Cognex (NASDAQ:CGNX) Downgraded by Cowen

Cowen downgraded shares of Cognex (NASDAQ:CGNXGet Rating) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. Cowen currently has $50.00 target price on the scientific and technical instruments company’s stock, down from their previous target price of $55.00.

A number of other research analysts have also weighed in on the company. Daiwa Capital Markets decreased their price objective on Cognex to $54.00 in a report on Tuesday, August 9th. Sanford C. Bernstein upgraded Cognex from a market perform rating to an outperform rating and set a $65.00 price objective on the stock in a report on Wednesday, August 3rd. JPMorgan Chase & Co. lowered Cognex from a neutral rating to an underweight rating and set a $40.00 price objective on the stock. in a report on Friday, August 12th. Raymond James decreased their price objective on Cognex from $75.00 to $65.00 in a report on Sunday, November 6th. Finally, Needham & Company LLC raised their target price on Cognex from $52.00 to $54.00 and gave the stock a buy rating in a research note on Friday, November 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $52.92.

Cognex Price Performance

Shares of NASDAQ:CGNX opened at $49.17 on Tuesday. Cognex has a 1 year low of $40.21 and a 1 year high of $80.30. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 40.64 and a beta of 1.59. The business’s 50 day moving average price is $45.09 and its 200-day moving average price is $45.65.

Cognex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.57%. This is an increase from Cognex’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, November 17th. Cognex’s dividend payout ratio (DPR) is presently 23.14%.

Institutional Trading of Cognex

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Utah Retirement Systems increased its position in shares of Cognex by 0.7% during the 3rd quarter. Utah Retirement Systems now owns 30,695 shares of the scientific and technical instruments company’s stock worth $1,272,000 after purchasing an additional 200 shares during the last quarter. Banque Cantonale Vaudoise boosted its holdings in Cognex by 3.7% during the 2nd quarter. Banque Cantonale Vaudoise now owns 6,616 shares of the scientific and technical instruments company’s stock valued at $281,000 after acquiring an additional 233 shares during the period. Ceredex Value Advisors LLC boosted its holdings in Cognex by 45.5% during the 1st quarter. Ceredex Value Advisors LLC now owns 800 shares of the scientific and technical instruments company’s stock valued at $62,000 after acquiring an additional 250 shares during the period. SVB Wealth LLC boosted its stake in shares of Cognex by 0.9% in the 3rd quarter. SVB Wealth LLC now owns 27,417 shares of the scientific and technical instruments company’s stock valued at $1,137,000 after buying an additional 256 shares during the period. Finally, Probity Advisors Inc. boosted its stake in shares of Cognex by 7.3% in the 1st quarter. Probity Advisors Inc. now owns 3,819 shares of the scientific and technical instruments company’s stock valued at $295,000 after buying an additional 259 shares during the period. 90.15% of the stock is owned by institutional investors and hedge funds.

About Cognex

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Cognex Corporation provides machine vision products that capture and analyze visual information in order 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, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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