Cognex Co. (NASDAQ:CGNX) Given Consensus Recommendation of “Hold” by Analysts

Cognex Co. (NASDAQ:CGNX) has earned an average rating of “Hold” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $47.91.

A number of brokerages have recently commented on CGNX. StockNews.com upgraded Cognex from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Robert W. Baird cut their price objective on shares of Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. The Goldman Sachs Group lowered their target price on shares of Cognex from $45.00 to $39.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Truist Financial cut shares of Cognex from a “buy” rating to a “hold” rating and dropped their price target for the stock from $46.00 to $43.00 in a research note on Tuesday, November 5th. Finally, DA Davidson reduced their price objective on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th.

Cognex Trading Up 1.7 %

CGNX opened at $39.26 on Wednesday. The stock has a 50-day moving average of $39.87 and a 200 day moving average of $43.04. Cognex has a 12 month low of $34.79 and a 12 month high of $53.13. The firm has a market cap of $6.73 billion, a P/E ratio of 75.50 and a beta of 1.40.

Cognex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.08 per share. This is an increase from Cognex’s previous quarterly dividend of $0.08. This represents a $0.32 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, November 14th. Cognex’s dividend payout ratio (DPR) is presently 61.54%.

Insider Buying and Selling at Cognex

In other Cognex news, CFO Dennis Fehr bought 6,570 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $38.04 per share, with a total value of $249,922.80. Following the transaction, the chief financial officer now owns 6,570 shares of the company’s stock, valued at approximately $249,922.80. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cognex

A number of hedge funds and other institutional investors have recently modified their holdings of CGNX. Riverview Trust Co purchased a new stake in Cognex during the third quarter worth $25,000. Advisors Asset Management Inc. lifted its stake in shares of Cognex by 123.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 394 shares during the last quarter. Truvestments Capital LLC bought a new stake in Cognex during the third quarter valued at about $36,000. GAMMA Investing LLC grew its stake in Cognex by 276.1% in the second quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock valued at $51,000 after purchasing an additional 798 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Cognex in the second quarter worth about $55,000. 88.12% of the stock is currently owned by 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.