GAMMA Investing LLC Has $945,000 Stake in Cognex Corporation (NASDAQ:CGNX)

GAMMA Investing LLC increased its holdings in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 7,515.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 31,679 shares of the scientific and technical instruments company's stock after purchasing an additional 31,263 shares during the period. GAMMA Investing LLC's holdings in Cognex were worth $945,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Cognex during the 4th quarter worth approximately $79,797,000. Norges Bank acquired a new stake in Cognex during the 4th quarter valued at $46,299,000. William Blair Investment Management LLC boosted its position in Cognex by 27.3% during the fourth quarter. William Blair Investment Management LLC now owns 5,840,117 shares of the scientific and technical instruments company's stock worth $209,427,000 after purchasing an additional 1,253,996 shares during the period. Marshall Wace LLP increased its holdings in shares of Cognex by 903.9% in the fourth quarter. Marshall Wace LLP now owns 731,232 shares of the scientific and technical instruments company's stock valued at $26,222,000 after purchasing an additional 658,394 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Cognex by 464.6% in the fourth quarter. Millennium Management LLC now owns 782,576 shares of the scientific and technical instruments company's stock valued at $28,063,000 after purchasing an additional 643,959 shares during the period. Institutional investors and hedge funds own 88.12% of the company's stock.

Cognex Stock Down 1.7%

Shares of CGNX stock traded down $0.50 during trading hours on Friday, reaching $29.48. The company's stock had a trading volume of 673,210 shares, compared to its average volume of 1,607,775. Cognex Corporation has a fifty-two week low of $22.67 and a fifty-two week high of $53.13. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 43.35 and a beta of 1.47. The firm's 50 day simple moving average is $28.69 and its 200-day simple moving average is $32.62.

Cognex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, May 15th. Cognex's dividend payout ratio is 47.06%.

Analysts Set New Price Targets

CGNX has been the topic of a number of research reports. DA Davidson reiterated a "neutral" rating and issued a $32.00 price target on shares of Cognex in a research note on Monday. Stephens reaffirmed an "overweight" rating and issued a $55.00 target price on shares of Cognex in a research report on Wednesday, March 12th. Hsbc Global Res downgraded Cognex from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. Citigroup lowered their price target on shares of Cognex from $37.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group boosted their price objective on shares of Cognex from $29.00 to $32.00 and gave the company a "sell" rating in a report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cognex presently has an average rating of "Hold" and a consensus price target of $39.17.

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.