Intrinsic value of Cognex - CGNX

Previous Close

$101.53

  Intrinsic Value

$207.00

stock screener

  Rating & Target

str. buy

+104%

  Value-price divergence*

-68%

Previous close

$101.53

 
Intrinsic value

$207.00

 
Up/down potential

+104%

 
Rating

str. buy

 
Value-price divergence*

-68%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CGNX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 8.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  15.52
  40.60
  37.04
  33.84
  30.95
  28.36
  26.02
  23.92
  22.03
  20.32
  18.79
  17.41
  16.17
  15.05
  14.05
  13.14
  12.33
  11.60
  10.94
  10.34
  9.81
  9.33
  8.90
  8.51
  8.16
  7.84
  7.56
  7.30
  7.07
  6.86
  6.68
Revenue, $m
  521
  733
  1,004
  1,344
  1,759
  2,258
  2,846
  3,527
  4,303
  5,178
  6,151
  7,222
  8,390
  9,653
  11,010
  12,457
  13,993
  15,615
  17,323
  19,115
  20,990
  22,948
  24,989
  27,115
  29,326
  31,625
  34,015
  36,498
  39,078
  41,760
  44,548
Variable operating expenses, $m
 
  321
  436
  580
  757
  969
  1,218
  1,507
  1,837
  2,209
  2,622
  3,068
  3,564
  4,100
  4,676
  5,291
  5,944
  6,633
  7,358
  8,119
  8,916
  9,747
  10,615
  11,517
  12,457
  13,433
  14,448
  15,503
  16,599
  17,738
  18,923
Fixed operating expenses, $m
 
  135
  139
  142
  146
  149
  153
  157
  161
  165
  169
  173
  178
  182
  187
  191
  196
  201
  206
  211
  216
  222
  227
  233
  239
  245
  251
  257
  264
  270
  277
Total operating expenses, $m
  360
  456
  575
  722
  903
  1,118
  1,371
  1,664
  1,998
  2,374
  2,791
  3,241
  3,742
  4,282
  4,863
  5,482
  6,140
  6,834
  7,564
  8,330
  9,132
  9,969
  10,842
  11,750
  12,696
  13,678
  14,699
  15,760
  16,863
  18,008
  19,200
Operating income, $m
  161
  277
  429
  621
  857
  1,140
  1,474
  1,862
  2,305
  2,804
  3,360
  3,981
  4,649
  5,371
  6,147
  6,974
  7,853
  8,782
  9,759
  10,785
  11,858
  12,979
  14,147
  15,364
  16,631
  17,947
  19,315
  20,738
  22,215
  23,752
  25,349
EBITDA, $m
  176
  291
  445
  639
  878
  1,164
  1,502
  1,895
  2,343
  2,847
  3,409
  4,028
  4,703
  5,434
  6,218
  7,055
  7,944
  8,883
  9,872
  10,909
  11,994
  13,128
  14,310
  15,541
  16,821
  18,153
  19,537
  20,975
  22,469
  24,023
  25,638
Interest expense (income), $m
  0
  0
  1
  2
  4
  6
  9
  12
  15
  19
  24
  29
  34
  40
  47
  54
  61
  69
  77
  86
  95
  105
  115
  125
  136
  147
  159
  171
  184
  197
  211
Earnings before tax, $m
  169
  277
  428
  619
  853
  1,134
  1,466
  1,850
  2,290
  2,785
  3,336
  3,953
  4,615
  5,331
  6,100
  6,921
  7,792
  8,713
  9,682
  10,699
  11,763
  12,874
  14,033
  15,239
  16,495
  17,800
  19,157
  20,567
  22,032
  23,555
  25,138
Tax expense, $m
  19
  75
  116
  167
  230
  306
  396
  500
  618
  752
  901
  1,067
  1,246
  1,439
  1,647
  1,869
  2,104
  2,352
  2,614
  2,889
  3,176
  3,476
  3,789
  4,115
  4,454
  4,806
  5,172
  5,553
  5,949
  6,360
  6,787
Net income, $m
  150
  202
  313
  452
  622
  828
  1,070
  1,351
  1,672
  2,033
  2,435
  2,885
  3,369
  3,891
  4,453
  5,052
  5,688
  6,360
  7,068
  7,810
  8,587
  9,398
  10,244
  11,125
  12,041
  12,994
  13,984
  15,014
  16,083
  17,195
  18,351

