Notable Runner: What’s Next for Cognex Corporation After Making 52-Week High?

Notable Runner: What's Next for Cognex Corporation After Making 52 Week High?

The stock of Cognex Corporation (NASDAQ:CGNX) hit a new 52-week high and has $89.23 target or 51.00% above today’s $59.09 share price. The 6 months bullish chart indicates low risk for the $5.21 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $89.23 price target is reached, the company will be worth $2.66B 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 112,478 shares traded hands. Cognex Corporation (NASDAQ:CGNX) has risen 56.77% since April 19, 2016 and is uptrending. It has outperformed by 52.91% 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. Cognex Corporation has been the topic of 22 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Tuesday, August 4 by Needham. The firm has “Market Perform” rating by Raymond James given on Friday, March 11. The stock of Cognex Corporation (NASDAQ:CGNX) earned “Buy” rating by Canaccord Genuity on Wednesday, November 18. As per Thursday, March 24, the company rating was downgraded by CSLA. CLSA maintained Cognex Corporation (NASDAQ:CGNX) rating on Tuesday, August 2. CLSA has “Underperform” rating and $55 price target. The rating was upgraded by CLSA to “Outperform” on Monday, November 7. The stock of Cognex Corporation (NASDAQ:CGNX) earned “Market Perform” rating by FBR Capital on Wednesday, May 11. The firm earned “Market Perform” rating on Monday, June 6 by Bernstein. On Tuesday, November 3 the stock rating was downgraded by Credit Agricole to “Outperform”. As per Tuesday, November 3, the company rating was maintained by Canaccord Genuity.

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 decreased to 1 in 2016 Q2. Its down 0.13, from 1.13 in 2016Q1. The ratio worsened, 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.
The Illinois-based Segall Bryant And Hamill Ltd Co has invested 0.01% in Cognex Corporation (NASDAQ:CGNX). Lord Abbett Limited Com has invested 0.05% of its portfolio in Cognex Corporation (NASDAQ:CGNX). First Republic Mngmt reported 4,730 shares or 0% of all its holdings. Carroll Financial has 128 shares for 0% of their US portfolio. Lpl Ltd Llc has 0.01% invested in the company for 18,438 shares. Secor Limited Partnership accumulated 0.09% or 16,632 shares. Granahan Invest Inc Ma holds 0.17% of its portfolio in Cognex Corporation (NASDAQ:CGNX) for 110,441 shares. Credit Agricole S A reported 3,079 shares or 0% of all its holdings. First Mercantile, a Tennessee-based fund reported 23,438 shares. Federated Invsts Incorporated Pa accumulated 0.01% or 57,755 shares. Checchi Capital Advisers Limited Liability Co last reported 0.01% of its portfolio in the stock. Assetmark last reported 988 shares in the company. Twin Management Inc accumulated 0.14% or 42,029 shares. Sg Americas Securities Limited Liability Co accumulated 30,719 shares or 0.01% of the stock. Vantage Invest Advsr Ltd Limited Liability Company, a Pennsylvania-based fund reported 226 shares.

Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 12 sales for $18.85 million net activity. 20,000 shares were sold by KRANTZ THEODOR, worth $1.00M on Thursday, August 18. The insider MORIN RICHARD sold 1,100 shares worth $55,387. 7,500 Cognex Corporation (NASDAQ:CGNX) shares with value of $322,866 were sold by WASSERMAN REUBEN. $363,550 worth of shares were sold by ALIAS PATRICK on Thursday, August 4. $5.57M worth of Cognex Corporation (NASDAQ:CGNX) was sold by Willett Robert on Friday, November 11. The insider miller jeffrey benjamin sold $990,248.

More notable recent Cognex Corporation (NASDAQ:CGNX) news were published by: Fool.com which released: “Cognex Corporation Does It Again” on August 02, 2016, also Fool.com with their article: “Cognex Corporation Soars After Strong Earnings” published on May 03, 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: “3 Things to Look Out for When Cognex Corporation Reports Earnings” with publication date: April 26, 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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