IMC Chicago LLC Makes New $5.76 Million Investment in Cognex Corporation $CGNX

IMC Chicago LLC purchased a new stake in Cognex Corporation (NASDAQ:CGNX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 127,168 shares of the scientific and technical instruments company’s stock, valued at approximately $5,761,000. IMC Chicago LLC owned 0.08% of Cognex at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Cognex by 13.2% in the first quarter. Royal Bank of Canada now owns 200,351 shares of the scientific and technical instruments company’s stock valued at $5,976,000 after acquiring an additional 23,326 shares during the last quarter. Empowered Funds LLC purchased a new stake in Cognex in the first quarter valued at $291,000. Intech Investment Management LLC lifted its stake in shares of Cognex by 24.1% in the 1st quarter. Intech Investment Management LLC now owns 47,444 shares of the scientific and technical instruments company’s stock valued at $1,415,000 after purchasing an additional 9,223 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Cognex by 402.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 736 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in shares of Cognex by 14.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 37,016 shares of the scientific and technical instruments company’s stock worth $1,174,000 after purchasing an additional 4,700 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Stock Down 0.3%

Shares of CGNX stock opened at $40.73 on Thursday. The firm has a 50 day moving average of $38.20 and a two-hundred day moving average of $40.90. The stock has a market capitalization of $6.83 billion, a PE ratio of 63.64 and a beta of 1.53. Cognex Corporation has a 52 week low of $22.67 and a 52 week high of $49.76.

Analyst Ratings Changes

A number of research analysts have commented on CGNX shares. Barclays set a $54.00 target price on shares of Cognex and gave the company an “overweight” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $35.00 price objective (down from $45.00) on shares of Cognex in a report on Wednesday, December 3rd. The Goldman Sachs Group upgraded shares of Cognex from a “sell” rating to a “buy” rating and lifted their target price for the company from $42.00 to $50.00 in a report on Tuesday, December 16th. DA Davidson set a $38.00 price target on Cognex and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, UBS Group restated a “buy” rating and set a $58.00 price target on shares of Cognex in a research report on Friday, October 31st. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.