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  421
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,039
  869
  1,191
  1,594
  2,087
  2,679
  3,376
  4,183
  5,105
  6,142
  7,297
  8,567
  9,953
  11,451
  13,060
  14,777
  16,599
  18,523
  20,549
  22,675
  24,899
  27,222
  29,643
  32,165
  34,788
  37,515
  40,349
  43,295
  46,356
  49,537
  52,845
Adjusted assets (=assets-cash), $m
  618
  869
  1,191
  1,594
  2,087
  2,679
  3,376
  4,183
  5,105
  6,142
  7,297
  8,567
  9,953
  11,451
  13,060
  14,777
  16,599
  18,523
  20,549
  22,675
  24,899
  27,222
  29,643
  32,165
  34,788
  37,515
  40,349
  43,295
  46,356
  49,537
  52,845
Revenue / Adjusted assets
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
  0.843
Average production assets, $m
  34
  48
  65
  87
  114
  147
  185
  229
  280
  337
  400
  469
  545
  627
  716
  810
  910
  1,015
  1,126
  1,242
  1,364
  1,492
  1,624
  1,762
  1,906
  2,056
  2,211
  2,372
  2,540
  2,714
  2,896
Working capital, $m
  460
  55
  75
  101
  132
  169
  213
  264
  323
  388
  461
  542
  629
  724
  826
  934
  1,049
  1,171
  1,299
  1,434
  1,574
  1,721
  1,874
  2,034
  2,199
  2,372
  2,551
  2,737
  2,931
  3,132
  3,341
Total debt, $m
  0
  31
  70
  120
  181
  253
  339
  439
  552
  680
  822
  978
  1,148
  1,333
  1,530
  1,742
  1,966
  2,202
  2,452
  2,713
  2,987
  3,272
  3,570
  3,880
  4,203
  4,538
  4,887
  5,249
  5,626
  6,017
  6,424
Total liabilities, $m
  76
  107
  146
  196
  257
  329
  415
  515
  628
  756
  898
  1,054
  1,224
  1,409
  1,606
  1,818
  2,042
  2,278
  2,528
  2,789
  3,063
  3,348
  3,646
  3,956
  4,279
  4,614
  4,963
  5,325
  5,702
  6,093
  6,500
Total equity, $m
  963
  762
  1,044
  1,398
  1,830
  2,349
  2,961
  3,669
  4,477
  5,387
  6,399
  7,514
  8,729
  10,043
  11,454
  12,959
  14,557
  16,245
  18,022
  19,886
  21,836
  23,873
  25,997
  28,208
  30,509
  32,901
  35,386
  37,970
  40,654
  43,444
  46,345
Total liabilities and equity, $m
  1,039
  869
  1,190
  1,594
  2,087
  2,678
  3,376
  4,184
  5,105
  6,143
  7,297
  8,568
  9,953
  11,452
  13,060
  14,777
  16,599
  18,523
  20,550
  22,675
  24,899
  27,221
  29,643
  32,164
  34,788
  37,515
  40,349
  43,295
  46,356
  49,537
  52,845
Debt-to-equity ratio
  0.000
  0.040
  0.070
  0.090
  0.100
  0.110
  0.110
  0.120
  0.120
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
Adjusted equity ratio
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877
  0.877

