Phoenix Financial Ltd. Invests $234,000 in Cognex Corporation (NASDAQ:CGNX)

Key Points

• Phoenix Financial Ltd. has acquired a new stake in Cognex Corporation, purchasing 7,800 shares valued at approximately $234,000.
• Cognex announced a quarterly dividend of $0.08 per share, equating to a 0.94% dividend yield, with a payout ratio of 47.06%.
• Analysts have mixed ratings on Cognex stock, with a consensus rating of "Hold" and a target price of $40.25, while recent opinion changes varied from "buy" to decreased targets.

Phoenix Financial Ltd. bought a new stake in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,800 shares of the scientific and technical instruments company's stock, valued at approximately $234,000.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in Cognex by 439.4% during the first quarter. Farther Finance Advisors LLC now owns 971 shares of the scientific and technical instruments company's stock valued at $29,000 after buying an additional 791 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cognex by 155.3% during the first quarter. GAMMA Investing LLC now owns 1,062 shares of the scientific and technical instruments company's stock valued at $32,000 after purchasing an additional 646 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Cognex by 105.5% during the first quarter. UMB Bank n.a. now owns 1,280 shares of the scientific and technical instruments company's stock valued at $38,000 after purchasing an additional 657 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of Cognex during the first quarter valued at $38,000. Finally, Quarry LP purchased a new stake in shares of Cognex during the fourth quarter valued at $53,000. Institutional investors own 88.12% of the company's stock.

Cognex Stock Up 1.1%

Shares of CGNX traded up $0.39 during midday trading on Wednesday, reaching $34.65. 268,857 shares of the stock were exchanged, compared to its average volume of 2,047,789. Cognex Corporation has a 12-month low of $22.67 and a 12-month high of $50.34. The firm has a 50 day simple moving average of $31.73 and a 200-day simple moving average of $31.80. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 51.00 and a beta of 1.47.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CGNX. TD Cowen raised Cognex from a "hold" rating to a "buy" rating and set a $35.00 target price for the company in a report on Monday, April 28th. UBS Group reduced their target price on Cognex from $56.00 to $53.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Truist Financial reduced their target price on Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Melius raised Cognex from a "hold" rating to a "buy" rating and set a $60.00 price objective for the company in a research note on Thursday, July 10th. Finally, Cowen raised Cognex from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $40.25.

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.