Y Intercept Hong Kong Ltd Sells 59,312 Shares of Cognex Corporation $CGNX

Y Intercept Hong Kong Ltd decreased its stake in Cognex Corporation (NASDAQ:CGNX) by 90.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,290 shares of the scientific and technical instruments company’s stock after selling 59,312 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Cognex were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CGNX. Nordea Investment Management AB lifted its stake in shares of Cognex by 148.5% in the 2nd quarter. Nordea Investment Management AB now owns 7,075,772 shares of the scientific and technical instruments company’s stock valued at $223,594,000 after acquiring an additional 4,228,729 shares during the last quarter. AQR Capital Management LLC increased its holdings in Cognex by 18,810.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,794,649 shares of the scientific and technical instruments company’s stock worth $56,657,000 after purchasing an additional 1,785,159 shares in the last quarter. Mawer Investment Management Ltd. bought a new position in Cognex in the second quarter valued at about $45,723,000. Norges Bank acquired a new stake in shares of Cognex during the second quarter valued at about $38,889,000. Finally, Electron Capital Partners LLC grew its holdings in shares of Cognex by 286.5% during the second quarter. Electron Capital Partners LLC now owns 1,337,608 shares of the scientific and technical instruments company’s stock worth $42,429,000 after purchasing an additional 991,567 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CGNX. Needham & Company LLC upped their price objective on Cognex from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Cognex in a research report on Monday, December 29th. KeyCorp reiterated an “overweight” rating and set a $50.00 price target on shares of Cognex in a report on Friday, October 31st. Truist Financial decreased their price objective on Cognex from $45.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Finally, The Goldman Sachs Group raised Cognex from a “sell” rating to a “buy” rating and raised their target price for the stock from $42.00 to $50.00 in a research report on Tuesday, December 16th. 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.64.

Cognex Trading Down 3.0%

Shares of CGNX opened at $39.49 on Friday. The firm’s fifty day simple moving average is $38.22 and its two-hundred day simple moving average is $40.89. Cognex Corporation has a 12 month low of $22.67 and a 12 month high of $49.76. The stock has a market capitalization of $6.62 billion, a P/E ratio of 61.70 and a beta of 1.53.

About Cognex

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.