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Cognex Corporation (NASDAQ:CGNX ) Q3 2023 Earnings Conference Call October 31, 2023 8:30 AM ET Company Participants Nathan McCurren - Head-Investor Relations Rob Willett - President & Chief Executive Officer Paul Todgham - Chief Financial Officer Conference Call Participants Jacob Levinson - Melius Research Piyush Avasthy - Citi Jim Ricchiuti - Needham & Company Ken Newman - KeyBanc Capital Markets Jairam Nathan - Daiwa Securities Operator Greetings, and welcome to the Cognex Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode.
Cognex Corporation (CGNX) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.21 per share a year ago.
Cognex's stock has crumbled under the pressure of a high valuation and weak end-market demand. While demand is likely to remain soft in the near term, Cognex has a strong competitive position in a secular growth market.
Robotics stocks are one of the most interesting growth categories in the market. With scientific innovation and technology continually emerging, companies are harnessing the power and ease of automation.
Cognex's dividend supports the case for buying the stock. Estée Lauder has a unique strategy that could pay off big time.
NATICK, Mass.--(BUSINESS WIRE)--Cognex Announces Third Quarter Earnings Release Date and Conference Call.
Robotics is one of the most exciting and innovative fields of technology today. From manufacturing and e-commerce to education and healthcare, robots are transforming various industries and creating new opportunities for growth and efficiency.
Cognex Corporation, a machine vision company, has been underperforming despite its strong positioning in the industry. Revenues have been flat in recent years, and the company's stock price has been range-bound. The acquisition of Moritex is expected to add 6-8% to total sales, but the deal is not expected to be accretive until 2025.
AI is hot; today's craze is just the tip of the iceberg. While large language models, generative AI, and image-producing algorithms are neat, the next phase of AI will start generating cash flow for companies other than NVIDIA NASDAQ: NVDA and the data center group in which generative AI is grounded.
The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.