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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

11 Feb 21
13 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 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) 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

Beta Read what these cash burn values mean

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

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 Prev Q Change
Total holders 511 464 +10.1%
Opened positions 86 59 +45.8%
Closed positions 39 48 -18.8%
Increased positions 175 148 +18.2%
Reduced positions 163 168 -3.0%
13F shares
Current Prev Q Change
Total value 12.8B 10.28B +24.5%
Total shares 159.43M 157.97M +0.9%
Total puts 66.4K 134.7K -50.7%
Total calls 142.4K 173.7K -18.0%
Total put/call ratio 0.5 0.8 -39.9%
Largest owners
Shares Value Change
BLK Blackrock 18.56M $1.49B +6.7%
Vanguard 15.5M $1.24B +1.3%
BK Bank Of New York Mellon 12.07M $968.94M +0.9%
Brown Capital Management 9.06M $727.19M -2.3%
TROW T. Rowe Price 6.12M $491.46M -6.2%
STT State Street 5.32M $426.83M -0.4%
American Century Companies 5.31M $426.13M +0.4%
Alliancebernstein 4.67M $374.69M +4.7%
Artisan Partners Limited Partnership 3.04M $244.18M -18.5%
ATAC Neuberger Berman 2.81M $225.51M +2.9%
Largest transactions
Shares Bought/sold Change
JHG Janus Henderson 2.62M -2.24M -46.1%
Norges Bank 1.92M +1.92M NEW
Carillon Tower Advisers 1.98M +1.32M +199.0%
BLK Blackrock 18.56M +1.17M +6.7%
Schroder Investment Management 1.18M +693.39K +141.5%
Artisan Partners Limited Partnership 3.04M -691.88K -18.5%
Nuveen Asset Management 1.32M +661.76K +100.4%
Nordea Investment Management Ab 2.31M +639.15K +38.3%
Rockefeller Capital Management 24.12K -533.44K -95.7%
CMTDF Sumitomo Mitsui Trust 1.74M -524.96K -23.2%

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
  • 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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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.