Cognex Dives into Vision Sensors and Optical Components, Raises Dividend
Portfolio Pulse from Anusuya Lahiri
Cognex Corp reported a Q3 FY23 revenue decline of 6% to $197.24 million, beating the consensus of $192.3 million. The company's financial position remains strong with $846 million in cash and no debt. Cognex has entered the vision sensor and optical components markets, expanding its served market size by $1.5 billion. The company declared a quarterly cash dividend of $0.075 per share, a 7% increase from the prior quarter. However, the company expects Q4 revenues to be lower than consensus estimates.
October 31, 2023 | 4:19 pm
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NEUTRAL IMPACT
Cognex Corp reported better than expected Q3 FY23 results and raised its dividend. However, the company's Q4 revenue outlook is lower than consensus estimates.
Cognex Corp's Q3 FY23 results were better than expected and the company raised its dividend, which is positive for the stock. However, the company's Q4 revenue outlook is lower than consensus estimates, which could put downward pressure on the stock. Therefore, the net impact on the stock is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100