Mutual Advisors LLC Purchases Shares of 27,323 Cognex Corporation $CGNX

Mutual Advisors LLC purchased a new stake in shares of Cognex Corporation (NASDAQ:CGNX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 27,323 shares of the scientific and technical instruments company’s stock, valued at approximately $1,313,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CGNX. Quent Capital LLC acquired a new position in Cognex during the third quarter worth about $26,000. Geneos Wealth Management Inc. lifted its holdings in Cognex by 402.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 736 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of Cognex during the 2nd quarter valued at about $29,000. TD Waterhouse Canada Inc. acquired a new position in shares of Cognex in the 2nd quarter worth approximately $29,000. Finally, First Horizon Corp bought a new stake in shares of Cognex in the 3rd quarter worth approximately $38,000. Institutional investors own 88.12% of the company’s stock.

Wall Street Analyst Weigh In

CGNX has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Cognex in a report on Monday, December 29th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $35.00 price objective (down previously from $45.00) on shares of Cognex in a research report on Wednesday, December 3rd. Truist Financial decreased their target price on Cognex from $45.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. DA Davidson set a $38.00 target price on Cognex and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Finally, UBS Group reiterated a “buy” rating and issued a $58.00 price target on shares of Cognex in a research report on Friday, October 31st. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.64.

Cognex Trading Up 2.7%

NASDAQ:CGNX opened at $40.85 on Wednesday. The business’s fifty day moving average price is $38.15 and its 200 day moving average price is $40.90. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 63.83 and a beta of 1.53. Cognex Corporation has a 1-year low of $22.67 and a 1-year high of $49.76.

About Cognex

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.