Cognex's (CGNX) "Neutral" Rating Reaffirmed at DA Davidson

Cognex (NASDAQ:CGNX - Get Free Report)'s stock had its "neutral" rating restated by stock analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They presently have a $32.00 target price on the scientific and technical instruments company's stock. DA Davidson's price target points to a potential upside of 5.60% from the stock's current price.

Several other analysts have also issued reports on CGNX. Citigroup lowered their target price on Cognex from $37.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group boosted their target price on Cognex from $29.00 to $32.00 and gave the company a "sell" rating in a research note on Thursday. Robert W. Baird boosted their target price on Cognex from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday. Needham & Company LLC boosted their target price on Cognex from $33.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Finally, Truist Financial reduced their price target on Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $39.17.

Cognex Trading Up 0.5%

Shares of CGNX traded up $0.15 on Monday, reaching $30.30. 205,332 shares of the company's stock traded hands, compared to its average volume of 1,605,283. The stock has a market cap of $5.09 billion, a PE ratio of 49.67 and a beta of 1.47. The stock's 50 day simple moving average is $28.25 and its two-hundred day simple moving average is $32.80. Cognex has a 52-week low of $22.67 and a 52-week high of $53.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CGNX. Van ECK Associates Corp raised its position in Cognex by 27.9% during the 4th 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 purchasing an additional 27,727 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Cognex by 41.5% during 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 acquiring an additional 12,581 shares during the period. Principal Securities Inc. grew its holdings in shares of Cognex by 50.2% during the 4th 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 during the period. CIBC Asset Management Inc grew its holdings in shares of Cognex by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 5,616 shares of the scientific and technical instruments company's stock worth $201,000 after acquiring an additional 270 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in shares of 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 acquiring an additional 317 shares during the period. 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.

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