Cognex Corp. (NASDAQ:CGNX)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $43.41, but opened at $43.48. Cognex Corp. shares last traded at $43.77, with a volume of 46,359 shares.

A number of research firms have issued reports on CGNX. Canaccord Genuity downgraded Cognex Corp. from a “buy” rating to a “hold” rating and set a $45.00 price objective for the company. in a report on Tuesday, June 14th. They noted that the move was a valuation call. Sanford C. Bernstein began coverage on Cognex Corp. in a report on Monday, June 6th. They issued a “market perform” rating and a $40.10 price objective for the company. Zacks Investment Research upgraded Cognex Corp. from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, May 24th. FBR & Co reiterated a “marketperform” rating and issued a $42.00 price objective on shares of Cognex Corp. in a report on Tuesday, May 10th. Finally, TheStreet downgraded Cognex Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Cognex Corp. currently has a consensus rating of “Hold” and a consensus target price of $43.76.

The company’s 50 day moving average is $42.96 and its 200-day moving average is $38.18. The firm has a market cap of $3.73 billion and a P/E ratio of 21.21.

Cognex Corp. (NASDAQ:CGNX) last issued its earnings results on Monday, May 2nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The company earned $96.20 million during the quarter, compared to analysts’ expectations of $93.06 million. During the same quarter in the previous year, the company earned $0.23 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities analysts predict that Cognex Corp. will post $1.21 EPS for the current fiscal year.

In other Cognex Corp. news, Director Patrick Alias sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $44.59, for a total transaction of $334,425.00. Following the transaction, the director now owns 7,500 shares in the company, valued at $334,425. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugene G. Banucci purchased 2,000 shares of the stock in a transaction on Wednesday, May 18th. The shares were acquired at an average price of $38.80 per share, for a total transaction of $77,600.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $77,600. The disclosure for this purchase can be found here.

A number of institutional investors have modified their holdings of CGNX. Rhumbline Advisers increased its position in shares of Cognex Corp. by 1.2% in the fourth quarter. Rhumbline Advisers now owns 153,254 shares of the company’s stock worth $5,175,000 after buying an additional 1,790 shares in the last quarter. State of Wisconsin Investment Board increased its position in shares of Cognex Corp. by 0.5% in the fourth quarter. State of Wisconsin Investment Board now owns 412,151 shares of the company’s stock worth $13,918,000 after buying an additional 2,210 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Cognex Corp. by 5.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 78,655 shares of the company’s stock worth $2,656,000 after buying an additional 3,780 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Cognex Corp. by 24.8% in the fourth quarter. TD Asset Management Inc. now owns 59,900 shares of the company’s stock worth $2,023,000 after buying an additional 11,900 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Cognex Corp. by 7.9% in the fourth quarter. Bank of Montreal Can now owns 229,815 shares of the company’s stock worth $7,761,000 after buying an additional 16,834 shares in the last quarter.

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 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.

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