Analysts Set Cognex Co. (NASDAQ:CGNX) Price Target at $47.91

Shares of Cognex Co. (NASDAQ:CGNX) have received an average recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $47.91.

CGNX has been the topic of several recent analyst reports. Needham & Company LLC dropped their price target on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. The Goldman Sachs Group dropped their price target on Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. DA Davidson lowered their target price on Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Robert W. Baird lowered their target price on Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Finally, Truist Financial lowered Cognex from a “buy” rating to a “hold” rating and lowered their target price for the stock from $46.00 to $43.00 in a research report on Tuesday, November 5th.

Insider Activity at Cognex

In other Cognex news, CFO Dennis Fehr bought 6,570 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $38.04 per share, with a total value of $249,922.80. Following the transaction, the chief financial officer now directly owns 6,570 shares in the company, valued at $249,922.80. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cognex

Several large investors have recently made changes to their positions in CGNX. Riverview Trust Co purchased a new stake in Cognex in the 3rd quarter worth about $25,000. Advisors Asset Management Inc. increased its holdings in Cognex by 123.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 394 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Cognex in the 3rd quarter worth about $36,000. GAMMA Investing LLC increased its holdings in Cognex by 276.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock worth $51,000 after acquiring an additional 798 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Cognex in the 2nd quarter worth about $55,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cognex Stock Performance

Shares of CGNX opened at $40.67 on Wednesday. Cognex has a 52-week low of $34.79 and a 52-week high of $53.13. The business’s 50 day moving average price is $39.93 and its two-hundred day moving average price is $42.96. The firm has a market cap of $6.98 billion, a PE ratio of 75.52 and a beta of 1.40.

Cognex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a $0.08 dividend. This is a positive change from Cognex’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Thursday, November 14th. Cognex’s dividend payout ratio is presently 61.54%.

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.