Cognex (NASDAQ:CGNX) Trading Down 4.3% - What's Next?

Cognex Co. (NASDAQ:CGNX - Get Free Report)'s stock price traded down 4.3% during trading on Wednesday . The stock traded as low as $31.09 and last traded at $30.97. 998,787 shares were traded during trading, a decline of 16% from the average session volume of 1,182,938 shares. The stock had previously closed at $32.34.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Stephens reaffirmed an "overweight" rating and set a $55.00 price target on shares of Cognex in a research report on Wednesday, March 12th. Cantor Fitzgerald raised Cognex to a "strong-buy" rating in a report on Friday, December 20th. Needham & Company LLC cut their price target on shares of Cognex from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Friday, February 14th. The Goldman Sachs Group decreased their price objective 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, Robert W. Baird cut their price objective on shares of Cognex from $42.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, Cognex presently has a consensus rating of "Hold" and a consensus target price of $44.83.

Cognex Trading Down 0.7 %

The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 50.69 and a beta of 1.43. The stock's fifty day moving average price is $35.61 and its 200-day moving average price is $37.76.

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Cognex (NASDAQ:CGNX - Get Free Report) last issued its quarterly earnings data 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%. Analysts predict that Cognex Co. will post 0.61 earnings per share for the current year.

Cognex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were paid a $0.08 dividend. 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 presently 52.46%.

Insider Activity at Cognex

In related news, EVP Carl Gerst sold 6,803 shares of the company's stock in a transaction that occurred on 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Cognex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its holdings in Cognex by 123.1% in the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company's stock valued at $29,000 after acquiring an additional 394 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Cognex in the 4th quarter valued at approximately $29,000. SRS Capital Advisors Inc. raised its holdings 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 valued at $32,000 after purchasing an additional 295 shares in the last quarter. Truvestments Capital LLC purchased a new position in Cognex during the 3rd quarter worth approximately $36,000. Finally, CBIZ Investment Advisory Services LLC increased its position in Cognex by 129.9% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company's stock worth $36,000 after buying an additional 569 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.

Cognex Company Profile

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.