Posted by admin on May 27th, 2022

Several brokerages have updated their recommendations and price targets on shares of Cognex (NASDAQ: CGNX) in the last few weeks:

NASDAQ CGNX opened at $46.16 on Friday. The stock has a 50-day simple moving average of $64.97 and a two-hundred day simple moving average of $69.44. The firm has a market capitalization of $8.02 billion, a P/E ratio of 29.78 and a beta of 1.63. Cognex Co. has a fifty-two week low of $44.60 and a fifty-two week high of $92.17.

Cognex (NASDAQ:CGNX – Get Rating) last posted its earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. Cognex had a return on equity of 19.48% and a net margin of 25.67%. The firm had revenue of $282.40 million for the quarter, compared to analysts’ expectations of $277.23 million. During the same period last year, the firm earned $0.39 EPS. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Sell-side analysts expect that Cognex Co. will post 1.52 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Thursday, May 19th. Cognex’s dividend payout ratio (DPR) is presently 16.77%.

In other Cognex news, Director Dianne M. Parrotte bought 3,000 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were purchased at an average cost of $46.00 per share, for a total transaction of $138,000.00. Following the transaction, the director now directly owns 3,608 shares of the company’s stock, valued at $165,968. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 4.10% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its holdings in Cognex by 11.9% in the 4th quarter. CIBC Asset Management Inc now owns 8,456 shares of the scientific and technical instruments company’s stock worth $658,000 after buying an additional 901 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Cognex by 12.1% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 763,795 shares of the scientific and technical instruments company’s stock worth $59,785,000 after purchasing an additional 82,387 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Cognex by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 984,006 shares of the scientific and technical instruments company’s stock worth $76,516,000 after purchasing an additional 26,799 shares in the last quarter. LPL Financial LLC lifted its stake in Cognex by 20.6% in the 3rd quarter. LPL Financial LLC now owns 46,727 shares of the scientific and technical instruments company’s stock worth $3,748,000 after purchasing an additional 7,996 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Cognex by 15.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 223,704 shares of the scientific and technical instruments company’s stock worth $17,395,000 after purchasing an additional 30,059 shares in the last quarter. Institutional investors own 88.85% of the company’s stock.

Cognex Corporation provides machine vision products that capture and analyze visual information in order 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, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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