Short Interest in Cognex Co. (NASDAQ:CGNX) Expands By 17.2%

Cognex Co. (NASDAQ:CGNX - Get Free Report) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 5,100,000 shares, a growth of 17.2% from the February 13th total of 4,350,000 shares. Currently, 3.0% of the company's stock are short sold. Based on an average daily trading volume, of 1,410,000 shares, the short-interest ratio is currently 3.6 days.

Cognex Stock Down 0.7 %

Shares of Cognex stock traded down $0.23 during trading on Friday, reaching $30.92. The company's stock had a trading volume of 4,113,451 shares, compared to its average volume of 1,203,043. The business has a 50 day moving average price of $35.61 and a 200-day moving average price of $37.76. Cognex has a 12-month low of $30.04 and a 12-month high of $53.13. The company has a market capitalization of $5.24 billion, a P/E ratio of 50.69 and a beta of 1.43.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Cognex had a return on equity of 5.65% and a net margin of 11.61%. Research analysts predict that Cognex will post 0.61 EPS for the current fiscal year.

Cognex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. Cognex's payout ratio is 52.46%.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CGNX shares. Hsbc Global Res lowered shares of Cognex from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. HSBC downgraded shares of Cognex from a "buy" rating to a "hold" rating and set a $33.00 price objective on the stock. in a research report on Friday, February 21st. Robert W. Baird reduced their target price on shares of Cognex from $42.00 to $38.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. The Goldman Sachs Group decreased their target price on shares of Cognex from $39.00 to $35.00 and set a "sell" rating for the company in a research note on Tuesday, February 18th. Finally, Stephens restated an "overweight" rating and issued a $55.00 price target on shares of Cognex in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $44.83.

Insider Activity at Cognex

In related news, EVP Carl Gerst sold 6,803 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $32.73, for a total value of $222,662.19. Following the completion of the sale, the executive vice president now directly owns 4,566 shares of the company's stock, valued at $149,445.18. This represents a 59.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Cognex

A number of institutional investors and hedge funds have recently modified their holdings of CGNX. PNC Financial Services Group Inc. boosted its position in Cognex by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,836 shares of the scientific and technical instruments company's stock worth $281,000 after purchasing an additional 262 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Cognex by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 5,616 shares of the scientific and technical instruments company's stock worth $201,000 after buying an additional 270 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Cognex by 50.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock worth $32,000 after buying an additional 295 shares in the last quarter. Global Retirement Partners LLC grew its stake in Cognex by 30.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,346 shares of the scientific and technical instruments company's stock valued at $48,000 after acquiring an additional 317 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Cognex by 0.6% during the 4th quarter. Arizona State Retirement System now owns 49,749 shares of the scientific and technical instruments company's stock valued at $1,784,000 after acquiring an additional 320 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.