Needham Reiterates a Buy Rating on Cognex Corp

By Ryan Adsit

In a report released today, James Ricchiuti from Needham reiterated a Buy rating on Cognex Corp (NASDAQ: CGNX), with a price target of $80. The company’s shares closed yesterday at $70.45, close to its 52-week high of $70.67.

According to, Ricchiuti is a 5-star analyst with an average return of 11.2% and a 62.1% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Teledyne Technologies Inc, Electronics for Imaging, and Samsung Electronics.

Cognex Corp has an analyst consensus of Moderate Buy, with a price target consensus of $80.

Cognex Corp’s market cap is currently $6.04B and has a P/E ratio of 74.04. The company has a book value ratio of 6.3935.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. Last month, Anthony Sun, a Director at CGNX bought 15,000 shares for a total of $162,450.

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Cognex Corp. provides vision systems, vision software, vision sensors and surface inspection systems used in manufacturing automation. It also provides industrial ID readers. The company operates through Modular Vision Systems Division. The Modular Vision Systems Division develops, manufactures, and markets modular vision systems and ID products to automate the manufacture and tracking of discrete items by locating, identifying, inspecting, and measuring them during the manufacturing process. The company was founded by Robert J. Shillman, William Silver and Marilyn Matz in 1981 and is headquartered in Natick, MA.