Revenue Update on Cognex Corporation(NASDAQ:CGNX)

Cognex Corporation(NASDAQ:CGNX) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $147.27M. Analysts estimated a revenue of $138.11M. Earnings per share were $0.50. Analysts had estimated an EPS of $0.43.

In a different note, On Jun 14, 2016, Canaccord Genuity said it Downgrades its rating on Cognex Corporation. The shares have been rated ‘Hold’ by the firm. Bernstein said it Initiates Coverage on Cognex Corporation, according to a research note issued on Jun 6, 2016. The shares have been rated ‘Market Perform’ by the firm. FBR Capital said it Initiates Coverage on Cognex Corporation, according to a research note issued on May 11, 2016. The shares have been rated ‘Market Perform’ by the firm.

Cognex Corporation (CGNX) shares turned negative on Mondays trading session with the shares closing down -0.22 points or -0.44% at a volume of 6,33,793. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $49.77. The peak price level was also seen at $49.77 while the days lowest was $49.03. Finally the shares closed at $49.23. The 52-week high of the shares is $53.45 while the 52-week low is $28.01. According to the latest information available, the market cap of the company is $4,190 M.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, Patrick Alias (director) sold 7,500 shares at $44.59 per share price.Also, On May 31, 2016, Reuben Wasserman (director) sold 7,500 shares at $43.05 per share price.On May 18, 2016, Eugene G Banucci (director) purchased 2,000 shares at $38.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Cognex Corporation is a provider of machine vision products that captures and analyzes visual information in order to automate tasks primarily in manufacturing processes. The Company operates in the modular vision systems division (MVSD). The Company’s products include barcode readers machine vision sensors and machine vision systems that are used in factories warehouses and distribution centers around the world. MVSD develops manufactures and markets modular vision systems and identification (ID) products that are used to automate the manufacture and tracking of discrete items such as cellular phones aspirin bottles and automobile wheels during the manufacturing or distribution process. The Company’s registered marks include Cognex VisionPro In-Sight Checker and DataMan among others.

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