Bank of America Corp DE Makes New Investment in Cognex Corporation $CGNX

Key Points

• Bank of America acquired 852,988 Cognex shares worth approximately $61.8 million during the second quarter, giving it a 0.51% stake. Institutional investors collectively own 88.12% of the company.
• Analysts remain generally optimistic, with Cognex carrying a consensus “Moderate Buy” rating and an average price target of $75.64. Recent upgrades included JPMorgan’s move to “overweight” and Cantor Fitzgerald’s increase of its target to $84.
• Cognex reported quarterly EPS of $0.45, exceeding estimates, while revenue rose 16.9% year over year to $291.26 million. The company also pays a quarterly dividend of $0.085 per share, for an annualized yield of about 0.6%.

Bank of America Corp DE purchased a new stake in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 852,988 shares of the scientific and technical instruments company's stock, valued at approximately $61,773,000. Bank of America Corp DE owned approximately 0.51% of Cognex at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CGNX. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Cognex during the second quarter worth about $26,000. Rakuten Securities Inc. purchased a new position in Cognex in the 2nd quarter worth approximately $32,000. Elevation Wealth Partners LLC lifted its holdings in Cognex by 635.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 478 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 413 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Cognex in the 1st quarter worth approximately $36,000. Finally, Larson Financial Group LLC grew its stake in Cognex by 202.7% during the fourth quarter. Larson Financial Group LLC now owns 1,105 shares of the scientific and technical instruments company's stock valued at $40,000 after acquiring an additional 740 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of Cognex from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $65.00 to $75.00 in a research note on Tuesday, May 26th. Zacks Research upgraded Cognex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 16th. HSBC lowered Cognex from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a research note on Monday, August 10th. Cantor Fitzgerald upped their price objective on Cognex from $76.00 to $84.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $91.00 target price on shares of Cognex in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.64.

Cognex Price Performance

Shares of CGNX stock opened at $61.56 on Friday. Cognex Corporation has a 1 year low of $34.60 and a 1 year high of $72.88. The stock's 50 day simple moving average is $62.66 and its two-hundred day simple moving average is $60.18. The company has a market cap of $10.36 billion, a PE ratio of 59.77 and a beta of 1.49.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.03. The company had revenue of $291.26 million during the quarter, compared to the consensus estimate of $292.10 million. Cognex had a return on equity of 13.50% and a net margin of 16.05%.Cognex's revenue was up 16.9% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. Cognex has set its FY 2026 guidance at 1.640-1.680 EPS and its Q3 2026 guidance at 0.500-0.540 EPS. Equities research analysts expect that Cognex Corporation will post 1.68 EPS for the current year.

Cognex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were given a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 20th. Cognex's payout ratio is 33.01%.

Cognex Profile

Cognex Corporation NASDAQ: CGNX develops machine vision technologies that help businesses automate inspection, identification, measurement and guidance tasks. Its systems enable manufacturing and logistics operations to analyze images and make decisions about products, components and packages.

The company's product portfolio includes industrial cameras, vision sensors, barcode readers, three-dimensional vision systems and machine vision software. Cognex also offers artificial intelligence and deep-learning tools designed to address complex inspection and classification applications, along with engineering, implementation and support services.

Founded in 1981 by Robert J.

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