Assenagon Asset Management S.A. Invests $17.27 Million in Cognex Corporation $CGNX

Key Points

• Assenagon Asset Management S.A. has made a significant investment of $17.27 million in Cognex Corporation by purchasing 544,403 shares, representing approximately 0.32% ownership of the company.
• Multiple hedge funds have also increased their stakes in Cognex, with some reporting growths exceeding 400% in share ownership over the last quarter.
• Cognex recently reported a quarterly earnings beat, with $0.25 earnings per share, and announced a $0.08 quarterly dividend, yielding 0.7% annually.

Assenagon Asset Management S.A. purchased a new stake in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 544,403 shares of the scientific and technical instruments company's stock, valued at approximately $17,268,000. Assenagon Asset Management S.A. owned approximately 0.32% of Cognex at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in shares of Cognex by 402.2% in the first quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company's stock valued at $27,000 after buying an additional 736 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Cognex by 439.4% in the first quarter. Farther Finance Advisors LLC now owns 971 shares of the scientific and technical instruments company's stock valued at $29,000 after buying an additional 791 shares in the last quarter. GAMMA Investing LLC increased its position in Cognex by 155.3% in the 1st quarter. GAMMA Investing LLC now owns 1,062 shares of the scientific and technical instruments company's stock valued at $32,000 after acquiring an additional 646 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Cognex by 231.9% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,082 shares of the scientific and technical instruments company's stock valued at $34,000 after acquiring an additional 756 shares in the last quarter. Finally, UMB Bank n.a. increased its position in Cognex by 105.5% in the 1st quarter. UMB Bank n.a. now owns 1,280 shares of the scientific and technical instruments company's stock valued at $38,000 after acquiring an additional 657 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CGNX has been the subject of a number of research reports. UBS Group raised their price target on shares of Cognex from $53.00 to $58.00 and gave the company a "buy" rating in a report on Friday, August 1st. DA Davidson increased their price target on Cognex from $32.00 to $35.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Citigroup reissued a "neutral" rating and set a $37.00 price target (up from $30.00) on shares of Cognex in a research report on Monday, July 14th. KeyCorp raised Cognex from a "sector weight" rating to an "overweight" rating and set a $50.00 price objective for the company in a report on Friday, August 1st. Finally, The Goldman Sachs Group increased their price target on shares of Cognex from $36.00 to $40.00 and gave the company a "sell" rating in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.07.

Cognex Trading Up 0.1%

NASDAQ CGNX opened at $46.54 on Tuesday. Cognex Corporation has a 1-year low of $22.67 and a 1-year high of $47.18. The company has a 50 day moving average of $41.22 and a 200-day moving average of $33.58. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 65.55 and a beta of 1.50.

Cognex (NASDAQ:CGNX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $0.25 earnings per share 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 6.65%. The firm's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. Cognex has set its Q3 2025 guidance at 0.240-0.290 EPS. On average, equities research analysts forecast that Cognex Corporation will post 0.61 earnings per share for the current year.

Cognex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 14th. Cognex's payout ratio is 45.07%.

Insider Buying and Selling

In other news, EVP Sheila Marie Dipalma sold 2,002 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $45.00, for a total value of $90,090.00. Following the completion of the transaction, the executive vice president directly owned 8,582 shares in the company, valued at approximately $386,190. The trade was a 18.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.