Fred Alger Management Has Upped Cognex Corp. (CGNX) Stake By $4.36 Million; Harmonic (HLIT)’s Sentiment Is 0.79

December 7, 2017 - By Marguerite Chambers

Fred Alger Management Inc increased Cognex Corp. (CGNX) stake by 14.49% reported in 2017Q2 SEC filing. Fred Alger Management Inc acquired 51,874 shares as Cognex Corp. (CGNX)’s stock rose 18.92%. The Fred Alger Management Inc holds 409,772 shares with $34.79 million value, up from 357,898 last quarter. Cognex Corp. now has $10.94 billion valuation. The stock increased 1.94% or $1.2 during the last trading session, reaching $63.19. About 1.52 million shares traded. Cognex Corporation (NASDAQ:CGNX) has risen 131.00% since December 7, 2016 and is uptrending. It has outperformed by 114.30% the S&P500.

Harmonic Inc. designs, manufactures, and sells video infrastructure products and system solutions worldwide. The company has market cap of $338.72 million. The Company’s products enable clients to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones. It currently has negative earnings. The firm operates in two divisions, Video and Cable Edge.

Raging Capital Management Llc holds 4.59% of its portfolio in Harmonic Inc. for 4.64 million shares. Rgm Capital Llc owns 6.67 million shares or 3.56% of their US portfolio. Moreover, Olstein Capital Management L.P. has 0.43% invested in the company for 649,401 shares. The New York-based Pinnacle Associates Ltd has invested 0.41% in the stock. Fuller & Thaler Asset Management Inc., a California-based fund reported 2.62 million shares.

The stock increased 2.47% or $0.1 during the last trading session, reaching $4.15. About 321,137 shares traded. Harmonic Inc. (HLIT) has risen 101.17% since December 7, 2016 and is uptrending. It has outperformed by 84.47% the S&P500.

Analysts await Harmonic Inc. (NASDAQ:HLIT) to report earnings on February, 27. They expect $-0.04 EPS, down 233.33% or $0.07 from last year’s $0.03 per share. After $-0.02 actual EPS reported by Harmonic Inc. for the previous quarter, Wall Street now forecasts 100.00% negative EPS growth.

Fred Alger Management Inc decreased Euronet Worldwide Inc (NASDAQ:EEFT) stake by 144,351 shares to 1,472 valued at $129,000 in 2017Q2. It also reduced Advisory Board Co/The (NASDAQ:ABCO) stake by 13,743 shares and now owns 236,330 shares. Chubb Ltd was reduced too.

Among 18 analysts covering Cognex Corporation (NASDAQ:CGNX), 7 have Buy rating, 2 Sell and 9 Hold. Therefore 39% are positive. Cognex Corporation had 34 analyst reports since August 4, 2015 according to SRatingsIntel. CLSA maintained Cognex Corporation (NASDAQ:CGNX) on Tuesday, August 2 with “Underperform” rating. On Tuesday, November 3 the stock rating was maintained by Canaccord Genuity with “Hold”. The stock of Cognex Corporation (NASDAQ:CGNX) has “Hold” rating given on Tuesday, August 4 by Canaccord Genuity. Northcoast downgraded the shares of CGNX in report on Friday, December 2 to “Neutral” rating. The stock of Cognex Corporation (NASDAQ:CGNX) earned “Outperform” rating by CLSA on Monday, November 7. Canaccord Genuity maintained it with “Hold” rating and $120 target in Tuesday, October 31 report. FBR Capital initiated Cognex Corporation (NASDAQ:CGNX) on Wednesday, May 11 with “Market Perform” rating. The stock has “Sell” rating by J.P. Morgan on Wednesday, November 8. The firm earned “Hold” rating on Tuesday, June 14 by Canaccord Genuity. FBR Capital initiated Cognex Corporation (NASDAQ:CGNX) on Wednesday, November 11 with “Mkt Perform” rating.

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