Cognex Co. (CGNX) Stake Boosted by Louisiana State Employees Retirement System

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Louisiana State Employees Retirement System grew its position in shares of Cognex Co. (NASDAQ:CGNX) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,700 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Cognex were worth $2,083,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CGNX. BlackRock Inc. raised its stake in shares of Cognex by 6.0% during the first quarter. BlackRock Inc. now owns 16,708,782 shares of the scientific and technical instruments company’s stock valued at $868,691,000 after acquiring an additional 940,307 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in shares of Cognex by 949.3% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 848,753 shares of the scientific and technical instruments company’s stock valued at $44,126,000 after acquiring an additional 767,865 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Cognex by 39.5% during the first quarter. Franklin Resources Inc. now owns 2,636,056 shares of the scientific and technical instruments company’s stock valued at $137,048,000 after acquiring an additional 745,935 shares during the last quarter. Ownership Capital B.V. bought a new position in shares of Cognex during the first quarter valued at about $36,320,000. Finally, Legal & General Group Plc raised its stake in shares of Cognex by 163.3% during the first quarter. Legal & General Group Plc now owns 796,763 shares of the scientific and technical instruments company’s stock valued at $41,424,000 after acquiring an additional 494,178 shares during the last quarter. 85.22% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on CGNX. Zacks Investment Research raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. BidaskClub raised shares of Cognex from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 7th. JPMorgan Chase & Co. decreased their price target on shares of Cognex from $62.50 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, May 1st. Robert W. Baird decreased their price target on shares of Cognex from $62.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, May 1st. Finally, Raymond James raised shares of Cognex from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 1st. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $57.21.

Shares of CGNX opened at $44.95 on Friday. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 32.17 and a beta of 1.59. Cognex Co. has a fifty-two week low of $39.90 and a fifty-two week high of $72.99.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, April 30th. The scientific and technical instruments company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The business had revenue of $169.57 million for the quarter, compared to analysts’ expectations of $170.93 million. Cognex had a net margin of 21.56% and a return on equity of 23.08%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. equities analysts expect that Cognex Co. will post 1.16 EPS for the current year.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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