Thrivent Financial for Lutherans Buys 178,911 Shares of Cognex Corporation $CGNX

Thrivent Financial for Lutherans grew its stake in Cognex Corporation (NASDAQ:CGNX) by 203.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 266,954 shares of the scientific and technical instruments company’s stock after purchasing an additional 178,911 shares during the period. Thrivent Financial for Lutherans’ holdings in Cognex were worth $12,093,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC acquired a new stake in Cognex in the third quarter valued at approximately $26,000. Geneos Wealth Management Inc. boosted its holdings in shares of Cognex by 402.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 736 shares in the last quarter. Penserra Capital Management LLC acquired a new position in Cognex in the 2nd quarter worth about $29,000. TD Waterhouse Canada Inc. bought a new stake in shares of Cognex during the second quarter worth about $29,000. Finally, First Horizon Corp bought a new stake in Cognex during the 3rd quarter worth approximately $38,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cognex Stock Down 0.3%

Cognex stock opened at $40.73 on Thursday. The company has a market capitalization of $6.83 billion, a PE ratio of 63.64 and a beta of 1.53. Cognex Corporation has a 12-month low of $22.67 and a 12-month high of $49.76. The firm’s fifty day moving average is $38.20 and its 200 day moving average is $40.90.

Wall Street Analyst Weigh In

A number of research firms have commented on CGNX. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $35.00 price target (down previously from $45.00) on shares of Cognex in a research report on Wednesday, December 3rd. KeyCorp reiterated an “overweight” rating and issued a $50.00 target price on shares of Cognex in a report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Cognex in a report on Monday, December 29th. DA Davidson set a $38.00 price target on shares of Cognex and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group upgraded shares of Cognex from a “sell” rating to a “buy” rating and increased their price objective 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 given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.64.

Cognex Company Profile

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.