Cognex Co. (NASDAQ:CGNX) Shares Purchased by Daiwa Securities Group Inc.

Posted by on Jul 29th, 2023

Daiwa Securities Group Inc. boosted its holdings in Cognex Co. (NASDAQ:CGNX – Free Report) by 7.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,034 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Cognex were worth $695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CGNX. Private Advisor Group LLC acquired a new position in Cognex in the first quarter valued at $335,000. Raymond James Trust N.A. increased its stake in Cognex by 29.4% in the first quarter. Raymond James Trust N.A. now owns 5,619 shares of the scientific and technical instruments company’s stock valued at $433,000 after purchasing an additional 1,277 shares during the last quarter. Cibc World Market Inc. acquired a new position in Cognex in the first quarter valued at $3,102,000. Dimensional Fund Advisors LP increased its stake in Cognex by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 608,049 shares of the scientific and technical instruments company’s stock valued at $46,913,000 after purchasing an additional 80,615 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Cognex by 10.2% in the first quarter. Blair William & Co. IL now owns 32,214 shares of the scientific and technical instruments company’s stock valued at $2,485,000 after purchasing an additional 2,990 shares during the last quarter. 89.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on CGNX shares. Credit Suisse Group upped their target price on Cognex from $46.00 to $47.00 in a research note on Thursday, July 13th. TheStreet lowered Cognex from a “b-” rating to a “c” rating in a research note on Friday, May 5th. UBS Group upped their price target on Cognex from $48.00 to $52.00 in a research note on Friday, May 5th. StockNews.com started coverage on Cognex in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, CL King started coverage on Cognex in a research note on Friday, June 23rd. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.27.

Cognex Price Performance

Shares of NASDAQ CGNX opened at $54.04 on Friday. Cognex Co. has a 1-year low of $40.21 and a 1-year high of $59.51. The business has a 50-day moving average of $55.33 and a 200-day moving average of $51.91. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 54.04 and a beta of 1.57.

Cognex (NASDAQ:CGNX – Get Free Report) last issued its earnings results on Thursday, May 4th. The scientific and technical instruments company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $201.12 million during the quarter, compared to the consensus estimate of $193.40 million. Cognex had a return on equity of 11.59% and a net margin of 18.79%. Research analysts expect that Cognex Co. will post 0.68 EPS for the current fiscal year.

Cognex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Friday, May 19th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Thursday, May 18th. Cognex’s dividend payout ratio is currently 28.00%.

Cognex Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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