Cognex Co. (CGNX) Receives Average Rating of “Hold” from Analysts
Shares of Cognex Co. (NASDAQ:CGNX) have received a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the company. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $65.59.
CGNX has been the topic of a number of research reports. TheStreet upgraded shares of Cognex from a “c+” rating to a “b” rating in a report on Thursday, March 9th. Goldman Sachs Group Inc initiated coverage on shares of Cognex in a report on Monday, April 3rd. They set a “buy” rating on the stock. Summit Redstone reiterated a “buy” rating on shares of Cognex in a report on Thursday, March 30th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price (up from $61.00) on shares of Cognex in a report on Friday, February 17th. Finally, Zacks Investment Research upgraded shares of Cognex from a “sell” rating to a “buy” rating and set a $101.00 target price on the stock in a report on Wednesday, May 3rd.
Cognex (NASDAQ:CGNX) opened at 92.99 on Friday. Cognex has a 12-month low of $38.71 and a 12-month high of $94.23. The firm’s 50 day moving average price is $87.16 and its 200-day moving average price is $73.52. The stock has a market cap of $8.06 billion, a P/E ratio of 45.25 and a beta of 1.33.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.37%. This is a positive change from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, May 31st. Cognex’s dividend payout ratio (DPR) is presently 20.13%.
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In other news, CEO Robert Willett sold 55,919 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $91.73, for a total value of $5,129,449.87. Following the sale, the chief executive officer now directly owns 55,919 shares in the company, valued at approximately $5,129,449.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick Alias sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $77.85, for a total transaction of $389,250.00. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at $389,250. The disclosure for this sale can be found here. Insiders sold a total of 205,000 shares of company stock worth $17,398,718 over the last 90 days. Company insiders own 6.40% of the company’s stock.
Several large investors have recently made changes to their positions in CGNX. Segantii Capital Management Ltd purchased a new stake in shares of Cognex during the first quarter worth $101,000. IFP Advisors Inc raised its stake in shares of Cognex by 172.3% in the first quarter. IFP Advisors Inc now owns 1,307 shares of the scientific and technical instruments company’s stock worth $110,000 after buying an additional 827 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Cognex by 69.9% in the first quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock worth $133,000 after buying an additional 650 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Cognex by 737.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,952 shares of the scientific and technical instruments company’s stock worth $164,000 after buying an additional 1,719 shares during the last quarter. Finally, FNY Partners Fund LP purchased a new stake in shares of Cognex during the first quarter worth $167,000. Institutional investors and hedge funds own 90.00% of the company’s stock.
Cognex Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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