• A well managed company growing solidly with a history of exceeding expectations, often by quite some margin.
• Management has a keen eye for opportunities, whether these are new segments, applications or acquiring new capabilities.
• The company is financially very sound as well, producing lots of free cash flow and having $700M+ in net cash on the balance.
• But you’ll have to pay for all this excellence; the shares are anything but cheap.

Source: Cognex Is A Terrific Company But Already Fully Valued – Cognex Corporation (NASDAQ:CGNX) | Seeking Alpha