Stephens Investment Management Group LLC Boosts Position in Cognex Corporation (NASDAQ:CGNX)

Stephens Investment Management Group LLC increased its holdings in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,038,843 shares of the scientific and technical instruments company's stock after purchasing an additional 11,137 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.61% of Cognex worth $30,989,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in Cognex by 439.4% in 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 during the last quarter. GAMMA Investing LLC lifted its stake in Cognex by 155.3% in 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 buying an additional 646 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its stake 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 buying an additional 569 shares during the last quarter. UMB Bank n.a. lifted its stake in Cognex by 105.5% in 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 buying an additional 657 shares during the last quarter. Finally, Global X Japan Co. Ltd. purchased a new stake in Cognex in the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 88.12% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CGNX shares. DA Davidson reiterated a "neutral" rating and issued a $32.00 price objective on shares of Cognex in a research note on Monday, June 16th. Robert W. Baird boosted their price objective on Cognex from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Citigroup reduced their price objective on Cognex from $37.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Truist Financial reduced their price objective on Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, Cowen raised Cognex from a "hold" rating to a "buy" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $40.77.

Cognex Price Performance

Shares of CGNX stock opened at $34.34 on Friday. The business's fifty day moving average price is $30.85 and its 200 day moving average price is $32.01. Cognex Corporation has a 1-year low of $22.67 and a 1-year high of $53.13. The firm has a market capitalization of $5.76 billion, a PE ratio of 50.50 and a beta of 1.47.

Cognex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, May 15th. Cognex's dividend payout ratio is presently 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.

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