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  150
  202
  313
  452
  622
  828
  1,070
  1,351
  1,672
  2,033
  2,435
  2,885
  3,369
  3,891
  4,453
  5,052
  5,688
  6,360
  7,068
  7,810
  8,587
  9,398
  10,244
  11,125
  12,041
  12,994
  13,984
  15,014
  16,083
  17,195
  18,351
Depreciation, amort., depletion, $m
  15
  14
  16
  18
  21
  24
  28
  32
  37
  43
  49
  47
  55
  63
  72
  81
  91
  101
  113
  124
  136
  149
  162
  176
  191
  206
  221
  237
  254
  271
  290
Funds from operations, $m
  182
  216
  329
  470
  643
  852
  1,098
  1,383
  1,709
  2,076
  2,485
  2,932
  3,423
  3,954
  4,525
  5,133
  5,779
  6,462
  7,180
  7,934
  8,723
  9,547
  10,406
  11,301
  12,232
  13,200
  14,205
  15,251
  16,337
  17,466
  18,640
Change in working capital, $m
  0
  16
  20
  25
  31
  37
  44
  51
  58
  66
  73
  80
  88
  95
  102
  109
  115
  122
  128
  134
  141
  147
  153
  159
  166
  172
  179
  186
  194
  201
  209
Cash from operations, $m
  182
  200
  308
  444
  612
  814
  1,054
  1,332
  1,651
  2,011
  2,412
  2,852
  3,336
  3,860
  4,423
  5,025
  5,664
  6,340
  7,052
  7,800
  8,583
  9,400
  10,253
  11,142
  12,066
  13,027
  14,026
  15,065
  16,144
  17,265
  18,431
Maintenance CAPEX, $m
  0
  -3
  -5
  -7
  -9
  -11
  -15
  -18
  -23
  -28
  -34
  -40
  -47
  -55
  -63
  -72
  -81
  -91
  -101
  -113
  -124
  -136
  -149
  -162
  -176
  -191
  -206
  -221
  -237
  -254
  -271
New CAPEX, $m
  -13
  -14
  -18
  -22
  -27
  -32
  -38
  -44
  -50
  -57
  -63
  -70
  -76
  -82
  -88
  -94
  -100
  -105
  -111
  -116
  -122
  -127
  -133
  -138
  -144
  -149
  -155
  -161
  -168
  -174
  -181
Cash from investing activities, $m
  -122
  -17
  -23
  -29
  -36
  -43
  -53
  -62
  -73
  -85
  -97
  -110
  -123
  -137
  -151
  -166
  -181
  -196
  -212
  -229
  -246
  -263
  -282
  -300
  -320
  -340
  -361
  -382
  -405
  -428
  -452
Free cash flow, $m
  60
  183
  286
  416
  576
  771
  1,001
  1,269
  1,577
  1,926
  2,315
  2,742
  3,213
  3,723
  4,272
  4,859
  5,483
  6,144
  6,840
  7,571
  8,337
  9,137
  9,971
  10,841
  11,746
  12,687
  13,665
  14,682
  15,739
  16,837
  17,979
Issuance/(repayment) of debt, $m
  0
  31
  40
  50
  61
  73
  86
  99
  113
  128
  142
  156
  170
  184
  198
  211
  224
  237
  249
  261
  274
  286
  298
  310
  323
  335
  349
  362
  377
  391
  407
Issuance/(repurchase) of shares, $m
  -4
  18
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -4
  49
  40
  50
  61
  73
  86
  99
  113
  128
  142
  156
  170
  184
  198
  211
  224
  237
  249
  261
  274
  286
  298
  310
  323
  335
  349
  362
  377
  391
  407
Total cash flow (excl. dividends), $m
  53
  232
  325
  465
  637
  843
  1,087
  1,369
  1,691
  2,053
  2,457
  2,899
  3,383
  3,907
  4,470
  5,070
  5,707
  6,380
  7,089
  7,832
  8,610
  9,422
  10,269
  11,151
  12,069
  13,023
  14,014
  15,044
  16,115
  17,228
  18,385
Retained Cash Flow (-), $m
  -137
  -220
  -282
  -353
  -433
  -519
  -611
  -708
  -808
  -910
  -1,012
  -1,114
  -1,215
  -1,314
  -1,411
  -1,505
  -1,598
  -1,688
  -1,777
  -1,864
  -1,951
  -2,037
  -2,124
  -2,211
  -2,300
  -2,392
  -2,486
  -2,583
  -2,685
  -2,790
  -2,901
Prev. year cash balance distribution, $m
 
