Cognex Corp. (CGNX) is engaged in the designing, development, manufacturing, and marketing of image-based products using AI technology. The company’s product line includes machine vision sensors and portfolios along with barcode readers used to eliminate different types of errors.
The price of CGNX stock during the regular trading on February 17, 2022, was $61.6 with a drop of 3.85%. At last check in the aftermarket, the stock was up by 10.7%.
CGNX: Key Financials
On February 17, 2022, CGNX released its financial results for the fourth fiscal quarter of 2021 ended December 31, 2021. Some of the key updates are mentioned below.
Revenue
Total revenue in Q4 2021 was $244 million compared to $223.6 million in the same quarter of 2020. The company observed a surge of 9% in revenue from Q4 2020. The company topped the analysts’ estimates by $20.9 million.
EPS
Basic and diluted net income per share in Q4 2021 was $53.5 million or $0.30 against $69.3 million or $0.40 (basic) and $0.39 (diluted) in the same quarter of 2020. The EPS of the company decreased over the yearly period and the company topped the estimated EPS by -$0.09.
CGNX: Events and Happenings
On February 17, 2022, CGNX reported the declaration of the quarterly cash dividend of $0.065 per share by its BoDs payable by March 18, 2022, to the stockholders of the company. On February 16, 2022, CGNX reported about its Executive management’s participation at the 43rd Annual Raymond James Institutional Investors Conference being held on March 8, 2022.
On November 30, 2021, CGNX announced that its CEO Robert J. Willett visited the Nasdaq MarketSite on the same date and rang the opening bell. The company commemorated its 40th anniversary. On November 11, 2021, CGNX updated that its management presented at the Stephens Annual Investment Conference on December 1, 2021.
Conclusion
CGNX stock down-performed by 26% in the past six months as the global economy was hit by the pandemic. The recent aftermarket stock rise is due to a financial statement released by the company which positively affected the stock. The company topped the analysts’ estimated revenue and earnings. For the upcoming financial release, the company’s trajectory showed revenue in the range of $249.1 million against $0.33 EPS.
