Cognex (NASDAQ:CGNX - Free Report) had its price target hoisted by Needham & Company LLC from $33.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company's stock.
CGNX has been the subject of a number of other reports. Citigroup reduced their target price on shares of Cognex from $37.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Hsbc Global Res downgraded shares of Cognex from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. The Goldman Sachs Group reduced their target price on shares of Cognex from $33.00 to $29.00 and set a "sell" rating for the company in a research report on Tuesday, May 6th. Truist Financial reduced their target price on shares of Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Finally, Robert W. Baird reduced their target price on shares of Cognex from $42.00 to $38.00 and set a "neutral" rating for the company in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $39.67.
Read Our Latest Report on CGNX
Cognex Trading Down 1.5%
Shares of CGNX traded down $0.45 on Wednesday, reaching $30.15. The company's stock had a trading volume of 2,224,182 shares, compared to its average volume of 1,610,786. Cognex has a twelve month low of $22.67 and a twelve month high of $53.13. The stock has a market capitalization of $5.06 billion, a PE ratio of 49.43 and a beta of 1.47. The firm has a fifty day moving average of $28.25 and a 200-day moving average of $32.85.
Cognex Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, May 15th. Cognex's dividend payout ratio (DPR) is currently 47.06%.
Institutional Trading of Cognex
Several institutional investors and hedge funds have recently made changes to their positions in CGNX. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Cognex by 4.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,786 shares of the scientific and technical instruments company's stock valued at $745,000 after buying an additional 857 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Cognex during the 4th quarter valued at $521,000. Stephens Inc. AR raised its position in shares of Cognex by 35.9% during the 4th quarter. Stephens Inc. AR now owns 16,096 shares of the scientific and technical instruments company's stock valued at $577,000 after buying an additional 4,251 shares in the last quarter. Van ECK Associates Corp raised its position in Cognex by 27.9% in the 4th quarter. Van ECK Associates Corp now owns 127,256 shares of the scientific and technical instruments company's stock worth $4,563,000 after purchasing an additional 27,727 shares during the period. Finally, Vontobel Holding Ltd. raised its position in Cognex by 41.5% in the 4th quarter. Vontobel Holding Ltd. now owns 42,905 shares of the scientific and technical instruments company's stock worth $1,539,000 after purchasing an additional 12,581 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.
Cognex Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Cognex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cognex wasn't on the list.
While Cognex currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
