Engaged Capital urges cost cutting at Cognex to boost share price
Engaged Capital urges Cognex to cut costs and employ consultants. They believe this could nearly double CGNX stock in two years.
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CGNX
Cognex Corporation · NASDAQ · Technology
Price$61.48+2.77% · +$1.66
Market cap10.23BEquity value
P / E44.2Trailing ratio
Volume527.92KLatest session
Market data
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These Analysts Cut Their Forecasts On Cognex Following Q2 Results
Cognex reported Q2 earnings of 23 cents, beating forecasts of 21 cents. Sales totaled $239 million but fell short of $240.39 million expectations. Strong growth in logistics and semiconductor markets noted amid broader declines. Analysts reduced price targets after earnings; Needham from $57 to $50. Cognex shares dropped 21.2% post-announcement, closing at $39.08.
View signal analysisCognex Suffering From Blurred Vision As End-Market Capex Trends Sort Themselves Out
- Cognex is facing challenges from weak capex cycles in major end-markets. - The company is focusing on developing new markets for its machine vision products. Price Impact Rating: Bearish Impact Horizon Rating: Long-term Type: Industry News
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