Oppenheimer Asset Management Inc. Grows Stock Position in Cognex Corporation $CGNX

Oppenheimer Asset Management Inc. grew its position in shares of Cognex Corporation (NASDAQ:CGNX) by 13.3% during the third quarter, HoldingsChannel reports. The firm owned 318,984 shares of the scientific and technical instruments company’s stock after buying an additional 37,405 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Cognex were worth $14,450,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in Cognex by 12.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,132 shares of the scientific and technical instruments company’s stock worth $68,000 after buying an additional 243 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Cognex by 1.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,611 shares of the scientific and technical instruments company’s stock valued at $662,000 after acquiring an additional 256 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Cognex by 10.6% during the second quarter. First Horizon Advisors Inc. now owns 2,788 shares of the scientific and technical instruments company’s stock worth $88,000 after acquiring an additional 268 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Cognex by 0.6% in the third quarter. Arizona State Retirement System now owns 49,651 shares of the scientific and technical instruments company’s stock worth $2,249,000 after acquiring an additional 285 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in Cognex by 8.1% in the second quarter. Centaurus Financial Inc. now owns 4,021 shares of the scientific and technical instruments company’s stock valued at $128,000 after purchasing an additional 303 shares during the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cognex Stock Performance

Shares of NASDAQ:CGNX opened at $43.72 on Tuesday. The company’s fifty day moving average is $38.42 and its two-hundred day moving average is $41.11. Cognex Corporation has a 1-year low of $22.67 and a 1-year high of $49.76. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 68.31 and a beta of 1.53.

Analyst Ratings Changes

A number of brokerages have issued reports on CGNX. The Goldman Sachs Group raised 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 research report on Tuesday, December 16th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $35.00 price objective (down from $45.00) on shares of Cognex in a research note on Wednesday, December 3rd. KeyCorp reissued an “overweight” rating and issued a $50.00 target price on shares of Cognex in a research report on Friday, October 31st. DA Davidson set a $38.00 target price on shares of Cognex and gave the company a “neutral” rating in a research note on Monday, November 3rd. Finally, UBS Group reaffirmed a “buy” rating and set a $58.00 price target on shares of Cognex in a research report on Friday, October 31st. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cognex presently has an average rating of “Hold” and a consensus price target of $45.64.

Cognex Company 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.