Cognex Co. (NASDAQ:CGNX - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as $29.87 and last traded at $29.90, with a volume of 316021 shares trading hands. The stock had previously closed at $30.74.
Analyst Ratings Changes
CGNX has been the topic of several recent research reports. Robert W. Baird cut their price target on Cognex from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group reduced their price target on shares of Cognex from $39.00 to $35.00 and set a "sell" rating for the company in a research report on Tuesday, February 18th. Truist Financial restated a "hold" rating and set a $37.00 price objective (down previously from $43.00) on shares of Cognex in a report on Friday, February 14th. Needham & Company LLC reduced their price objective on shares of Cognex from $47.00 to $41.00 and set a "buy" rating for the company in a report on Friday, February 14th. Finally, Hsbc Global Res lowered shares of Cognex from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, seven have assigned 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 stock presently has an average rating of "Hold" and an average target price of $44.83.
Read Our Latest Stock Analysis on Cognex
Cognex Price Performance
The firm has a market capitalization of $5.08 billion, a P/E ratio of 49.20 and a beta of 1.43. The stock has a fifty day moving average of $34.64 and a 200 day moving average of $37.44.
Cognex (NASDAQ:CGNX - Get Free Report) last released its earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Cognex had a return on equity of 5.65% and a net margin of 11.61%. Equities analysts forecast that Cognex Co. will post 0.61 EPS for the current fiscal year.
Cognex Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.32 annualized dividend and a dividend yield of 1.07%. Cognex's payout ratio is currently 52.46%.
Insider Activity at Cognex
In other Cognex news, EVP Carl Gerst sold 6,803 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $32.73, for a total transaction of $222,662.19. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by company insiders.
Institutional Trading of Cognex
Several hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in Cognex during the 4th quarter valued at $29,000. SRS Capital Advisors Inc. raised its stake in shares of Cognex by 50.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock valued at $32,000 after purchasing an additional 295 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in Cognex by 129.9% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company's stock worth $36,000 after purchasing an additional 569 shares in the last quarter. Clean Yield Group grew its holdings in Cognex by 1,686.7% during the 4th quarter. Clean Yield Group now owns 1,072 shares of the scientific and technical instruments company's stock valued at $38,000 after buying an additional 1,012 shares in the last quarter. Finally, Principal Securities Inc. increased its position in shares of Cognex by 50.2% during the fourth quarter. Principal Securities Inc. now owns 1,047 shares of the scientific and technical instruments company's stock valued at $38,000 after buying an additional 350 shares during the period. Institutional investors own 88.12% of the company's stock.
About Cognex
(
Get Free Report)
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.
Further Reading
Before you consider Cognex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cognex wasn't on the list.
While Cognex currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
