1st Global Advisors Inc. Sells 2,705 Shares of Cognex Corporation (CGNX)
1st Global Advisors Inc. lessened its stake in Cognex Corporation (NASDAQ:CGNX) by 24.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,167 shares of the scientific and technical instruments company’s stock after selling 2,705 shares during the quarter. 1st Global Advisors Inc.’s holdings in Cognex Corporation were worth $693,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Cognex Corporation by 6.1% in the 1st quarter. FMR LLC now owns 885,949 shares of the scientific and technical instruments company’s stock valued at $74,375,000 after buying an additional 51,144 shares during the period. BlackRock Inc. boosted its stake in shares of Cognex Corporation by 16,264.7% in the 1st quarter. BlackRock Inc. now owns 6,656,024 shares of the scientific and technical instruments company’s stock valued at $558,773,000 after buying an additional 6,615,351 shares during the period. Airain ltd purchased a new position in shares of Cognex Corporation in the 2nd quarter valued at about $1,074,000. Prudential Financial Inc. boosted its stake in shares of Cognex Corporation by 24.8% in the 2nd quarter. Prudential Financial Inc. now owns 427,606 shares of the scientific and technical instruments company’s stock valued at $36,303,000 after buying an additional 84,976 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Cognex Corporation by 69.9% in the 1st quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock valued at $133,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.
In other Cognex Corporation news, Director Theodor Krantz sold 9,750 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $103.78, for a total transaction of $1,011,855.00. Following the completion of the sale, the director now owns 22,500 shares in the company, valued at approximately $2,335,050. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jerry A. Schneider sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $102.67, for a total value of $513,350.00. Following the sale, the director now owns 6,000 shares of the company’s stock, valued at approximately $616,020. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,750 shares of company stock valued at $13,242,726. 5.60% of the stock is owned by insiders.
Cognex Corporation (NASDAQ:CGNX) traded up 1.00% during midday trading on Monday, reaching $119.47. The company had a trading volume of 76,964 shares. Cognex Corporation has a 12 month low of $49.68 and a 12 month high of $119.96. The firm has a market capitalization of $10.34 billion, a PE ratio of 54.58 and a beta of 1.42. The firm’s 50-day moving average price is $111.90 and its 200 day moving average price is $96.56.
Cognex Corporation (NASDAQ:CGNX) last issued its quarterly earnings data on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. Cognex Corporation had a return on equity of 19.51% and a net margin of 33.10%. The firm had revenue of $172.90 million during the quarter, compared to analyst estimates of $169.79 million. During the same quarter last year, the firm earned $0.50 EPS. Cognex Corporation’s quarterly revenue was up 17.4% on a year-over-year basis. Equities analysts anticipate that Cognex Corporation will post $2.55 earnings per share for the current fiscal year.
CGNX has been the subject of several recent research reports. Cowen and Company reiterated a “buy” rating and issued a $100.00 price objective on shares of Cognex Corporation in a research note on Tuesday, July 11th. Zacks Investment Research upgraded Cognex Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Tuesday, July 4th. BidaskClub cut Cognex Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Wolfe Research upgraded Cognex Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cognex Corporation currently has an average rating of “Buy” and an average price target of $82.75.
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Cognex Corporation Profile
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 the 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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