MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 93,320 Shares of Cognex Corporation $CGNX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its stake in Cognex Corporation by 4.4%, now owning approximately 1.21% of the company worth $60.35 million.
• Analysts have upgraded Cognex's stock ratings, with KeyCorp setting a $50.00 target price and UBS Group raising their target from $53.00 to $58.00.
• Cognex recently reported quarterly earnings of $0.25 per share, exceeding expectations, and has declared an annualized dividend of $0.32 with a yield of 0.7%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 4.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,022,847 shares of the scientific and technical instruments company's stock after selling 93,320 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.21% of Cognex worth $60,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp lifted its holdings in shares of Cognex by 126.2% in the 1st quarter. Mackenzie Financial Corp now owns 4,609,802 shares of the scientific and technical instruments company's stock valued at $137,510,000 after purchasing an additional 2,571,457 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Cognex by 32.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,082,319 shares of the scientific and technical instruments company's stock worth $181,436,000 after purchasing an additional 1,474,832 shares during the period. SG Americas Securities LLC increased its holdings in shares of Cognex by 16,472.8% in the first quarter. SG Americas Securities LLC now owns 819,028 shares of the scientific and technical instruments company's stock valued at $24,432,000 after buying an additional 814,086 shares in the last quarter. ING Groep NV bought a new stake in Cognex in the first quarter worth $22,191,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Cognex by 34.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,539,557 shares of the scientific and technical instruments company's stock valued at $75,756,000 after acquiring an additional 647,955 shares during the period. 88.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cognex

In other Cognex news, EVP Sheila Marie Dipalma sold 2,000 shares of Cognex stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $45.03, for a total transaction of $90,060.00. Following the completion of the sale, the executive vice president directly owned 6,582 shares in the company, valued at $296,387.46. The trade was a 23.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Needham & Company LLC lifted their target price on shares of Cognex from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. UBS Group increased their target price on shares of Cognex from $53.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. The Goldman Sachs Group increased their price objective on shares of Cognex from $29.00 to $32.00 and gave the stock a "sell" rating in a research report on Thursday, June 12th. Robert W. Baird raised their price target on shares of Cognex from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Finally, KeyCorp raised shares of Cognex from a "sector weight" rating to an "overweight" rating and set a $50.00 price objective on the stock in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Cognex currently has a consensus rating of "Moderate Buy" and an average price target of $42.31.

Cognex Stock Up 0.7%

NASDAQ:CGNX traded up $0.31 during mid-day trading on Thursday, hitting $44.71. 532,506 shares of the stock traded hands, compared to its average volume of 2,078,637. The business's 50-day moving average price is $39.33 and its 200 day moving average price is $32.88. The company has a market cap of $7.51 billion, a PE ratio of 63.16 and a beta of 1.50. Cognex Corporation has a 12-month low of $22.67 and a 12-month high of $45.23.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $249.09 million during the quarter, compared to analysts' expectations of $246.70 million. Cognex had a net margin of 13.13% and a return on equity of 6.65%. Cognex's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. Cognex has set its Q3 2025 guidance at 0.240-0.290 EPS. Analysts anticipate that Cognex Corporation will post 0.61 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.32 annualized dividend and a yield of 0.7%. Cognex's payout ratio is presently 45.07%.

Cognex 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.