What smart money is saying about Cognex Corp.
3 funds in our archive have pitched Cognex Corp., most recently Conestoga Capital Advisors Small Cap, SMid Cap & Micro Cap Strategies in September 2026.
Cognex Corporation specializes in machine vision technology, offering solutions that interpret and process visual data to streamline and automate production and logistics operations globally. Their advanced vision systems enable the automated manufacturing and tracking of individual components or finished goods, such as mobile devices, pharmaceutical containers, and automotive parts. This is achieved by precisely locating, recognizing, examining, and gauging items throughout their journey from production to delivery. The company provides a comprehensive software portfolio, including VisionPro, a collection of patented tools for sophisticated development; QuickBuild, an intuitive platform enabling users to create vision applications via a graphical, flowchart interface; and its specialized deep learning vision software. Beyond software, their offerings encompass robust vision sensors for tasks like ensuring component presence and accurate sizing, alongside the versatile In-Sight series of integrated vision systems and sensors. These tools support a variety of critical inspection functions, such as pinpointing part locations, confirming identities, precise dimensioning, validating assembly, and guiding robotics. Another key product is DataMan, their line of image-based barcode readers and verification systems. Cognex serves a diverse clientele across various sectors, including consumer electronics, automotive manufacturing, general consumer goods, food and beverage processing, pharmaceuticals, and medical device production. Their products are distributed directly and through a global network of partners and system integrators. Established in 1981, Cognex Corporation maintains its headquarters in Natick, Massachusetts.
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Fund signal · last 12 months
7 lettersFunds are split between buying and selling
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q3 2025 and Q3 2026, 9 fund letters reported a position in Cognex Corp., with 3 buys (opened or added) and 3 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 5 | 2 | 1 | 2 |
| Q2 2026 | 2 | 0 | 2 | 0 |
| Q3 2025 | 2 | 1 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 9 positions · 8 moves
- September 2026
“Cognex is a leading manufacturer of machine vision systems used to automate and optimize processes across manufacturing and logistics. Recent results were strong, with constant-currency revenue growing 16% and continued margin expansion on the back of strong demand. We believe Cognex is well positioned to benefit from a strengthening automation cycle, particularly as aggressive data center construction puts pressure on supply chains, creating a potential entry point for Cognex. During the quarter, the company announced the acquisition of RealSense, which owns a material portion of the robotic perception market. While the acquisition introduces some near-term dilution and execution risk, we believe the deal enhances Cognex’s long- term growth opportunities, and we added to our position following the pullback.”
Cognex Corp. - September 2026
“Cognex is a leading manufacturer of machine vision systems used to automate and optimize processes across manufacturing and logistics. Recent results were strong, with constant-currency revenue growing 16% and continued margin expansion on the back of strong demand. We believe Cognex is well positioned to benefit from a strengthening automation cycle, particularly as aggressive data center construction puts pressure on supply chains, creating a potential entry point for Cognex. During the quarter, the company announced the acquisition of RealSense, which owns a material portion of the robotic perception market. While the acquisition introduces some near-term dilution and execution risk, we believe the deal enhances Cognex’s long-term growth opportunities, and we added to our position following the pullback.”
Cognex Corp. - September 2026
“July’s market rotation favoured value, which was a headwind for our growth-biased portfolios. This included some profit-taking in longer-term AI winners such as Seagate Technology and Applied Materials as well as software and automation plays Omnicell, JBT Marel and Cognex.”
Cognex Corp. - September 2026
“1. Cognex Corp. (CGNX) CGNX is a global leader in industrial machine vision technology, providing sophisticated cameras, sensors, software, and AI-enabled inspection systems. This former holding has a new CEO, and the business maintains its high-quality characteristics, including its leading market position, proprietary technology, high barriers to entry, attractive margins, and strong balance sheet.”
Cognex Corp. - September 2026
“1. Cognex Corp. (CGNX) CGNX is a global leader in industrial machine vision technology, providing sophisticated cameras, sensors, software, and AI-enabled inspection systems. This former holding has a new CEO, and the business maintains its high-quality characteristics, including its leading market position, proprietary technology, high barriers to entry, attractive margins, and strong balance sheet.”
Cognex Corp. - TrimmedBaron Small Cap FundJune 2026
“During the quarter, our largest sales were trims of some of our largest and best performing stocks ( Vertiv Holdings Co , Legence Corp. , The Cheesecake Factory Incorporated , and Cognex Corporation ).”
Cognex Corp. - TrimmedBaron Small Cap StrategyJune 2026
“During the quarter, our largest sales were trims of some of our largest and best performing stocks (Vertiv Holdings Co, Legence Corp., The Cheesecake Factory Incorporated, and Cognex Corporation).”
Cognex Corp. - September 2025
“Returns: Contributors and Detractors Among the contributors to performance in the third quarter of 2025 were Xometry (XMTR) and Cognex (CGNX).”
Cognex Corp. - New positionArtisan US Small Cap Growth StrategySeptember 2025
“Portfolio Activity During the quarter, we initiated new GardenSM positions in Cognex, Waystar and Ollie's Bargain Outlet.”
Cognex Corp.
Fund coverage · 3 theses
Cognex Corp. is a leader in machine vision with a strong moat, diversified demand, and a more durable long-term growth profile.
Read the full thesis- Artisan Partners Global Discovery FundSeptember 2026
Cognex makes machine vision systems and should benefit from a strengthening automation cycle and the RealSense acquisition.
Read the full thesis - Mairs and Power Growth FundSeptember 2025
Cognex Corporation is well-positioned to lead the rapid advancement of machine vision technology driven by AI, benefiting from increased manufacturing onshoring and demand for factory automation.
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