Cognex (NASDAQ:CGNX) PT Lowered to $39.00

Cognex (NASDAQ:CGNX) had its target price trimmed by DA Davidson from $41.00 to $39.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the scientific and technical instruments company’s stock. DA Davidson also issued estimates for Cognex’s Q3 2024 earnings at $0.11 EPS, FY2024 earnings at $0.45 EPS and FY2025 earnings at $0.79 EPS.

A number of other research firms also recently commented on CGNX. HSBC upgraded shares of Cognex from a hold rating to a buy rating and set a $52.00 price objective for the company in a report on Tuesday, May 7th. StockNews.com cut shares of Cognex from a hold rating to a sell rating in a research note on Thursday, August 1st. Needham & Company LLC increased their price target on shares of Cognex from $48.00 to $57.00 and gave the company a buy rating in a research note on Monday, July 29th. Sanford C. Bernstein increased their price target on shares of Cognex from $52.00 to $55.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Finally, Vertical Research started coverage on shares of Cognex in a research note on Tuesday, July 23rd. They issued a buy rating and a $58.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cognex presently has an average rating of Moderate Buy and an average price target of $49.62.

Cognex Trading Up 3.7 %

CGNX stock opened at $38.75 on Monday. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 66.81 and a beta of 1.42. Cognex has a 12 month low of $34.28 and a 12 month high of $53.13. The firm has a 50-day moving average of $46.55 and a two-hundred day moving average of $42.98.

Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $239.00 million during the quarter, compared to the consensus estimate of $240.33 million. Cognex had a net margin of 9.29% and a return on equity of 4.97%. Cognex’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, equities analysts forecast that Cognex will post 0.46 earnings per share for the current year.

Cognex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.77%. Cognex’s payout ratio is currently 51.72%.

Insider Buying and Selling

In related news, Director Dianne M. Parrotte acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $38.62 per share, with a total value of $77,240.00. Following the transaction, the director now owns 11,340 shares of the company’s stock, valued at approximately $437,950.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cognex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV boosted its position in Cognex by 94.4% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 286 shares during the period. Rise Advisors LLC boosted its position in Cognex by 1,239.7% in the 1st quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 719 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted 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 valued at $33,000 after buying an additional 579 shares during the period. GAMMA Investing LLC boosted its position in Cognex by 276.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock valued at $51,000 after buying an additional 798 shares during the period. Finally, Janiczek Wealth Management LLC boosted its position in Cognex by 71.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,295 shares of the scientific and technical instruments company’s stock valued at $54,000 after buying an additional 541 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.

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.