Cognex (NASDAQ:CGNX) Price Target Lowered to $47.00 at Needham & Company LLC

Cognex (NASDAQ:CGNX - Get Free Report) had its price objective reduced by Needham & Company LLC from $50.00 to $47.00 in a report released on Friday, Benzinga reports. The firm presently has a "buy" rating on the scientific and technical instruments company's stock. Needham & Company LLC's price objective would suggest a potential upside of 16.31% from the company's previous close.

Several other research analysts have also recently issued reports on the company. Robert W. Baird dropped their price target on Cognex from $46.00 to $42.00 and set a "neutral" rating on the stock in a report on Monday, August 5th. Stephens raised Cognex from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $45.00 to $55.00 in a research report on Wednesday, October 16th. Truist Financial decreased their price target on Cognex from $55.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Vertical Research began coverage on Cognex in a report on Tuesday, July 23rd. They set a "buy" rating and a $58.00 price objective on the stock. Finally, DA Davidson decreased their target price on shares of Cognex from $41.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cognex has an average rating of "Moderate Buy" and a consensus target price of $49.17.

Cognex Trading Up 0.4 %

CGNX stock traded up $0.18 during trading hours on Friday, hitting $40.41. 1,460,817 shares of the stock traded hands, compared to its average volume of 1,284,564. The stock has a 50-day simple moving average of $39.38 and a 200 day simple moving average of $42.91. The company has a market cap of $6.93 billion, a P/E ratio of 76.21 and a beta of 1.41. Cognex has a one year low of $34.79 and a one year high of $53.13.

Cognex (NASDAQ:CGNX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $234.74 million during the quarter, compared to analyst estimates of $229.86 million. Cognex had a net margin of 10.10% and a return on equity of 5.34%. Analysts forecast that Cognex will post 0.43 earnings per share for the current year.

Insider Buying and Selling at Cognex

In other news, Director Dianne M. Parrotte acquired 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $38.62 per share, for a total transaction of $77,240.00. Following the completion of the acquisition, the director now owns 11,340 shares in the company, valued at approximately $437,950.80. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cognex news, CFO Dennis Fehr bought 6,570 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was bought at an average cost of $38.04 per share, with a total value of $249,922.80. Following the completion of the transaction, the chief financial officer now directly owns 6,570 shares of the company's stock, valued at approximately $249,922.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dianne M. Parrotte purchased 2,000 shares of the business's stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $38.62 per share, for a total transaction of $77,240.00. Following the acquisition, the director now directly owns 11,340 shares in the company, valued at $437,950.80. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Cognex

A number of large investors have recently bought and sold shares of the business. Riverview Trust Co acquired a new position in Cognex during the third quarter valued at approximately $25,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Cognex by 303.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 579 shares during the period. GAMMA Investing LLC lifted its position in Cognex by 276.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company's stock worth $51,000 after acquiring an additional 798 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Cognex during the second quarter valued at about $55,000. Finally, Signaturefd LLC grew its position in shares of Cognex by 43.2% in the second quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company's stock valued at $80,000 after purchasing an additional 514 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors.

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.