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Downgrade Alert for Cognex (CGNX)

By Shiri Gupta

Cognex (NASDAQ:CGNX) was downgraded from Buy to Hold at Canaccord Genuity today. The stock closed yesterday at $41.89 on volume of 812,000 shares, above average daily volume of 526,000.

Cognex (NASDAQ:CGNX) is currently priced 0.3% above its average consensus analyst price target of $41.75. Cognex shares have support at the 50-day moving average (MA) of $38.44 and additional support at the 200-day MA of $36.20.

Cognex Corporation designs, develops, manufactures, and markets machine vision systems. The Company's systems are used to automate the manufacture of a variety of discrete items and to assure their quality. Cognex has regional offices located throughout North America, Japan, Europe, and Southeast Asia.

Over the past year, Cognex has traded in a range of $28.01 to $51.95 and closed yesterday at $41.89, 50% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.4%.

SmarTrend is tracking the current trend status for Cognex and will alert subscribers who have CGNX in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades cognex

Ticker(s): CGNX