Cognex Corp. (CGNX, Financial), a leading provider of machine vision systems, rose 38.4% in the quarter. Cognex beat estimates and raised guidance citing strength in its factory automation segment, especially its "product ID" offerings. The company announced important orders from global logistics customers and accelerating sales to China, both new markets with big potential. We continue to like the company's prospects, but we did trim our position in the quarter with the stock so strong.
From Ron Baron’s Baron Funds third quarter 2013 report.
From Ron Baron’s Baron Funds third quarter 2013 report.
