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Cognex approves $50M repurchase program

Cognex announced that its Board of Directors authorized the repurchase of up to $50M of Cognex common stock in open market transactions. This new authorization will commence once Cognex completes an existing $80M repurchase program, of which $38M remains available. The repurchase program is intended to offset the estimated dilution created by Cognex’s annual employee stock option awards, which the company believes are instrumental in its ability to recruit, retain and motivate the highest caliber employees.