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Cognex Corporation - CGNX STOCK NEWS

Welcome to our dedicated page for Cognex Corporation news (Ticker: CGNX), a resource for investors and traders seeking the latest updates and insights on Cognex Corporation stock.

Cognex Corporation (NASDAQ: CGNX) is a leading global provider of machine vision products that are used to automate manufacturing processes. Founded in 1981 and headquartered in Natick, Massachusetts, USA, Cognex designs, develops, manufactures, and markets a diverse range of products incorporating cutting-edge machine vision technology. These products include barcode readers, machine vision sensors, and comprehensive machine vision systems, which are utilized extensively in factories, warehouses, and distribution centers worldwide to guide, gauge, inspect, identify, and ensure the quality of items during the manufacturing and distribution processes.

Cognex's product offerings cater to various industrial applications, leveraging advanced vision software that combines vision tools with customer-specific cameras and peripheral equipment to perform tasks such as part location, identification, measurement, and robotic guidance. Their vision systems integrate a camera, processor, and vision software into a single package, while their vision sensors offer cost-effective solutions for common vision applications. Additionally, Cognex's ID products are designed to read codes applied to items during the manufacturing process.

As the undisputed leader in the machine vision industry, Cognex has shipped more than 4.5 million vision-based products, generating over $11 billion in cumulative revenue since its inception. The company has a significant presence across the globe, with offices and distributors throughout North America, Japan, Europe, Asia, and Latin America. Cognex aims to enhance efficiency and quality in high-growth-potential businesses across various industrial end markets.

Recently, Cognex launched the industry's first AI-enabled 3D vision system, the In-Sight® L38 3D Vision System, which combines artificial intelligence with 2D and 3D vision technologies to solve a range of inspection and measurement applications. This innovative system simplifies the configuration of 3D systems and improves the quality and performance of automated inspections.

Despite facing a challenging business environment, Cognex continues to invest in long-term growth initiatives, launching a record number of new products in 2023 and embarking on a multi-year investment in their Emerging Customer initiative. This strategic focus aims to expand their customer base and capitalize on exciting industry trends as growth returns.

For detailed company information, visit Cognex Corporation.

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Cognex (NASDAQ: CGNX) will report its second quarter 2024 earnings on July 31, 2024, after the market closes.

The company will hold a conference call to discuss the results on August 1, 2024, at 8:30 a.m. Eastern Daylight Time (EDT).

Details for accessing the call and a subsequent replay are available on the Cognex Investor Relations website. Investors can join the live call by dialing (877) 704-4573 or (201) 389-0911 for international participants.

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Cognex reported financial results for the first quarter of 2024, showcasing a stable business environment despite a year-on-year decline in revenue. The company launched an AI-enabled 3D vision system and is progressing on strategic initiatives to capitalize on industry trends.

Revenue for Q1-24 was $211 million, up 5% from Q1-23. Operating income decreased by 36%, and net income per diluted share dropped by 53% year-on-year. Cognex's financial position remains strong with $557 million in cash and investments and no debt.

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Cognex (NASDAQ: CGNX) declared a quarterly cash dividend of $0.075 per share, payable on May 30, 2024, to shareholders of record on May 16, 2024. Cognex is a global leader in machine vision products, aiding automation in manufacturing and distribution.

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Cognex announced the appointment of Dennis Fehr as Senior Vice President of Finance and Chief Financial Officer, effective May 3, 2024. Fehr brings over 20 years of global experience across manufacturing, technology, and energy industries. He will lead Cognex's global finance and information technology organizations, reporting to the President and CEO, Robert J. Willett.

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Cognex announces that more customers are achieving increased productivity and efficiency with AI-powered machine vision solutions. Customers like Schneider Electric are implementing Cognex systems for smart factories, with AI playing a important role in speeding up installation processes. Other companies, such as Federal Package, Ansomat, and SDI, are also benefiting from AI-powered edge learning technology. Cognex continues to support its customers in achieving success through AI-driven automation projects.
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Cognex (CGNX) will release earnings for Q1 2024 on May 2, 2024, before the market opens. A conference call will follow at 8:30 a.m. EDT. Investors can access the call via telephone or online. The company aims to align the release with Form 10-Q filing for Q1 2024.
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Cognex introduces the In-Sight L38 3D Vision System, combining AI, 2D, and 3D technologies for efficient manufacturing automation inspections. The system simplifies training, detects variable features, and offers reliable results. With embedded AI technology, the system streamlines configuration and application development, requiring minimal labeled images. The system's speckle-free laser optics and high-powered laser enhance image quality and speed, setting new standards in 3D inspection.
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Cognex introduces the 380 Modular Vision Tunnel, featuring the DataMan 380 barcode reader, offering high throughput and traceability for warehouse automation. The tunnel design maximizes efficiency with AI-assisted decoding and achieves over 99% read rate with minimal readers per tunnel.
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Cognex Corporation (CGNX) CEO to present at the 45th Annual Raymond James Institutional Investors Conference on March 5, 2024, offering real-time audio broadcast and archived recording for users.
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Cognex Corporation (CGNX) declares a quarterly cash dividend of $0.075 per share, payable on March 14, 2024, to shareholders of record as of February 29, 2024.
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FAQ

What does Cognex Corporation specialize in?

Cognex Corporation specializes in designing, developing, manufacturing, and marketing machine vision products used to automate manufacturing processes.

What types of products does Cognex offer?

Cognex offers barcode readers, machine vision sensors, vision systems, and ID products that help guide, gauge, inspect, identify, and ensure quality in manufacturing and distribution processes.

Where is Cognex Corporation headquartered?

Cognex Corporation is headquartered in Natick, Massachusetts, USA.

How many vision-based products has Cognex shipped?

Cognex has shipped over 4.5 million vision-based products since its founding in 1981.

What is the In-Sight® L38 3D Vision System?

The In-Sight® L38 3D Vision System is an AI-enabled 3D vision system that combines AI, 2D, and 3D vision technologies for inspection and measurement applications.

What markets does Cognex primarily serve?

Cognex serves various industrial end markets, including automotive, consumer electronics, logistics, and packaging, among others.

What recent initiatives has Cognex undertaken?

Cognex has invested in launching new products and the Emerging Customer initiative, aiming to expand their customer base and capitalize on industry trends.

What is the financial outlook for Cognex Corporation?

Despite facing a challenging business environment, Cognex remains focused on cost management and long-term growth, with revenue expected to improve sequentially in certain end markets.

How can investors get more information about Cognex?

Investors can visit the Cognex Investor Relations website or contact the investor relations team for detailed information and updates.

Who is the CFO of Cognex Corporation?

Dennis Fehr is the Senior Vice President of Finance and Chief Financial Officer of Cognex Corporation, effective May 3, 2024.

Cognex Corporation

Nasdaq:CGNX

CGNX Rankings

CGNX Stock Data

8.75B
171.66M
0.25%
96.27%
2.41%
Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables
Manufacturing
Link
United States of America
NATICK