Cognex Co. (NASDAQ:CGNX) Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its stake in Cognex Co. (NASDAQ:CGNX - Free Report) by 25.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,062 shares of the scientific and technical instruments company's stock after selling 8,595 shares during the quarter. Tidal Investments LLC's holdings in Cognex were worth $899,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CGNX. Teza Capital Management LLC purchased a new position in shares of Cognex during the 4th quarter valued at $826,000. State of Wyoming grew its position in Cognex by 18.6% during the fourth quarter. State of Wyoming now owns 29,619 shares of the scientific and technical instruments company's stock worth $1,062,000 after buying an additional 4,652 shares in the last quarter. Sender Co & Partners Inc. purchased a new position in Cognex during the fourth quarter worth about $732,000. Snowden Capital Advisors LLC grew its position in Cognex by 97.4% during the fourth quarter. Snowden Capital Advisors LLC now owns 22,886 shares of the scientific and technical instruments company's stock worth $821,000 after buying an additional 11,291 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Cognex during the fourth quarter worth about $339,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CGNX. Robert W. Baird cut their price objective on Cognex from $42.00 to $38.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Cowen raised shares of Cognex from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. DA Davidson cut their target price on shares of Cognex from $35.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Truist Financial cut their target price on shares of Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Finally, Needham & Company LLC cut their price objective on Cognex from $41.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, May 1st. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cognex currently has an average rating of "Hold" and an average target price of $39.17.

Cognex Stock Performance

CGNX stock traded down $0.79 during mid-day trading on Friday, reaching $29.93. 1,622,671 shares of the stock traded hands, compared to its average volume of 1,579,991. Cognex Co. has a one year low of $22.67 and a one year high of $53.13. The stock has a market capitalization of $5.02 billion, a PE ratio of 49.07 and a beta of 1.45. The business has a 50-day moving average price of $27.80 and a two-hundred day moving average price of $33.50.

Cognex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Thursday, May 15th. Cognex's payout ratio is presently 47.06%.

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.