Oppenheimer Asset Management Inc. Boosts Stock Holdings in Cognex Corporation $CGNX

Oppenheimer Asset Management Inc. raised its holdings in Cognex Corporation (NASDAQ:CGNX) by 13.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 318,984 shares of the scientific and technical instruments company’s stock after purchasing an additional 37,405 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.19% of Cognex worth $14,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its position in Cognex by 12.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,132 shares of the scientific and technical instruments company’s stock worth $68,000 after acquiring an additional 243 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Cognex by 1.8% in the 3rd 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 purchasing an additional 256 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Cognex by 10.6% in the second quarter. First Horizon Advisors Inc. now owns 2,788 shares of the scientific and technical instruments company’s stock valued at $88,000 after purchasing an additional 268 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Cognex by 0.6% during the 3rd quarter. Arizona State Retirement System now owns 49,651 shares of the scientific and technical instruments company’s stock worth $2,249,000 after buying an additional 285 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its position in shares of Cognex by 8.1% in the 2nd quarter. Centaurus Financial Inc. now owns 4,021 shares of the scientific and technical instruments company’s stock worth $128,000 after buying an additional 303 shares in the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CGNX shares. KeyCorp reissued an “overweight” rating and set a $50.00 price objective on shares of Cognex in a research note on Friday, October 31st. Truist Financial cut their price objective on shares of Cognex from $45.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Robert W. Baird set a $45.00 price target on Cognex in a report on Friday, October 31st. DA Davidson set a $38.00 target price on Cognex and gave the company a “neutral” rating in a research note on Monday, November 3rd. Finally, UBS Group reiterated a “buy” rating and set a $58.00 price objective on shares of Cognex in a report on Friday, October 31st. Eight investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cognex has a consensus rating of “Hold” and a consensus price target of $45.64.

Cognex Trading Up 3.2%

Shares of CGNX stock opened at $43.72 on Tuesday. The company’s fifty day simple moving average is $38.42 and its 200-day simple moving average is $41.11. Cognex Corporation has a 52 week low of $22.67 and a 52 week high of $49.76. The company has a market cap of $7.33 billion, a PE ratio of 68.31 and a beta of 1.53.

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.