Filed under: Earnings reports, Analyst upgrades and downgrades, Ford Motor (F), Technical Analysis, Stocks to Buy

Cognex Corporation (NASDAQ: CGNX) provides machine vision computer systems that automate a range of manufacturing processes. Essentially, the systems link to video cameras and serve as eyes where human vision is insufficient. The firm’s Modular Vision Systems automate the manufacture of discrete items (e.g: semiconductor chips) by locating, identifying, inspecting and measuring them during the manufacturing process. Its Surface Inspection Systems monitor the surfaces of materials processed in a continuous fashion (e.g: paper, metal, plastic) for imperfections. Cognex has offices throughout North America, Japan, Europe, Asia and Latin America. Ford Motor (NYSE: F) is a major customer.

The company pleased investors earlier in the month, when it reported Q3 EPS of 17 cents and revenues of $54.8 million. Analysts had been expecting 10 cents and $54.6 million. Management also guided Q4 EPS to 17-23 cents (18 cent consensus) and Q4 revenues to $56-$62 million ($59.89 million consensus). Bear Stearns and Barrington Research subsequently upgraded the shares to “outperform”.

Continue reading Cognex Corporation (CGNX) shares defining a bullish ‘pennant’

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This entry was posted on Friday, November 30th, 2007 at 4:38 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.