Cognex (NASDAQ:CGNX) Lowered to Hold at BidaskClub

BidaskClub cut shares of Cognex (NASDAQ:CGNX) from a buy rating to a hold rating in a report published on Thursday, December 7th.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of Cognex from a neutral rating to an underweight rating and set a $62.50 target price on the stock. in a research note on Wednesday, November 8th. Canaccord Genuity upped their target price on shares of Cognex from $47.50 to $60.00 and gave the stock a hold rating in a research note on Tuesday, October 31st. Wolfe Research upgraded shares of Cognex from a market perform rating to an outperform rating in a research note on Monday, August 14th. Zacks Investment Research lowered shares of Cognex from a strong-buy rating to a hold rating in a research note on Tuesday, October 3rd. Finally, Robert W. Baird upped their target price on shares of Cognex from $50.00 to $62.00 and gave the stock a neutral rating in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Cognex has an average rating of Hold and an average price target of $60.17.

Shares of Cognex (CGNX) traded down $0.58 on Thursday, hitting $61.16. 807,486 shares of the stock traded hands, compared to its average volume of 1,939,023. The firm has a market capitalization of $10,691.71, a PE ratio of 45.14 and a beta of 1.50. Cognex has a 1-year low of $31.18 and a 1-year high of $72.99.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The business had revenue of $259.74 million for the quarter, compared to analysts’ expectations of $255.95 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. The business’s quarterly revenue was up 75.6% on a year-over-year basis. sell-side analysts predict that Cognex will post 1.39 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a $0.045 dividend. The ex-dividend date was Thursday, November 16th. This represents a $0.18 annualized dividend and a yield of 0.29%. Cognex’s dividend payout ratio is currently 13.28%.

In other Cognex news, Director Jeffrey Benjamin Miller sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $124.23, for a total value of $931,725.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert Willett sold 100,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $127.19, for a total transaction of $12,719,000.00. Following the completion of the transaction, the chief executive officer now owns 100,000 shares in the company, valued at $12,719,000. The disclosure for this sale can be found here. Insiders sold 143,750 shares of company stock worth $18,540,975 over the last quarter. 5.60% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. AHL Partners LLP grew its position in shares of Cognex by 0.8% during the second quarter. AHL Partners LLP now owns 2,842 shares of the scientific and technical instruments company’s stock worth $241,000 after acquiring an additional 23 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of Cognex by 2.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,999 shares of the scientific and technical instruments company’s stock worth $170,000 after acquiring an additional 47 shares during the last quarter. Sawtooth Solutions LLC grew its position in shares of Cognex by 1.3% during the second quarter. Sawtooth Solutions LLC now owns 4,009 shares of the scientific and technical instruments company’s stock worth $340,000 after acquiring an additional 51 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Cognex by 0.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,645 shares of the scientific and technical instruments company’s stock worth $1,074,000 after acquiring an additional 75 shares during the last quarter. Finally, BB&T Securities LLC grew its position in shares of Cognex by 1.2% during the second quarter. BB&T Securities LLC now owns 10,050 shares of the scientific and technical instruments company’s stock worth $853,000 after acquiring an additional 117 shares during the last quarter. Institutional investors own 42.10% of the company’s stock.

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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.

Analyst Recommendations for Cognex (NASDAQ:CGNX)

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