The stock of Cognex Corporation (NASDAQ:CGNX) hit a new 52-week high and has $76.81 target or 32.00% above today’s $58.19 share price. The 8 months bullish chart indicates low risk for the $5.09B company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $76.81 price target is reached, the company will be worth $1.63 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 28,539 shares traded hands. Cognex Corporation (NASDAQ:CGNX) has risen 50.84% since April 14, 2016 and is uptrending. It has outperformed by 46.15% the S&P500.
Cognex Corporation (NASDAQ:CGNX) Ratings Coverage
Out of 10 analysts covering Cognex Corporation (NASDAQ:CGNX), 4 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 40% are positive. $61 is the highest target while $33 is the lowest. The $48.68 average target is -16.34% below today’s ($58.19) stock price. Cognex Corporation has been the topic of 22 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Canaccord Genuity maintained Cognex Corporation (NASDAQ:CGNX) rating on Tuesday, August 2. Canaccord Genuity has “Hold” rating and $49 price target. Canaccord Genuity downgraded Cognex Corporation (NASDAQ:CGNX) rating on Tuesday, August 4. Canaccord Genuity has “Hold” rating and $35 price target. CSLA downgraded the shares of CGNX in a report on Thursday, March 24 to “Underperform” rating. The stock has “Market Perform” rating given by Raymond James on Friday, March 11. The company was maintained on Tuesday, August 4 by Needham. The firm has “Hold” rating given on Tuesday, June 14 by Canaccord Genuity. The firm has “Hold” rating by Canaccord Genuity given on Tuesday, November 3. The rating was initiated by FBR Capital on Wednesday, May 11 with “Market Perform”. The firm has “Buy” rating given on Wednesday, November 18 by Canaccord Genuity. The rating was maintained by Needham with “Buy” on Tuesday, November 1.
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 2016 Q2. 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.
Ibm Retirement Fund has invested 0.01% of its portfolio in Cognex Corporation (NASDAQ:CGNX). Proshare Advsrs Limited Liability holds 7,472 shares or 0% of its portfolio. Fdx Advsrs accumulated 7,433 shares or 0.01% of the stock. Independent Portfolio Consultants has invested 0.01% of its portfolio in Cognex Corporation (NASDAQ:CGNX). Blackrock Inv Management Ltd Liability Corporation has 240,720 shares for 0.01% of their US portfolio. Hall Laurie J Trustee accumulated 0.01% or 390 shares. The New Jersey-based Lord Abbett & Lc has invested 0.05% in Cognex Corporation (NASDAQ:CGNX). State Treasurer State Of Michigan has 34,100 shares for 0.01% of their US portfolio. Moreover, Ameriprise Financial has 0.01% invested in Cognex Corporation (NASDAQ:CGNX) for 210,837 shares. Panagora Asset Management reported 6,800 shares or 0% of all its holdings. First Tru Advsrs Limited Partnership holds 117,897 shares or 0.02% of its portfolio. Pub Employees Retirement Association Of Colorado has invested 0.1% of its portfolio in Cognex Corporation (NASDAQ:CGNX). Da Davidson Co holds 0.01% of its portfolio in Cognex Corporation (NASDAQ:CGNX) for 5,595 shares. Shell Asset Mgmt holds 0.22% or 219,116 shares in its portfolio. Sei Invs reported 568 shares or 0% of all its holdings.
Insider Transactions: Since May 18, 2016, the stock had 0 insider buys, and 12 sales for $18.85 million net activity. On Friday, August 5 miller jeffrey benjamin sold $990,248 worth of the stock or 20,000 shares. $704,908 worth of Cognex Corporation (NASDAQ:CGNX) shares were sold by MORIN RICHARD. Shares for $322,866 were sold by WASSERMAN REUBEN. BANUCCI EUGENE G bought $77,606 worth of Cognex Corporation (NASDAQ:CGNX) on Wednesday, May 18. Shares for $363,550 were sold by ALIAS PATRICK on Thursday, August 4. Willett Robert also sold $5.99M worth of Cognex Corporation (NASDAQ:CGNX) on Wednesday, August 3. 20,000 shares were sold by KRANTZ THEODOR, worth $1.00 million on Thursday, August 18.
More notable recent Cognex Corporation (NASDAQ:CGNX) news were published by: Fool.com which released: “Cognex Corporation Soars After Strong Earnings” on May 03, 2016, also Fool.com with their article: “Cognex Corporation Does It Again” published on August 02, 2016, Fool.com published: “Cognex Corporation Repeats a Recurring Theme” on February 11, 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’s Earnings Promise Volatility” with publication date: February 08, 2016.
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.
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