability to achieve growth in revenue and profits from the logistics industry; (11) the technological obsolescence of current products and the inability to develop new products; (12) the failure to properly manage the distribution of products and services; (13) the impact of competitive pressures; (14) the challenges in integrating and achieving expected results from acquired businesses; (15) potential disruptions in our business systems; (16) information security breaches; (17) the inability to protect our proprietary technology and intellectual property; (18) potential impairment charges with respect to our investments or acquired intangible assets; (19) exposure to additional tax liabilities; (20) fluctuations in foreign currency exchange rates and the use of derivative instruments; (21) our involvement in time-consuming and costly litigation; (22) unfavorable global economic conditions; and (23) economic, political, and other risks associated with international sales and operations. 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, 2020, 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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Patents

APP
Utility
System and Method for Finding and Classifying Lines In an Image with a Vision System
29 Jul 21
This invention provides a system and method for finding line features in an image that allows multiple lines to be efficiently and accurately identified and characterized.
APP
Utility
Systems and Method for Vision Inspection with Multiple Types of Light
29 Jul 21
Systems and methods are provided for acquiring images of objects.
GRANT
Utility
Calibration and operation of vision-based manipulation systems
27 Jul 21
A vision-based manipulations system can be configured for, and can be operated with methods including, performing hand-eye calibrations at multiple workstations of the system, performing a cross-station calibration for the system, and determining relationships between the hand-eye calibrations and the cross-station calibration.
GRANT
Utility
Systems, methods, and computer-readable storage media for determining saturation data for a temporal pixel
27 Jul 21
In some aspects, the techniques described herein relate to systems, methods, and computer readable media for generating, based on a set of images, a temporal pixel image comprising a set of temporal pixels, where each temporal pixel in the set of temporal pixels comprises a set of pixel values at an associated position from each image of the set of images.
GRANT
Utility
Calibration for vision system
27 Jul 21
A vision system capable of performing run-time 3D calibration includes a mount configured to hold an object, the mount including a 3D calibration structure; a camera; a motion stage coupled with the mount or the camera; and a computing device configured to perform operations including: acquiring images from the camera when the mount is in respective predetermined orientations relative to the camera, each of the acquired images including a representation of at least a portion of the object and at least a portion of the 3D calibration structure that are concurrently in a field of view of the camera; performing at least an adjustment of a 3D calibration for each of the acquired images based on information relating to the 3D calibration structure as imaged in the acquired images; and determining 3D positions, dimensions or both of one or more features of the object.