Cognex Stake Increase: Nordea Boosts Position

Snack-Sized Version:

Nordea Investment Management AB significantly increased its stake in Cognex. The firm purchased 949,599 shares, which boosted its position by 13.4%. As a result, Nordea now owns approximately 4.78% of the company. This purchase is valued at over $361 million. Furthermore, this move comes after Cognex reported strong third-quarter results. The company beat earnings estimates and grew revenue by 18% year-over-year. Overall, institutional investors own a substantial 88.12% of Cognex stock. This purchase therefore reinforces positive institutional sentiment for the machine vision provider.

Read the Full Meal:

Nordea Investment Management AB raised its position in Cognex Corporation by 13.4%. The firm acquired an additional 949,599 shares during the third quarter. Consequently, its total holdings now stand at over 8 million shares. This stake represents 4.78% of Cognex and was worth $361.4 million. In addition, this significant purchase follows a strong earnings report from Cognex. The company recently posted Q3 EPS of $0.33, beating analyst estimates of $0.27. Revenue also grew 18% to $264 million. Ultimately, the move by Nordea highlights growing institutional confidence in the company’s performance.

Nordea Boosts Cognex Stake Amid Strong Earnings

• Institutional Stake: Nordea Investment Management now owns 4.78% of Cognex after its recent purchase.
• Earnings Beat: The company reported Q3 EPS of $0.33, which topped consensus estimates by $0.06.
• Analyst View: Analysts currently assign the stock a consensus ‘Hold’ rating with a $45.64 price target.
• Insider Sale: In contrast, a company director sold 6,704 shares of stock on October 21st.

Why this can matter for NASDAQ:CGNX holders

• Institutional Conviction: Nordea’s large purchase signals strong confidence from a major institutional investor.
• Ownership Base: Furthermore, high institutional ownership of 88.12% provides a stable shareholder base.
• Performance Signal: The investment follows a quarter where Cognex beat earnings and grew revenue significantly.

For more details, see CGNX SEC filings.

What to watch next

1. Q4 Earnings Report: Monitor the company’s next quarterly earnings release, guided for $0.19 to $0.24 EPS.
2. SEC Filings: Watch for upcoming 13F filings from other institutions to gauge broader fund sentiment.

Mini FAQ

Which firm recently increased its stake in Cognex?
Nordea Investment Management AB purchased 949,599 shares. As a result, it increased its position by 13.4% during the third quarter.

How did Cognex perform in its latest earnings report?
Cognex reported third-quarter revenue of $264 million. This was an 18% increase year-over-year, and its EPS of $0.33 beat estimates.

What do analysts think about Cognex stock?
The stock has a consensus ‘Hold’ rating from analysts. However, the average price target is $45.64, suggesting some potential upside.

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