Y Intercept Hong Kong Ltd Reduces Stock Holdings in Cognex Corporation $CGNX

Key Points

• Y Intercept Hong Kong Ltd sharply reduced its Cognex stake in the first quarter, cutting holdings by 87.8% and selling 134,266 shares. After the sale, it held 18,640 shares worth about $913,000.
• Cognex reported strong quarterly results, posting earnings of $0.34 per share versus expectations of $0.25 and revenue of $268.44 million, up 24.3% year over year. The company also issued Q2 guidance of $0.40 to $0.44 EPS.
• Analyst sentiment remains constructive, with several firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average price target of $72.00. Recent insider selling was also notable, with executives selling more than 224,000 shares over the last 90 days.

Y Intercept Hong Kong Ltd cut its holdings in Cognex Corporation (NASDAQ:CGNX - Free Report) by 87.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,640 shares of the scientific and technical instruments company's stock after selling 134,266 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Cognex were worth $913,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. increased its holdings in shares of Cognex by 402.2% during the first quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company's stock valued at $27,000 after acquiring an additional 736 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Cognex by 74.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 764 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 327 shares in the last quarter. Miller Global Investments LLC purchased a new stake in Cognex during the 4th quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in Cognex during the 4th quarter worth approximately $39,000. Finally, Larson Financial Group LLC increased its stake in Cognex by 202.7% during the 4th quarter. Larson Financial Group LLC now owns 1,105 shares of the scientific and technical instruments company's stock valued at $40,000 after purchasing an additional 740 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

Cognex Stock Performance

CGNX stock opened at $66.80 on Monday. The firm has a market cap of $11.12 billion, a PE ratio of 79.52 and a beta of 1.49. The firm's fifty day moving average is $64.99 and its 200 day moving average is $53.57. Cognex Corporation has a one year low of $32.55 and a one year high of $72.88.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. Cognex had a net margin of 13.62% and a return on equity of 10.89%. The business had revenue of $268.44 million during the quarter, compared to the consensus estimate of $245.98 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The company's revenue was up 24.3% compared to the same quarter last year. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. Research analysts predict that Cognex Corporation will post 1.48 earnings per share for the current fiscal year.

Cognex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a dividend of $0.085 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.34 dividend on an annualized basis and a yield of 0.5%. Cognex's dividend payout ratio is currently 40.48%.

Wall Street Analysts Forecast Growth

CGNX has been the subject of a number of research analyst reports. Stephens raised their price target on shares of Cognex from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Seaport Research Partners set a $75.00 target price on Cognex in a research report on Tuesday, May 26th. Weiss Ratings restated a "hold (c)" rating on shares of Cognex in a research note on Friday, May 15th. Zacks Research raised Cognex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 16th. Finally, Citigroup reiterated a "neutral" rating and set a $68.00 price target (up from $60.00) on shares of Cognex in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Cognex presently has an average rating of "Moderate Buy" and an average price target of $72.00.

Insiders Place Their Bets

In other Cognex news, VP Darren Marc Long sold 20,252 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $66.34, for a total value of $1,343,517.68. Following the sale, the vice president directly owned 3,990 shares of the company's stock, valued at approximately $264,696.60. This trade represents a 83.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Fennell sold 64,873 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $67.05, for a total value of $4,349,734.65. Following the completion of the sale, the insider owned 11,263 shares of the company's stock, valued at $755,184.15. This trade represents a 85.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 224,847 shares of company stock worth $14,975,098. 1.70% of the stock is owned by corporate insiders.

Cognex Company Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company's product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.

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