Cognex (NASDAQ:CGNX) Trading Up 4%

Cognex Co. (NASDAQ:CGNXGet Free Report)’s share price traded up 4% during mid-day trading on Thursday . The company traded as high as $46.16 and last traded at $46.03. 568,677 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,362,100 shares. The stock had previously closed at $44.25.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup upped their price objective on Cognex from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Truist Financial reaffirmed a “buy” rating and issued a $50.00 price objective (up previously from $47.00) on shares of Cognex in a report on Tuesday, May 7th. HSBC raised shares of Cognex from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Tuesday, May 7th. Robert W. Baird lifted their price target on shares of Cognex from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Sanford C. Bernstein increased their price objective on shares of Cognex from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cognex has a consensus rating of “Hold” and a consensus price target of $49.15.

Read Our Latest Stock Analysis on Cognex

Cognex Stock Performance

The stock has a market cap of $7.94 billion, a P/E ratio of 76.29 and a beta of 1.45. The firm has a 50 day simple moving average of $43.61 and a two-hundred day simple moving average of $40.82.

Cognex (NASDAQ:CGNXGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 earnings per share for the quarter. The business had revenue of $210.80 million for the quarter, compared to the consensus estimate of $198.14 million. Cognex had a net margin of 11.76% and a return on equity of 6.81%. As a group, equities research analysts predict that Cognex Co. will post 0.45 EPS for the current year.

Cognex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.30 annualized dividend and a yield of 0.65%. Cognex’s dividend payout ratio (DPR) is presently 51.72%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its position in shares of Cognex by 94.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 286 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Cognex in the 3rd quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S increased its position 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 buying an additional 579 shares during the period. Rise Advisors LLC lifted its holdings in shares of Cognex by 1,239.7% during the first quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 719 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its position in shares of Cognex by 71.1% in the third quarter. Itau Unibanco Holding S.A. now owns 804 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 334 shares during the period. Institutional investors own 88.12% of the company’s stock.

Cognex Company Profile

(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.

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