Activist investor Engaged Capital has built a “sizable stake” in Cognex (CGNX) and is pushing the maker of machine vision systems to cut costs, reported Reuters. Engaged’s founder and chief investment officer Glenn Welling said on Tuesday at the 13D Monitor Active-Passive Investment Summit in New York that “this is an AI company without the AI valuation,” arguing that cost cutting could help the stock price nearly double in the next two years.
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