IMC Chicago LLC Takes $5.76 Million Position in Cognex Corporation $CGNX

IMC Chicago LLC acquired a new position in shares of Cognex Corporation (NASDAQ:CGNX) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 127,168 shares of the scientific and technical instruments company’s stock, valued at approximately $5,761,000.

A number of other large investors have also recently made changes to their positions in CGNX. Quent Capital LLC purchased a new position in Cognex in the third quarter worth approximately $26,000. Geneos Wealth Management Inc. raised its holdings in shares of 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 purchasing an additional 736 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Cognex during the 2nd quarter worth $29,000. TD Waterhouse Canada Inc. acquired a new position in shares of Cognex during the second quarter worth $29,000. Finally, First Horizon Corp purchased a new position in Cognex in the third quarter valued at $38,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cognex Trading Down 0.3%

CGNX stock opened at $40.73 on Thursday. The company has a market capitalization of $6.83 billion, a P/E ratio of 63.64 and a beta of 1.53. The business has a 50 day simple moving average of $38.20 and a 200-day simple moving average of $40.90. Cognex Corporation has a twelve month low of $22.67 and a twelve month high of $49.76.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Robert W. Baird set a $45.00 price target on Cognex in a report on Friday, October 31st. Truist Financial decreased their target price on Cognex from $45.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. DA Davidson set a $38.00 price target on shares of Cognex and gave the company a “neutral” rating in a research note on Monday, November 3rd. Barclays set a $54.00 price objective on shares of Cognex and gave the stock an “overweight” rating in a report on Monday, January 12th. Finally, The Goldman Sachs Group upgraded shares of Cognex from a “sell” rating to a “buy” rating and upped their target price for the company from $42.00 to $50.00 in a report on Tuesday, December 16th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.64.

Cognex Profile

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.