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Cognex Corporation (CGNX) provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes.
It operates in two divisions, Modular Vision Systems and Surface Inspection Systems.
The Modular Vision Systems division develops, manufactures, and markets modular vision systems and ID products that are used to automate the manufacture and tracking of discrete items, such as cellular phones, aspirin bottles, and automobile wheels by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
The Surface Inspection Systems division develops, manufactures, and markets surface inspection vision systems that are used to inspect the surfaces of materials processed in a continuous fashion, such as metal, paper, nonwoven, plastic, and glass.
The company serves customers in factory automation, semiconductor and electronics capital equipment, and surface inspection markets. Cognex Corporation sells its products through direct sales force, as well as through a network of integration and distribution partners worldwide.
Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.
52-Week Trading Range: $27.07 - $45.80
Entry Point: $43.50
Stop Loss: $41.30
Target Price: $47.85
CGNX closed at $41.15 after its 30 days expired.
