Here’s Why Carillon Tower Advisers Remains Positive on Cognex Corp. (CGNX)

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The second quarter witnessed a poor overall performance of mid-cap stocks. The Russell Midcap Growth Index was down 21.07% and fell more compared to its counterpart Russell Midcap Value Index (down 14.68%). In the quarter, all sector returns were negative for the Russell Midcap Growth Index due to market volatility. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers discussed stocks like Cognex Corporation (NASDAQ:CGNX) in its second quarter 2022 investor letter. Headquartered in Natick, Massachusetts, Cognex Corporation (NASDAQ:CGNX) is the manufacturer of machine vision technology. On September 2, 2022, Cognex Corporation (NASDAQ:CGNX) stock closed at $41.88 per share. One-month return of Cognex Corporation (NASDAQ:CGNX) was -12.59% and its shares lost 52.66% of their value over the last 52 weeks. Cognex Corporation (NASDAQ:CGNX) has a market capitalization of $7.262 billion.

Here is what Carillon Tower Advisers specifically said about Cognex Corporation (NASDAQ:CGNX):

“Cognex Corporation (NASDAQ:CGNX), a provider of machine vision products for logistics and equipment used in factory automation, posted solid earnings results for the quarter, although the outlook disappointed. A number of the company’s customers are dealing with supply chain delays and staffing shortages, and some automation projects have been pushed out. We remain positive on the potential for a rebound later in the year, especially for the logistics, consumer electronics, and electric vehicle markets.”

Cognex Corporation (NASDAQ:CGNX) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Cognex Corporation (NASDAQ:CGNX) was held by 29 hedge fund portfolios at the end of the second quarter compared to 25 in the previous quarter.

We discussed Cognex Corporation (NASDAQ:CGNX) in another article and shared the top stock picks of Leon Shaulov’s Maplelane Capital. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.