Some Traders See Unusual Bullish Options Activity in Cognex Corporation

 Some Traders See Unusual Bullish Options Activity in Cognex Corporation

In today’s session Cognex Corporation (CGNX) registered an unusually high (318) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious CGNX increase. With 318 contracts traded and 2714 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: CGNX161118C00055000 closed last at: $1.3 or 18.2% up. About 252,515 shares traded hands. Cognex Corporation (NASDAQ:CGNX) has risen 32.40% since March 31, 2016 and is uptrending. It has outperformed by 29.88% the S&P500.

Analysts await Cognex Corporation (NASDAQ:CGNX) to report earnings on November, 7. They expect $0.46 earnings per share, up 109.09% or $0.24 from last year’s $0.22 per share. CGNX’s profit will be $39.12M for 27.35 P/E if the $0.46 EPS becomes a reality. After $0.50 actual earnings per share reported by Cognex Corporation for the previous quarter, Wall Street now forecasts -8.00% negative EPS growth.

Cognex Corporation (NASDAQ:CGNX) Ratings Coverage

Out of 10 analysts covering Cognex Corporation (NASDAQ:CGNX), 3 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 30% are positive. Cognex Corporation has been the topic of 21 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The company was initiated on Wednesday, May 11 by FBR Capital. The rating was downgraded by CSLA on Thursday, March 24 to “Underperform”. The firm earned “Buy” rating on Tuesday, August 4 by Needham. The firm earned “Hold” rating on Tuesday, August 4 by Canaccord Genuity. Raymond James downgraded Cognex Corporation (NASDAQ:CGNX) on Friday, March 11 to “Market Perform” rating. The company was maintained on Tuesday, August 2 by CLSA. Canaccord Genuity maintained the shares of CGNX in a report on Tuesday, August 2 with “Hold” rating. Canaccord Genuity downgraded the shares of CGNX in a report on Tuesday, June 14 to “Hold” rating. As per Tuesday, November 3, the company rating was maintained by Canaccord Genuity. The firm has “Buy” rating given on Friday, April 1 by Canaccord Genuity.

According to Zacks Investment Research, “Cognex Corp. designs, develops, manufactures, and markets machine vision systems that are used to automate a wide range of manufacturing processes where vision is required. Cognex machine vision systems consist of two primary elements: a computer, which serves as a machine vision engine, and software that processes and analyzes images. When connected to a video camera, the machine vision system captures images and extracts information, which determines appropriate action for other equipment in the manufacturing process.”

Insitutional Activity: The institutional sentiment increased to 1.13 in Q2 2016. Its up 0.01, from 1.12 in 2016Q1. The ratio increased, as 21 funds sold all Cognex Corporation shares owned while 81 reduced positions. 32 funds bought stakes while 83 increased positions. They now own 71.25 million shares or 14.59% less from 83.42 million shares in 2016Q1.
Nationwide Fund Advisors owns 586,582 shares or 0.11% of their US portfolio. Kbc Group Nv holds 2,427 shares or 0% of its portfolio. Ibm Retirement Fund accumulated 8,204 shares or 0.01% of the stock. Pinnacle holds 1.13% or 1.21M shares in its portfolio. State Board Of Administration Of Florida Retirement System has invested 0.01% of its portfolio in Cognex Corporation (NASDAQ:CGNX). Great West Life Assurance Com Can holds 0% or 7,741 shares in its portfolio. Moreover, Chatham Group has 0.33% invested in Cognex Corporation (NASDAQ:CGNX) for 24,420 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% or 2,740 shares in its portfolio. Proshare Advsrs Ltd accumulated 0% or 7,472 shares. Sandy Spring Bank & Trust holds 0% or 190 shares in its portfolio. Retirement Of Alabama has 109,713 shares for 0.03% of their US portfolio. Creative Planning has invested 0% of its portfolio in Cognex Corporation (NASDAQ:CGNX). Bb&T Corporation holds 0.01% or 5,680 shares in its portfolio. Nuveen Asset Mngmt Ltd Liability Co last reported 31,999 shares in the company. Stephens Incorporated Ar last reported 0.01% of its portfolio in the stock.

Insider Transactions: Since May 18, 2016, the stock had 1 insider purchase, and 10 insider sales for $12.09 million net activity. 45,000 shares with value of $2.25M were sold by MORIN RICHARD on Wednesday, August 10. 125,000 Cognex Corporation (NASDAQ:CGNX) shares with value of $5.99 million were sold by Willett Robert. $322,866 worth of shares were sold by WASSERMAN REUBEN on Friday, May 27. KRANTZ THEODOR also sold $1.00M worth of Cognex Corporation (NASDAQ:CGNX) shares. On Wednesday, May 18 BANUCCI EUGENE G bought $77,606 worth of the stock or 2,000 shares. Another trade for 20,000 shares valued at $990,248 was sold by miller jeffrey benjamin. 7,500 shares with value of $363,550 were sold by ALIAS PATRICK on Thursday, August 4.

Cognex Corporation is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The company has a market cap of $4.28 billion. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process. It has a 33.54 P/E ratio. The Company’s products include vision software, vision systems, vision sensors and ID products.

CGNX Company Profile

Cognex Corporation (Cognex), incorporated on January 7, 1981, is a well-known provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process. The Company’s products include vision software, vision systems, vision sensors and ID products. The Company’s products range from vision sensors that are integrated, to personal computer (PC) systems for users. The Company’s products have a range of physical forms, depending upon the user’s need. Cognex sells its products through a direct sales force, as well as through a global network of integration and distribution partners. The Company’s service offerings include maintenance and support, consulting and training services.

More notable recent Cognex Corporation (NASDAQ:CGNX) news were published by: Foxbusiness.com which released: “Cognex Corporation Trumps Forecasts, Again” on November 01, 2016, also Fool.com with their article: “Cognex Corporation Does It Again” published on August 02, 2016, Fool.com published: “Cognex Corporation Soars After Strong Earnings” on May 03, 2016. More interesting news about Cognex Corporation (NASDAQ:CGNX) were released by: Fool.com and their article: “3 Things to Look Out for When Cognex Corp. Reports Earnings” published on July 29, 2016 as well as Fool.com‘s news article titled: “Cognex Corporation Repeats a Recurring Theme” with publication date: February 11, 2016.

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