Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of visual data analysis expert Cognex
So what: Analyst firm Piper Jaffray just downgraded Cognex from buy to hold, citing high risk and an overheated valuation. Much of Cognex's sales come from the semiconductor industry, and after scary reports from Intel
Now what: Cognex did indeed look a bit overvalued heading into this downgrade, share prices having risen 83% over the last year to leave rivals such as AMETEK
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