DA Davidson Reiterates Neutral Rating for Cognex (NASDAQ:CGNX)

DA Davidson restated their neutral rating on shares of Cognex (NASDAQ:CGNX - Free Report) in a research note released on Monday morning,Benzinga reports. They currently have a $32.00 price objective on the scientific and technical instruments company's stock.

CGNX has been the topic of a number of other research reports. Robert W. Baird lifted their target price on Cognex from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Monday. Needham & Company LLC lifted their price objective on Cognex from $33.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. HSBC downgraded shares of Cognex from a "buy" rating to a "hold" rating and set a $33.00 target price for the company. in a research report on Friday, February 21st. Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating in a report on Monday, April 28th. Finally, Citigroup reduced their price objective on Cognex from $37.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $39.17.

Cognex Trading Up 0.2%

Shares of Cognex stock traded up $0.07 during trading hours on Monday, reaching $29.97. 1,316,847 shares of the company's stock were exchanged, compared to its average volume of 1,611,333. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 44.07 and a beta of 1.47. Cognex has a 52-week low of $22.67 and a 52-week high of $53.13. The company has a fifty day moving average of $28.69 and a 200-day moving average of $32.62.

Cognex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. Cognex's dividend payout ratio (DPR) is presently 47.06%.

Institutional Trading of Cognex

Institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in shares of Cognex by 27.9% in the fourth quarter. Van ECK Associates Corp now owns 127,256 shares of the scientific and technical instruments company's stock valued at $4,563,000 after buying an additional 27,727 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Cognex by 41.5% during the fourth quarter. Vontobel Holding Ltd. now owns 42,905 shares of the scientific and technical instruments company's stock valued at $1,539,000 after buying an additional 12,581 shares in the last quarter. Principal Securities Inc. increased its position in shares of Cognex by 50.2% in the fourth quarter. Principal Securities Inc. now owns 1,047 shares of the scientific and technical instruments company's stock worth $38,000 after acquiring an additional 350 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Cognex by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,616 shares of the scientific and technical instruments company's stock valued at $201,000 after acquiring an additional 270 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in Cognex by 30.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,346 shares of the scientific and technical instruments company's stock worth $48,000 after purchasing an additional 317 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

About Cognex

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.