Neo Ivy Capital Management Takes $1.91 Million Position in Cognex Co. (NASDAQ:CGNX)

Neo Ivy Capital Management purchased a new position in shares of Cognex Co. (NASDAQ:CGNX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 53,376 shares of the scientific and technical instruments company's stock, valued at approximately $1,914,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CGNX. Vanguard Group Inc. lifted its position in shares of Cognex by 1.6% during 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 last quarter. William Blair Investment Management LLC increased its stake in 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 worth $209,427,000 after buying an additional 1,253,996 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Cognex by 13.7% during 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 boosted its position in Cognex by 1.1% in the 4th quarter. Lazard Asset Management LLC now owns 2,256,640 shares of the scientific and technical instruments company's stock valued at $80,923,000 after buying an additional 25,492 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Cognex in the 4th quarter valued at about $79,797,000. 88.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CGNX shares. Needham & Company LLC reduced their target price on shares of Cognex from $41.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group reduced their price objective on Cognex from $33.00 to $29.00 and set a "sell" rating on the stock in a report on Tuesday, May 6th. Stephens reiterated an "overweight" rating and issued a $55.00 target price on shares of Cognex in a report on Wednesday, March 12th. Truist Financial dropped their price target on Cognex from $37.00 to $29.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, Cowen upgraded Cognex from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $39.17.

Cognex Stock Performance

CGNX stock traded down $0.26 during trading on Wednesday, reaching $30.46. 438,433 shares of the company traded hands, compared to its average volume of 1,572,800. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 49.98 and a beta of 1.45. The business has a 50 day simple moving average of $27.85 and a 200 day simple moving average of $33.75. Cognex Co. has a 12 month low of $22.67 and a 12 month high of $53.13.

Cognex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, May 15th. Cognex's payout ratio is currently 47.06%.

Cognex Company 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.