Cognex Stock Hits New 52-Week High (CGNX)

NEW YORK ( TheStreet) -- Cognex Corporation (Nasdaq: CGNX) hit a new 52-week high Thursday as it is currently trading at $37.66, above its previous 52-week high of $37.49 with 151,184 shares traded as of 1:33 p.m. ET. Average volume has been 208,400 shares over the past 30 days.

Cognex has a market cap of $1.54 billion and is part of the technology sector and electronics industry. Shares are up 2.6% year to date as of the close of trading on Wednesday.

Cognex Corporation and its subsidiaries provide machine vision products that capture and analyze visual information to automate tasks, primarily in manufacturing processes. It operates in two divisions, Modular Vision Systems and Surface Inspection Systems. The company has a P/E ratio of 22.1, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Cognex as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Cognex Ratings Report.

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