Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 82,536 shares of the scientific and technical instruments company's stock, valued at approximately $2,462,000.
Other institutional investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Cognex in the first quarter valued at approximately $1,068,000. Allianz Asset Management GmbH boosted its stake in shares of Cognex by 52.8% in the first quarter. Allianz Asset Management GmbH now owns 148,636 shares of the scientific and technical instruments company's stock valued at $4,434,000 after purchasing an additional 51,366 shares during the period. Welch & Forbes LLC boosted its stake in shares of Cognex by 1.6% in the first quarter. Welch & Forbes LLC now owns 330,342 shares of the scientific and technical instruments company's stock valued at $9,854,000 after purchasing an additional 5,077 shares during the period. Signaturefd LLC boosted its stake in shares of Cognex by 431.7% in the first quarter. Signaturefd LLC now owns 2,462 shares of the scientific and technical instruments company's stock valued at $73,000 after purchasing an additional 1,999 shares during the period. Finally, Slow Capital Inc. boosted its stake in shares of Cognex by 6.1% in the first quarter. Slow Capital Inc. now owns 64,048 shares of the scientific and technical instruments company's stock valued at $1,911,000 after purchasing an additional 3,698 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.
Cognex Price Performance
NASDAQ:CGNX traded down $0.30 on Friday, reaching $40.47. The stock had a trading volume of 3,512,890 shares, compared to its average volume of 2,105,354. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 57.00 and a beta of 1.47. The firm's fifty day moving average is $31.81 and its two-hundred day moving average is $31.81. Cognex Corporation has a 12-month low of $22.67 and a 12-month high of $44.17.
Cognex (NASDAQ:CGNX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. The company had revenue of $249.09 million during the quarter, compared to the consensus estimate of $246.70 million. Cognex had a net margin of 13.13% and a return on equity of 6.64%. The company's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 EPS. As a group, research analysts forecast that Cognex Corporation will post 0.61 earnings per share for the current fiscal year.
Cognex Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.32 annualized dividend and a yield of 0.8%. Cognex's dividend payout ratio (DPR) is 45.07%.
Analyst Ratings Changes
Several research analysts have recently commented on CGNX shares. Cowen raised shares of Cognex from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. KeyCorp upgraded shares of Cognex from a "sector weight" rating to an "overweight" rating and set a $50.00 price target for the company in a research note on Friday. Citigroup reiterated a "neutral" rating and issued a $37.00 price target (up previously from $30.00) on shares of Cognex in a research note on Monday, July 14th. UBS Group boosted their price objective on shares of Cognex from $53.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Robert W. Baird lifted their target price on shares of Cognex from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.08.
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About Cognex
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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.
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