Cognex Corporation (NASDAQ:CGNX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Cognex Corporation (NASDAQ:CGNX) have received a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $39.17.

Several research firms have weighed in on CGNX. Citigroup dropped their target price on shares of Cognex from $37.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. UBS Group dropped their target price on shares of Cognex from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Truist Financial dropped their target price on shares of Cognex from $37.00 to $29.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. DA Davidson reissued a “neutral” rating and set a $32.00 target price on shares of Cognex in a research report on Monday, June 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Cognex from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Thursday, June 12th.

Institutional Trading of Cognex

Large investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new position in shares of Cognex in the 4th quarter valued at $29,000. SRS Capital Advisors Inc. lifted its stake in shares of Cognex by 50.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 295 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Cognex by 402.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 736 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Cognex by 439.4% in the 1st quarter. Farther Finance Advisors LLC now owns 971 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 791 shares during the period. Finally, CBIZ Investment Advisory Services LLC lifted its stake in shares of Cognex by 129.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 569 shares during the period. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cognex Stock Down 2.1%

Shares of Cognex stock opened at $31.85 on Thursday. The firm’s 50 day moving average price is $30.33 and its 200-day moving average price is $32.05. Cognex has a 52-week low of $22.67 and a 52-week high of $53.13. The company has a market cap of $5.35 billion, a P/E ratio of 46.84 and a beta of 1.47.

Cognex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, May 15th. Cognex’s dividend payout ratio (DPR) is currently 47.06%.

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.