  421
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  433
  43
  112
  204
  324
  475
  661
  883
  1,143
  1,445
  1,784
  2,168
  2,593
  3,059
  3,565
  4,109
  4,692
  5,312
  5,968
  6,660
  7,386
  8,146
  8,940
  9,768
  10,631
  11,528
  12,461
  13,431
  14,438
  15,485
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  415
  40
  97
  168
  251
  345
  446
  552
  657
  757
  847
  925
  986
  1,027
  1,047
  1,044
  1,021
  978
  919
  846
  764
  676
  586
  498
  414
  336
  267
  208
  158
  117
Current shareholders' claim on cash, %
  100
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing and tracking of discrete items, such as mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process. Its products include VisionPro, a software suite that provides various vision tools for programming; displacement sensors with vision software for use in 3D application; In-Sight vision systems that perform various vision tasks, including part location, identification, measurement, assembly verification, and robotic guidance; In-Sight vision sensors; ID products, which are used for reading codes that are applied on discrete items during the manufacturing process, as well as have applications in logistics automation for package sorting and distribution; DataMan barcode readers; barcode verifiers; vision-enabled mobile terminals for industrial barcode reading applications; and barcode scanning software development kits. The company sells its products through direct sales force, as well as through a network of distributors and integrators. Cognex Corporation was founded in 1981 and is headquartered in Natick, Massachusetts.

FINANCIAL RATIOS  of  Cognex (CGNX)

Valuation Ratios
P/E Ratio 58.2
Price to Sales 16.7
Price to Book 9.1
Price to Tangible Book
Price to Cash Flow 47.9
Price to Free Cash Flow 51.6
Growth Rates
Sales Growth Rate 15.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -55.2%
Cap. Spend. - 3 Yr. Gr. Rate 0%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 15.6%
Ret/ On Assets - 3 Yr. Avg. 17.7%
Return On Total Capital 16.8%
Ret/ On T. Cap. - 3 Yr. Avg. 19.4%
Return On Equity 16.8%
Return On Equity - 3 Yr. Avg. 19.4%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 77.7%
Gross Margin - 3 Yr. Avg. 77.6%
EBITDA Margin 35.3%
EBITDA Margin - 3 Yr. Avg. 33.5%
Operating Margin 30.9%
Oper. Margin - 3 Yr. Avg. 29.3%
Pre-Tax Margin 32.4%
Pre-Tax Margin - 3 Yr. Avg. 30.5%
Net Profit Margin 28.8%
Net Profit Margin - 3 Yr. Avg. 32.9%
Effective Tax Rate 11.2%
Eff/ Tax Rate - 3 Yr. Avg. 14%
Payout Ratio 16.7%

CGNX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CGNX stock intrinsic value calculation we used $521 million for the last fiscal year's total revenue generated by Cognex. The default revenue input number comes from 2016 income statement of Cognex. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CGNX stock valuation model: a) initial revenue growth rate of 40.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CGNX is calculated based on our internal credit rating of Cognex, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Cognex.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CGNX stock the variable cost ratio is equal to 44.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $132 million in the base year in the intrinsic value calculation for CGNX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Cognex.

Corporate tax rate of 27% is the nominal tax rate for Cognex. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CGNX stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CGNX are equal to 6.5%.

