Cognex Corporation $CGNX Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC reduced its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 36.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,443,896 shares of the scientific and technical instruments company’s stock after selling 821,869 shares during the period. Cognex makes up approximately 2.7% of Brown Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Brown Capital Management LLC’s holdings in Cognex were worth $65,408,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB grew its holdings in Cognex by 13.4% during the third quarter. Nordea Investment Management AB now owns 8,025,371 shares of the scientific and technical instruments company’s stock worth $361,382,000 after acquiring an additional 949,599 shares during the period. Disciplined Growth Investors Inc. MN boosted its position in Cognex by 0.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,768,716 shares of the scientific and technical instruments company’s stock worth $151,264,000 after purchasing an additional 40,927 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Cognex by 43.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,024,355 shares of the scientific and technical instruments company’s stock worth $137,003,000 after purchasing an additional 922,149 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Cognex by 17.9% during the 2nd quarter. Squarepoint Ops LLC now owns 2,724,331 shares of the scientific and technical instruments company’s stock valued at $86,416,000 after purchasing an additional 413,088 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cognex by 0.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,029,648 shares of the scientific and technical instruments company’s stock valued at $64,366,000 after purchasing an additional 6,801 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Price Performance

Shares of NASDAQ:CGNX opened at $39.76 on Tuesday. The business’s 50 day moving average price is $38.08 and its 200-day moving average price is $40.85. Cognex Corporation has a 1 year low of $22.67 and a 1 year high of $49.76. The firm has a market capitalization of $6.66 billion, a PE ratio of 62.13 and a beta of 1.53.

Analyst Ratings Changes

A number of research firms have weighed in on CGNX. KeyCorp reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Cognex in a report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Cognex in a research note on Monday, December 29th. DA Davidson set a $38.00 price target on Cognex and gave the stock a “neutral” rating in a report on Monday, November 3rd. Needham & Company LLC raised their price objective on Cognex from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Truist Financial reduced their target price on Cognex from $45.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.64.

Cognex Company 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.