Tema Etfs LLC Decreases Stock Holdings in Cognex Corporation $CGNX

Tema Etfs LLC decreased its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 243,136 shares of the scientific and technical instruments company’s stock after selling 11,152 shares during the period. Tema Etfs LLC owned about 0.15% of Cognex worth $8,748,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Cognex by 13.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 318,984 shares of the scientific and technical instruments company’s stock valued at $14,450,000 after buying an additional 37,405 shares during the period. Nordea Investment Management AB grew its holdings in shares of Cognex by 0.9% in the fourth quarter. Nordea Investment Management AB now owns 8,101,583 shares of the scientific and technical instruments company’s stock worth $292,224,000 after acquiring an additional 76,212 shares during the period. IMC Chicago LLC purchased a new stake in Cognex during the third quarter valued at $5,761,000. Bank of New York Mellon Corp increased its position in Cognex by 43.9% during the third quarter. Bank of New York Mellon Corp now owns 3,024,355 shares of the scientific and technical instruments company’s stock valued at $137,003,000 after acquiring an additional 922,149 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Cognex by 203.2% in the third quarter. Thrivent Financial for Lutherans now owns 266,954 shares of the scientific and technical instruments company’s stock valued at $12,093,000 after acquiring an additional 178,911 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Insiders Place Their Bets

In other Cognex news, Director Angelos Papadimitriou sold 4,150 shares of Cognex stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $55.58, for a total transaction of $230,657.00. Following the transaction, the director owned 16,222 shares of the company’s stock, valued at $901,618.76. The trade was a 20.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Willett sold 177,052 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $58.39, for a total transaction of $10,338,066.28. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 196,083 shares of company stock worth $11,419,321. Company insiders own 1.70% of the company’s stock.

Cognex Stock Performance

NASDAQ CGNX opened at $49.34 on Thursday. The business’s fifty day moving average is $48.97 and its 200 day moving average is $43.66. Cognex Corporation has a fifty-two week low of $22.67 and a fifty-two week high of $59.88. The company has a market capitalization of $8.24 billion, a PE ratio of 73.64 and a beta of 1.47.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Wednesday, February 11th. The scientific and technical instruments company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Cognex had a return on equity of 9.02% and a net margin of 11.51%.The business had revenue of $252.34 million during the quarter, compared to analysts’ expectations of $238.92 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts forecast that Cognex Corporation will post 0.61 EPS for the current year.

Cognex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were issued a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, February 26th. Cognex’s dividend payout ratio is currently 50.75%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CGNX shares. Needham & Company LLC raised their target price on Cognex from $47.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. UBS Group reiterated a “buy” rating and issued a $70.00 price objective on shares of Cognex in a research note on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Cognex in a report on Monday, December 29th. Cantor Fitzgerald restated an “overweight” rating and set a $63.00 target price on shares of Cognex in a research report on Friday, February 13th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Cognex in a report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Cognex Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.