Assenagon Asset Management S.A. cut its stake in Cognex Co. (NASDAQ:CGNX – Free Report) by 54.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,809 shares of the scientific and technical instruments company’s stock after selling 31,249 shares during the period. Assenagon Asset Management S.A.’s holdings in Cognex were worth $1,446,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC acquired a new position in shares of Cognex in the 1st quarter valued at $335,000. Raymond James Trust N.A. raised its stake in shares of Cognex by 29.4% in the 1st 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 buying an additional 1,277 shares in the last quarter. Cibc World Market Inc. acquired a new position in shares of Cognex in the 1st quarter valued at $3,102,000. Dimensional Fund Advisors LP raised its stake in shares of Cognex by 15.3% in the 1st 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 buying an additional 80,615 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Cognex by 10.2% in the 1st 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 buying an additional 2,990 shares in the last quarter. 89.86% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
CGNX has been the subject of a number of recent research reports. KeyCorp initiated coverage on shares of Cognex in a research note on Monday, October 2nd. They issued a “sector weight” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Cognex in a research report on Friday, September 1st. Morgan Stanley increased their target price on shares of Cognex from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Friday, August 4th. Citigroup initiated coverage on shares of Cognex in a research report on Wednesday, August 30th. They set a “neutral” rating and a $52.00 target price for the company. Finally, CL King initiated coverage on shares of Cognex in a research report on Friday, June 23rd. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Cognex currently has a consensus rating of “Hold” and an average target price of $50.36.
Cognex Trading Down 2.8 %
CGNX opened at $38.26 on Monday. The stock has a market capitalization of $6.59 billion, a PE ratio of 38.65 and a beta of 1.57. Cognex Co. has a 1-year low of $37.99 and a 1-year high of $59.51. The firm has a 50-day moving average price of $44.72 and a two-hundred day moving average price of $49.83.
Cognex (NASDAQ:CGNX – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.13. The firm had revenue of $242.51 million during the quarter, compared to analysts’ expectations of $230.99 million. Cognex had a net margin of 19.31% and a return on equity of 10.32%. On average, research analysts predict that Cognex Co. will post 0.51 EPS for the current year.
Cognex Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Thursday, August 17th. Cognex’s dividend payout ratio (DPR) is presently 28.28%.
About Cognex
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.
Recommended Stories
- Five stocks we like better than Cognex
- What Are Dividend Challengers?
- MarketBeat Week in Review – 10/9 – 10/13
- 3 Small Caps With Big Return Potential
- What BlackRock’s Earnings Tell You About The Stock Market Tide
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- Sociedad Quimica y Minera de Chile Well Positioned Lithium Stock
Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.
