Cognex Co. (NASDAQ:CGNX) Shares Sold by Asset Management One Co. Ltd.

Posted by Defense World Staff on May 2nd, 2023

Asset Management One Co. Ltd. lowered its position in Cognex Co. (NASDAQ:CGNX – Get Rating) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,225 shares of the scientific and technical instruments company’s stock after selling 6,512 shares during the period. Asset Management One Co. Ltd.’s holdings in Cognex were worth $3,146,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in Cognex by 86.6% in the fourth quarter. Allworth Financial LP now owns 793 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 368 shares during the period. Janiczek Wealth Management LLC lifted its position in shares of Cognex by 58.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 833 shares of the scientific and technical instruments company’s stock valued at $44,000 after acquiring an additional 308 shares during the period. Pinnacle Financial Partners Inc. acquired a new stake in shares of Cognex during the 3rd quarter valued at approximately $48,000. Wipfli Financial Advisors LLC acquired a new stake in shares of Cognex during the 3rd quarter valued at approximately $48,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Cognex by 136.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,248 shares of the scientific and technical instruments company’s stock valued at $52,000 after acquiring an additional 720 shares during the period. Institutional investors and hedge funds own 91.24% of the company’s stock.

Cognex Stock Up 1.2 %

Shares of NASDAQ CGNX opened at $48.28 on Tuesday. Cognex Co. has a 52-week low of $40.21 and a 52-week high of $69.02. The firm has a fifty day moving average of $48.20 and a 200-day moving average of $48.99. The stock has a market capitalization of $8.34 billion, a PE ratio of 39.25 and a beta of 1.61.

Cognex (NASDAQ:CGNX – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Cognex had a net margin of 21.42% and a return on equity of 16.42%. The company had revenue of $239.43 million during the quarter, compared to analysts’ expectations of $245.09 million. During the same period in the previous year, the company earned $0.30 EPS. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. Equities research analysts expect that Cognex Co. will post 0.74 EPS for the current fiscal year.

Cognex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Friday, March 3rd were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, March 2nd. This represents a $0.28 annualized dividend and a dividend yield of 0.58%. Cognex’s dividend payout ratio is presently 22.76%.

Analysts Set New Price Targets

CGNX has been the subject of a number of research reports. StockNews.com initiated coverage on shares of Cognex in a research report on Thursday, March 16th. They set a “hold” rating for the company. Cowen cut their price objective on Cognex from $50.00 to $48.00 in a research report on Friday, February 17th. Needham & Company LLC lifted their price objective on Cognex from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Stephens restated an “equal weight” rating and set a $45.00 price objective on shares of Cognex in a research report on Tuesday, February 21st. Finally, TheStreet upgraded Cognex from a “c” rating to a “b-” rating in a research report on Friday, February 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.00.

Insider Buying and Selling

In related news, Director Patrick Alias sold 4,375 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $49.53, for a total transaction of $216,693.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Patrick Alias sold 4,375 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $49.53, for a total transaction of $216,693.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodor Krantz sold 912 shares of the company’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $48.39, for a total transaction of $44,131.68. Following the sale, the director now directly owns 35,500 shares of the company’s stock, valued at $1,717,845. The disclosure for this sale can be found here. In the last three months, insiders sold 16,287 shares of company stock valued at $883,325. Company insiders own 1.10% of the company’s stock.

About Cognex

(Get Rating)

Cognex Corp. engages in the provision of machine vision products and solutions. Its products include vision sensors, vision systems, 3D vision systems, barcode readers, barcode verifiers, vision software, and vision tools. Its solutions include alignment, dimensioning, item detection, edge intelligence, logistics barcode reading systems and tunnels, water identification, and tire inspection.