Sit Investment Associates Inc. Acquires New Stake in Cognex Co. (NASDAQ:CGNX)

Sit Investment Associates Inc. bought a new position in Cognex Co. (NASDAQ:CGNX) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 16,100 shares of the scientific and technical instruments company’s stock, valued at approximately $985,000.

Other institutional investors also recently made changes to their positions in the company. AHL Partners LLP grew its position in shares of Cognex by 0.8% during the second quarter. AHL Partners LLP now owns 2,842 shares of the scientific and technical instruments company’s stock valued at $241,000 after purchasing an additional 23 shares in the last quarter. Stifel Financial Corp grew its position in shares of Cognex by 2.4% during the second quarter. Stifel Financial Corp now owns 15,563 shares of the scientific and technical instruments company’s stock valued at $1,316,000 after purchasing an additional 364 shares in the last quarter. LS Investment Advisors LLC grew its position in shares of Cognex by 5.1% during the third quarter. LS Investment Advisors LLC now owns 8,996 shares of the scientific and technical instruments company’s stock valued at $992,000 after purchasing an additional 439 shares in the last quarter. Intrust Bank NA grew its position in shares of Cognex by 7.7% during the third quarter. Intrust Bank NA now owns 6,187 shares of the scientific and technical instruments company’s stock valued at $683,000 after purchasing an additional 441 shares in the last quarter. Finally, FDx Advisors Inc. grew its position in Cognex by 7.5% in the third quarter. FDx Advisors Inc. now owns 6,416 shares of the scientific and technical instruments company’s stock worth $708,000 after acquiring an additional 447 shares in the last quarter. 42.25% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on CGNX. ValuEngine lowered Cognex from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Canaccord Genuity boosted their target price on Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, October 31st. BidaskClub raised shares of Cognex from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research raised shares of Cognex from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Wednesday, November 1st. Finally, Robert W. Baird lifted their price target on shares of Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $63.00.

In other Cognex news, CEO Robert Willett sold 100,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $127.19, for a total value of $12,719,000.00. Following the sale, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at $12,719,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Benjamin Miller sold 3,750 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $134.48, for a total transaction of $504,300.00. Following the completion of the sale, the director now directly owns 3,750 shares in the company, valued at $504,300. The disclosure for this sale can be found here. Insiders have sold 143,750 shares of company stock worth $18,540,975 over the last three months. Corporate insiders own 5.60% of the company’s stock.

Cognex Co. (CGNX) opened at $69.00 on Tuesday. The stock has a market capitalization of $11,959.34, a price-to-earnings ratio of 50.92 and a beta of 1.51. Cognex Co. has a 12-month low of $32.05 and a 12-month high of $72.99.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The business had revenue of $259.74 million for the quarter, compared to the consensus estimate of $255.95 million. Cognex had a return on equity of 23.31% and a net margin of 34.77%. The business’s quarterly revenue was up 75.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. research analysts predict that Cognex Co. will post 1.39 EPS for the current fiscal year.

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Cognex Profile

Cognex Corporation (Cognex) 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 operates through the machine vision technology segment. 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.

Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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