Cognex Corp. (CGNX) Stock Price Down 2.7%
Cognex Corp. (NASDAQ:CGNX) traded down 2.7% during mid-day trading on Wednesday . The company traded as low as $47.05 and last traded at $47.62, with a volume of 690,775 shares changing hands. The stock had previously closed at $48.94.
A number of equities research analysts have issued reports on the stock. Credit Agricole SA boosted their target price on shares of Cognex Corp. from $37.00 to $55.00 and gave the company an “underperform” rating in a report on Tuesday. Canaccord Genuity boosted their target price on shares of Cognex Corp. from $45.00 to $49.00 and gave the company a “hold” rating in a report on Tuesday. Needham & Company LLC boosted their target price on shares of Cognex Corp. from $42.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. Sanford C. Bernstein initiated coverage on shares of Cognex Corp. in a report on Monday, June 6th. They set a “market perform” rating and a $40.10 target price on the stock. Finally, Zacks Investment Research upgraded shares of Cognex Corp. from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $46.90.
The stock has a 50-day moving average of $43.51 and a 200 day moving average of $39.33. The company has a market capitalization of $4.24 billion and a P/E ratio of 24.0081.
Cognex Corp. (NASDAQ:CGNX) last posted its earnings results on Monday, August 1st. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.07. The company had revenue of $147.27 million for the quarter, compared to analysts’ expectations of $138.11 million. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. Equities research analysts predict that Cognex Corp. will post $1.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.30 annualized dividend and a yield of 0.61%.
In other Cognex Corp. news, Director Reuben Wasserman sold 7,500 shares of Cognex Corp. stock in a transaction on Friday, May 27th. The shares were sold at an average price of $43.05, for a total value of $322,875.00. Following the completion of the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $322,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Willett sold 125,000 shares of Cognex Corp. stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $47.93, for a total transaction of $5,991,250.00. Following the completion of the transaction, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at $1,198,250. The disclosure for this sale can be found here.
Other institutional investors have modified their holdings of the company. American International Group Inc. boosted its position in shares of Cognex Corp. by 3.4% in the fourth quarter. American International Group Inc. now owns 178,853 shares of the company’s stock worth $6,040,000 after buying an additional 5,851 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Cognex Corp. by 7.9% in the fourth quarter. Bank of Montreal Can now owns 229,815 shares of the company’s stock worth $7,761,000 after buying an additional 16,834 shares during the last quarter. US Bancorp DE boosted its position in shares of Cognex Corp. by 50.0% in the fourth quarter. US Bancorp DE now owns 55,964 shares of the company’s stock worth $1,890,000 after buying an additional 18,654 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Cognex Corp. by 28.8% in the fourth quarter. Morgan Stanley now owns 350,859 shares of the company’s stock worth $11,849,000 after buying an additional 78,372 shares during the last quarter.
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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