Shares of Cognex Flying High (CGNX)
Shares of Cognex Corporation (NASDAQ: CGNX) are skyrocketing today, after having been mentioned by Jim Cramer on CNBC's 'Mad Money' program on Friday night.
Cramer went to recommend Cognex, saying it is a "conservative speculation" play on computer vision systems.
The company had $5 per share in cash, and offers a dividend, unlike other speculative stocks. The company has a diverse product line and its biggest business, factory automation, and is trading at all time highs.
The company recently reported very strong earnings, reporting 38 cents a share compared to the 22 cents Wall Street was looking for. The company has a 12.5 PE ratio, and is expected to grow at 28% for the coming year.
Shares of Cognex are gaining 8.6% this morning to trade at $22.33, a gain of $1.77. Cognex has traded almost 640,000 shares today, while the average volume is just over 200,000 shares.
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