XTX Topco Ltd Has $1.98 Million Holdings in Cognex Corporation (NASDAQ:CGNX)

Key Points

• XTX Topco Ltd increased its stake in Cognex Corporation by 91.2%, purchasing an additional 31,701 shares to bring its total holdings to 66,453 shares, valued at approximately $1,982,000.
• Cognex recently reported earnings of $0.25 per share, exceeding expectations, and revenue of $249.09 million, representing a 4.2% annual increase.
• The company announced a quarterly dividend of $0.08 per share, with a dividend yield of 0.95%, reflecting a payout ratio of 47.06%.

XTX Topco Ltd grew its holdings in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 91.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,453 shares of the scientific and technical instruments company's stock after purchasing an additional 31,701 shares during the quarter. XTX Topco Ltd's holdings in Cognex were worth $1,982,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CGNX. Farther Finance Advisors LLC lifted its position 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 position 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. UMB Bank n.a. lifted its position 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. Global X Japan Co. Ltd. acquired a new position in Cognex in the first quarter valued at about $38,000. Finally, Quarry LP acquired a new position in Cognex in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 88.12% of the company's stock.

Cognex Trading Up 1.6%

CGNX stock traded up $0.63 during midday trading on Monday, hitting $41.10. 962,177 shares of the company's stock were exchanged, compared to its average volume of 2,096,938. Cognex Corporation has a 12-month low of $22.67 and a 12-month high of $44.17. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 57.79 and a beta of 1.47. The firm has a 50 day moving average price of $32.25 and a 200-day moving average price of $31.75.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. Cognex had a return on equity of 6.65% and a net margin of 13.13%. The business had revenue of $249.09 million during the quarter, compared to the consensus estimate of $246.70 million. During the same period in the previous year, the business earned $0.23 EPS. The business's quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts forecast that Cognex Corporation will post 0.61 EPS for the current fiscal year.

Cognex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 14th. Cognex's payout ratio is currently 45.07%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CGNX. KeyCorp raised shares of Cognex from a "sector weight" rating to an "overweight" rating and set a $50.00 target price on the stock in a research report on Friday. Robert W. Baird increased their price target on shares of Cognex from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. DA Davidson increased their price target on shares of Cognex from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Monday. TD Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating and set a $35.00 price target on the stock in a research note on Monday, April 28th. Finally, Truist Financial dropped their price target on shares of Cognex from $37.00 to $29.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.31.

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.