Cognex (NASDAQ:CGNX - Free Report) had its price target reduced by UBS Group from $58.00 to $56.00 in a research note published on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the scientific and technical instruments company's stock.
Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald upgraded Cognex to a "strong-buy" rating in a research note on Friday, December 20th. Stephens reiterated an "overweight" rating and issued a $55.00 target price on shares of Cognex in a research note on Thursday, January 2nd. 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 research note on Friday, February 14th. Truist Financial reiterated a "hold" rating and set a $37.00 price target (down previously from $43.00) on shares of Cognex in a research note on Friday, February 14th. Finally, Robert W. Baird cut their price target on shares of Cognex from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Cognex presently has a consensus rating of "Hold" and a consensus target price of $44.83.
Read Our Latest Report on CGNX
Cognex Trading Down 1.8 %
Shares of CGNX traded down $0.60 during trading hours on Tuesday, hitting $32.80. The company had a trading volume of 1,669,656 shares, compared to its average volume of 1,517,452. The company has a market capitalization of $5.57 billion, a PE ratio of 53.77 and a beta of 1.40. Cognex has a one year low of $32.35 and a one year high of $53.13. The company's fifty day moving average price is $37.35 and its two-hundred day moving average price is $38.74.
Cognex (NASDAQ:CGNX - Get Free Report) last released its quarterly 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 net margin of 11.61% and a return on equity of 5.65%. Analysts forecast that Cognex will post 0.61 earnings per share for the current year.
Cognex Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, February 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. Cognex's dividend payout ratio (DPR) is 52.46%.
Insider Buying and Selling at Cognex
In related news, CTO Joerg Kuechen sold 2,934 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $37.75, for a total transaction of $110,758.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.
Hedge Funds Weigh In On Cognex
Large investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of Cognex in the 4th quarter valued at $79,797,000. Point72 Asset Management L.P. boosted its position in Cognex by 122.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,834,755 shares of the scientific and technical instruments company's stock valued at $114,808,000 after buying an additional 1,562,115 shares during the period. Norges Bank purchased a new position in Cognex in the 4th quarter valued at approximately $46,299,000. William Blair Investment Management LLC increased its position in shares of Cognex by 27.3% during the fourth quarter. William Blair Investment Management LLC now owns 5,840,117 shares of the scientific and technical instruments company's stock worth $209,427,000 after acquiring an additional 1,253,996 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Cognex by 903.9% in the fourth quarter. Marshall Wace LLP now owns 731,232 shares of the scientific and technical instruments company's stock valued at $26,222,000 after acquiring an additional 658,394 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.
Cognex Company Profile
(
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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.
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