Dynamic Technology Lab Private Ltd Makes New $1.23 Million Investment in Cognex Co. (NASDAQ:CGNX)

Dynamic Technology Lab Private Ltd bought a new position in Cognex Co. (NASDAQ:CGNX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 34,287 shares of the scientific and technical instruments company's stock, valued at approximately $1,230,000.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Cognex by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,784,239 shares of the scientific and technical instruments company's stock valued at $72,262,000 after buying an additional 87,790 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Cognex by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,427,756 shares of the scientific and technical instruments company's stock valued at $51,199,000 after purchasing an additional 42,292 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Cognex during the 3rd quarter worth about $790,000. Smartleaf Asset Management LLC lifted its holdings in shares of Cognex by 75.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,870 shares of the scientific and technical instruments company's stock valued at $102,000 after buying an additional 1,231 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Cognex by 0.7% in the 4th quarter. Swiss National Bank now owns 337,300 shares of the scientific and technical instruments company's stock valued at $12,096,000 after buying an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CGNX. Truist Financial reduced their target price on shares of Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a research note on Tuesday. Cantor Fitzgerald raised shares of Cognex to a "strong-buy" rating in a research note on Friday, December 20th. The Goldman Sachs Group lowered their target price on shares of Cognex from $39.00 to $35.00 and set a "sell" rating on the stock in a research report on Tuesday, February 18th. Hsbc Global Res cut Cognex from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Finally, Robert W. Baird lowered their price objective on Cognex from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cognex has a consensus rating of "Hold" and a consensus price target of $44.17.

Cognex Stock Up 0.2 %

NASDAQ CGNX traded up $0.05 during midday trading on Friday, hitting $23.50. The company had a trading volume of 1,963,023 shares, compared to its average volume of 1,362,890. The firm has a fifty day simple moving average of $31.84 and a two-hundred day simple moving average of $36.54. Cognex Co. has a fifty-two week low of $22.67 and a fifty-two week high of $53.13. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 38.23 and a beta of 1.56.

Cognex (NASDAQ:CGNX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Cognex had a net margin of 11.61% and a return on equity of 5.65%. As a group, equities analysts predict that Cognex Co. will post 0.61 earnings per share for the current year.

Cognex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, February 27th. Cognex's dividend payout ratio is 52.46%.

Insider Buying and Selling at Cognex

In other Cognex news, EVP Carl Gerst sold 6,803 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $32.73, for a total value of $222,662.19. Following the transaction, the executive vice president now directly owns 4,566 shares in the company, valued at $149,445.18. The trade was a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company's stock.

Cognex 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.