12,700 Shares in Cognex Corporation (NASDAQ:CGNX) Acquired by Golden State Equity Partners

Golden State Equity Partners acquired a new position in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,700 shares of the scientific and technical instruments company's stock, valued at approximately $379,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Cognex by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 18,479,828 shares of the scientific and technical instruments company's stock worth $662,687,000 after purchasing an additional 296,251 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Cognex by 27.3% in the 4th quarter. William Blair Investment Management LLC now owns 5,840,117 shares of the scientific and technical instruments company's stock valued at $209,427,000 after buying an additional 1,253,996 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Cognex by 13.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,820,394 shares of the scientific and technical instruments company's stock valued at $136,999,000 after buying an additional 461,724 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Cognex by 1.1% during the fourth quarter. Lazard Asset Management LLC now owns 2,256,640 shares of the scientific and technical instruments company's stock worth $80,923,000 after acquiring an additional 25,492 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Cognex in the fourth quarter worth about $79,797,000. Institutional investors own 88.12% of the company's stock.

Cognex Stock Performance

NASDAQ CGNX traded up $0.26 during trading hours on Monday, hitting $31.72. 1,679,592 shares of the company traded hands, compared to its average volume of 1,626,458. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 46.65 and a beta of 1.47. Cognex Corporation has a twelve month low of $22.67 and a twelve month high of $53.13. The business's 50-day moving average is $29.66 and its 200-day moving average is $32.19.

Cognex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. Cognex's payout ratio is 47.06%.

Analyst Ratings Changes

CGNX has been the topic of several recent analyst reports. Truist Financial cut their price objective on Cognex from $37.00 to $29.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Citigroup cut their price target on shares of Cognex from $37.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group upped their price target on shares of Cognex from $29.00 to $32.00 and gave the company a "sell" rating in a report on Thursday, June 12th. Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating in a report on Monday, April 28th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $32.00 price objective on shares of Cognex in a research report on Monday, June 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cognex presently has an average rating of "Hold" and a consensus price target of $39.17.

About Cognex

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.