CGNX Stock Summary and Trading Ideas (Cognex | NASDAQ:CGNX)

Cognex Corp provides machine vision products that help automate manufacturing processes. The firm's products include vision software, vision systems, vision sensors, and ID products. Vision software combines vision tools with a customer's own cameras and peripheral equipment and can help with several vision tasks, including part location, identification, measurement, and robotic guidance. Vision systems combine a camera, processor, and vision software into a single package. Vision sensors deliver simple, low-cost solutions for common vision applications, such as checking the size of parts. ID products read codes that have been applied to items during the manufacturing process. Cognex generates the maximum proportion of its sales in the United States and Europe.

Cognex trades on the NASDAQ stock market under the symbol CGNX.

As of April 30, 2024, CGNX stock price climbed to $41.82 with 554,550 million shares trading.

CGNX has a beta of 1.62, meaning it tends to be more sensitive to market movements. CGNX has a correlation of 0.44 to the broad based SPY ETF.

CGNX has a market cap of $7.19 billion. This is considered a Mid Cap stock.

Last quarter Cognex reported $197 million in Revenue and $.11 earnings per share. This beat revenue expectation by $8 million and exceeded earnings estimates by $.01.

In the last 3 years, CGNX stock traded as high as $92.17 and as low as $34.28.

The top ETF exchange traded funds that CGNX belongs to (by Net Assets): VTI, IJH, VB, VXF, VBK.

CGNX stock has underperformed the market in the last year with a return of -11.7%, while SPY returned +23.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in CGNX shares. However, CGNX has outperformed the market in the last 3 month and 2 week periods, returning +10.3% and +4.7%, while SPY returned +3.2% and +0.2%, respectively. This indicates CGNX has been having a stronger performance recently.

CGNX support price is $40.71 and resistance is $42.11 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CGNX stock will trade within this expected range on the day.