Analysts Set Cognex Co. (NASDAQ:CGNX) PT at $39.17

Cognex Co. (NASDAQ:CGNX) has been given a consensus rating of “Moderate Buy” by the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $39.17.

Several brokerages have weighed in on CGNX. Truist Financial dropped their price objective on Cognex from $37.00 to $29.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. TD Cowen upgraded shares of Cognex from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Monday, April 28th. Needham & Company LLC dropped their price target on shares of Cognex from $41.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Cowen raised shares of Cognex from a “hold” rating to a “buy” rating in a research report on Monday, April 28th. Finally, Robert W. Baird cut their target price on Cognex from $42.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th.

Cognex Stock Up 0.9%

CGNX stock opened at $31.43 on Friday. The firm has a market capitalization of $5.28 billion, a PE ratio of 51.53 and a beta of 1.47. Cognex has a twelve month low of $22.67 and a twelve month high of $53.13. The stock’s 50 day moving average is $27.87 and its 200-day moving average is $33.06.

Cognex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 annualized dividend and a yield of 1.02%. Cognex’s payout ratio is 47.06%.

Institutional Trading of Cognex

A number of large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Cognex by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,427,756 shares of the scientific and technical instruments company’s stock worth $51,199,000 after acquiring an additional 42,292 shares during the period. Smartleaf Asset Management LLC boosted its position in Cognex by 75.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,870 shares of the scientific and technical instruments company’s stock worth $102,000 after purchasing an additional 1,231 shares during the period. Swiss National Bank boosted its position in Cognex by 0.7% during the fourth quarter. Swiss National Bank now owns 337,300 shares of the scientific and technical instruments company’s stock worth $12,096,000 after purchasing an additional 2,200 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Cognex in the fourth quarter worth about $1,215,000. Finally, Nuveen Asset Management LLC raised its position in shares of Cognex by 3.2% in the fourth quarter. Nuveen Asset Management LLC now owns 457,636 shares of the scientific and technical instruments company’s stock valued at $16,411,000 after purchasing an additional 14,396 shares during the period. 88.12% of the stock is owned by hedge funds and other 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.