Neo Ivy Capital Management Takes Position in Cognex Co. (NASDAQ:CGNX)

Neo Ivy Capital Management bought a new position in Cognex Co. (NASDAQ:CGNX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 53,376 shares of the scientific and technical instruments company's stock, valued at approximately $1,914,000.

Several other large investors have also made changes to their positions in CGNX. SBI Securities Co. Ltd. purchased a new position in shares of Cognex in the 4th quarter worth $29,000. SRS Capital Advisors Inc. raised its position in Cognex by 50.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock valued at $32,000 after purchasing an additional 295 shares during the period. CBIZ Investment Advisory Services LLC raised its position in Cognex by 129.9% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company's stock valued at $36,000 after purchasing an additional 569 shares during the period. Principal Securities Inc. raised its position in Cognex by 50.2% in the fourth quarter. Principal Securities Inc. now owns 1,047 shares of the scientific and technical instruments company's stock valued at $38,000 after purchasing an additional 350 shares during the period. Finally, Global Retirement Partners LLC raised its position in Cognex by 30.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,346 shares of the scientific and technical instruments company's stock valued at $48,000 after purchasing an additional 317 shares during the period. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cognex Price Performance

NASDAQ:CGNX traded up $1.00 during mid-day trading on Tuesday, reaching $30.72. The stock had a trading volume of 1,410,336 shares, compared to its average volume of 2,227,768. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 50.36 and a beta of 1.45. Cognex Co. has a 1-year low of $22.67 and a 1-year high of $53.13. The stock's 50 day simple moving average is $27.86 and its two-hundred day simple moving average is $33.77.

Cognex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 1.04%. Cognex's payout ratio is currently 47.06%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Cowen raised Cognex from a "hold" rating to a "buy" rating in a research report on Monday, April 28th. UBS Group cut their price objective on Cognex from $56.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group cut their price objective on Cognex from $33.00 to $29.00 and set a "sell" rating on the stock in a research report on Tuesday, May 6th. Citigroup lowered their target price on Cognex from $37.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, HSBC downgraded Cognex from a "buy" rating to a "hold" rating and set a $33.00 target price for the company. in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company 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.