Life of production assets of 10 years is the average useful life of capital assets used in Cognex operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CGNX is equal to 7.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $963 million for Cognex - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 84.921 million for Cognex is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Cognex at the current share price and the inputted number of shares is $8.6 billion.

RELATED COMPANIES Price Int.Val. Rating
CYBE CyberOptics 14.55 10.59  str.sell
DHR Danaher 80.87 68.69  hold
FTV Fortive 65.03 43.03  sell
PRCP Perceptron 7.11 1.53  str.sell
SCKT Socket Mobile 4.15 21.91  str.buy
NOVT Novanta 37.30 17.48  str.sell
MKSI MKS Instrument 79.35 593.08  str.buy
AME Ametek 62.94 77.18  buy

COMPANY NEWS

▶ ETFs with exposure to Cognex Corp. : August 15, 2017   [Aug-15-17 03:41PM  Capital Cube]
▶ Cognex Corporation Prepares for a Monster Quarter   [Aug-01-17 06:33PM  Motley Fool]
▶ What Happened in the Stock Market Today   [05:02PM  Motley Fool]
▶ Dow Flirts With 22,000; Financials Extend Gains, Cognex Soars   [01:33PM  Investor's Business Daily]
▶ Why Shares of Cognex Are Soaring Today   [01:09PM  Motley Fool]
▶ Blue Chips Set The Pace; Several IBD 50 Stocks Near Entries   [11:59AM  Investor's Business Daily]
▶ Cognex Soars On Earnings   [05:09AM  Investor's Business Daily]
▶ Cognex tops Street 2Q forecasts   [Jul-31-17 09:16PM  Associated Press]
▶ Cognex Declares Quarterly Cash Dividend   [04:06PM  Business Wire]
▶ ETFs with exposure to Cognex Corp. : July 24, 2017   [Jul-24-17 02:49PM  Capital Cube]
▶ ETFs with exposure to Cognex Corp. : July 14, 2017   [Jul-14-17 01:28PM  Capital Cube]
▶ These 3 Stocks Are Up Big in 2017: Is There Room to Run?   [Jun-21-17 07:41AM  Motley Fool]
▶ Nasdaq Leads Drop; Why GE Is Not A Buy Yet; Sell Apple Or Hold?   [Jun-12-17 04:10PM  Investor's Business Daily]
▶ Looking to propose a shareholder vote? It may get tougher   [Jun-06-17 06:57PM  Associated Press]
▶ ETFs with exposure to Cognex Corp. : May 26, 2017   [May-26-17 01:02PM  Capital Cube]
▶ This Key Tenet Of Swing Trading Reduces Risk   [May-19-17 02:22PM  Investor's Business Daily]
▶ Cognex to Webcast Conference Presentations   [May-16-17 08:06AM  Business Wire]
▶ ETFs with exposure to Cognex Corp. : May 15, 2017   [May-15-17 03:27PM  Capital Cube]
▶ ETFs with exposure to Cognex Corp. : May 3, 2017   [May-03-17 03:45PM  Capital Cube]
▶ Cognex tops Street 1Q forecasts   [May-01-17 04:16PM  Associated Press]
▶ Cognex Increases Quarterly Cash Dividend   [08:06AM  Business Wire]
▶ Cognex Authorizes New Stock Buyback Program   [08:06AM  Business Wire]
▶ 3 Estimate-Beating Stocks to Keep On Your Radar   [Apr-05-17 05:17PM  Zacks]
▶ 5 ways to invest in the robot revolution   [08:42AM  MarketWatch]
▶ Indexes Shave Losses; Should You Take Gains In These 5 Leading Tech Stocks?   [Apr-03-17 03:35PM  Investor's Business Daily]
▶ Bull of the Day: Cognex (CGNX)   [07:00AM  Zacks]
▶ Cognex Declares Quarterly Cash Dividend   [04:06PM  Business Wire]
Stock chart of CGNX Financial statements of CGNX
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.