Y Intercept Hong Kong Ltd Invests $1.07 Million in Cognex Corporation (NASDAQ:CGNX)

Y Intercept Hong Kong Ltd purchased a new position in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 35,814 shares of the scientific and technical instruments company's stock, valued at approximately $1,068,000.

A number of other large investors have also recently bought and sold shares of CGNX. Norges Bank acquired a new stake in Cognex during the 4th quarter worth $46,299,000. SG Americas Securities LLC boosted its stake in Cognex by 16,472.8% during the 1st quarter. SG Americas Securities LLC now owns 819,028 shares of the scientific and technical instruments company's stock worth $24,432,000 after purchasing an additional 814,086 shares during the period. Marshall Wace LLP boosted its stake in Cognex by 903.9% during the 4th quarter. Marshall Wace LLP now owns 731,232 shares of the scientific and technical instruments company's stock worth $26,222,000 after purchasing an additional 658,394 shares during the period. Millennium Management LLC boosted its stake in Cognex by 464.6% during the 4th quarter. Millennium Management LLC now owns 782,576 shares of the scientific and technical instruments company's stock worth $28,063,000 after purchasing an additional 643,959 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Cognex by 139.7% in the 4th quarter. AQR Capital Management LLC now owns 1,096,710 shares of the scientific and technical instruments company's stock worth $39,328,000 after acquiring an additional 639,258 shares during the period. Institutional investors and hedge funds own 88.12% of the company's stock.

Cognex Stock Performance

NASDAQ:CGNX traded down $0.09 during mid-day trading on Friday, hitting $34.08. 1,263,007 shares of the company's stock traded hands, compared to its average volume of 1,692,515. The firm's 50 day simple moving average is $31.59 and its 200 day simple moving average is $31.84. Cognex Corporation has a 1 year low of $22.67 and a 1 year high of $50.78. The company has a market cap of $5.72 billion, a PE ratio of 50.12 and a beta of 1.47.

Cognex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a yield of 0.94%. Cognex's dividend payout ratio (DPR) is currently 47.06%.

Analyst Ratings Changes

Several analysts have recently commented on CGNX shares. The Goldman Sachs Group raised their target price on shares of Cognex from $29.00 to $32.00 and gave the stock a "sell" rating in a research note on Thursday, June 12th. Robert W. Baird raised their target price on shares of Cognex from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Melius upgraded shares of Cognex from a "hold" rating to a "buy" rating and set a $60.00 target price for the company in a research note on Thursday, July 10th. Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. Finally, Truist Financial reduced their target price on shares of Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $40.25.

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.