Needham & Company LLC cut shares of Cognex Co. (NDAQ:CGNX) from a buy rating to a hold rating in a research report released on Wednesday morning.

Shares of Cognex (NDAQ:CGNX) opened at 80.81 on Wednesday. Cognex has a 52 week low of $35.15 and a 52 week high of $81.41. The stock’s 50 day moving average is $74.66 and its 200 day moving average is $61.53. The stock has a market capitalization of $6.95 billion and a PE ratio of 47.06.

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About Cognex

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 the 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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