Machine vision company Cognex (NASDAQ: CGNX) rounded off its fiscal 2020 with a year-over-year revenue increase of 32% in the fourth quarter, and managed to report a record full-year sales number. Moreover, the company demonstrated its earnings resiliency by offsetting a 20% decline in its automotive-related sales with strong growth elsewhere.
Record sales, earnings resiliency, strong momentum -- does that all add up to make the stock a buy? Let's take a closer look.
To understand what happened last year, it's a good idea to think about Cognex in four different buckets. The first three are the company's core end markets of automotive, consumer electronics, and the fast-growing logistics business. The fourth is basically everything else, including consumer products, food and beverage, medical, and semiconductors, which together made up 30% of revenue in 2020.
Source Fool.com