Cognex Corporation (NASDAQ:CGNX) declared a quarterly dividend on Tuesday, August 1st, Wall Street Journal reports. Shareholders of record on Friday, August 18th will be given a dividend of 0.085 per share by the scientific and technical instruments company on Friday, September 1st. This represents a $0.34 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Wednesday, August 16th.
Cognex Corporation (CGNX) traded up 1.70% during trading on Friday, reaching $101.52. The company’s stock had a trading volume of 652,422 shares. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 46.38 and a beta of 1.43. The stock’s 50 day moving average is $93.33 and its 200 day moving average is $85.39. Cognex Corporation has a 12 month low of $47.25 and a 12 month high of $110.69.
Cognex Corporation (NASDAQ:CGNX) last posted its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.08. The firm had revenue of $172.90 million for the quarter, compared to the consensus estimate of $169.79 million. Cognex Corporation had a return on equity of 19.51% and a net margin of 33.10%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 earnings per share. On average, equities analysts expect that Cognex Corporation will post $2.56 EPS for the current fiscal year.
Several research analysts have recently weighed in on CGNX shares. Cowen and Company reaffirmed a “buy” rating and issued a $100.00 price target on shares of Cognex Corporation in a report on Tuesday, July 11th. BidaskClub cut Cognex Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research raised Cognex Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, July 4th. Wolfe Research assumed coverage on Cognex Corporation in a research note on Tuesday, July 11th. They issued a “peer perform” rating on the stock. Finally, Canaccord Genuity reissued a “hold” rating and issued a $80.00 target price (up previously from $65.00) on shares of Cognex Corporation in a research note on Wednesday, May 3rd. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Cognex Corporation presently has an average rating of “Buy” and an average target price of $82.75.
In other news, CEO Robert Willett sold 55,919 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $91.73, for a total transaction of $5,129,449.87. Following the completion of the sale, the chief executive officer now directly owns 55,919 shares in the company, valued at $5,129,449.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Theodor Krantz sold 7,500 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $96.09, for a total transaction of $720,675.00. Following the sale, the director now owns 26,250 shares of the company’s stock, valued at $2,522,362.50. The disclosure for this sale can be found here. Insiders have sold 93,419 shares of company stock worth $8,947,725 over the last ninety days. Insiders own 5.60% of the company’s stock.
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Cognex Corporation declared that its board has authorized a stock repurchase program on Monday, May 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
About Cognex Corporation
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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