Cognex (CGNX) failed, on a number of trading sessions ahead of its quarterly earnings report, to break out above $55, and for good reason. The company reported revenue slowing from last year. Even though it beat consensus estimates on earnings and revenue, the stock is still growing too slowly. Plus, shares are too expensive for value investors to consider after trading at ~$44 recently.
Cognex earned $0.17 a share non-GAAP as revenue grew 2.3% to $173.4 million. A slowdown in customer spending in China, unfavorable market conditions, and orders getting pushed further out