Cognex (NASDAQ:CGNX – Free Report) had its target price cut by JPMorgan Chase & Co. from $75.00 to $65.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the scientific and technical instruments company’s stock.
Other equities analysts have also recently issued reports about the company. Stephens lowered their price target on Cognex from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday. Cantor Fitzgerald lifted their price objective on Cognex from $76.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Needham & Company LLC reduced their price objective on Cognex from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Friday. HSBC cut Cognex from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Monday, August 10th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $91.00 target price on shares of Cognex in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.21.
Get Our Latest Stock Report on CGNX
Cognex Stock Performance
Shares of CGNX stock opened at $47.78 on Friday. Cognex has a 12-month low of $34.60 and a 12-month high of $72.88. The firm’s 50 day moving average is $59.06 and its 200 day moving average is $58.04. The stock has a market capitalization of $8.04 billion, a P/E ratio of 33.41 and a beta of 1.49.
Cognex (NASDAQ:CGNX – Get Free Report) last posted its earnings results on Wednesday, November 4th. The scientific and technical instruments company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $313.39 million during the quarter, compared to the consensus estimate of $313.62 million. Cognex had a net margin of 21.50% and a return on equity of 15.75%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. As a group, equities analysts predict that Cognex will post 1.70 earnings per share for the current year.
Cognex Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be paid a dividend of $0.09 per share. This is a boost from Cognex’s previous quarterly dividend of $0.0850. The ex-dividend date is Thursday, November 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. Cognex’s dividend payout ratio is presently 23.78%.
Institutional Investors Weigh In On Cognex
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Cognex during the second quarter valued at $26,000. Mather Group LLC. increased its holdings in Cognex by 81.3% in the 3rd quarter. Mather Group LLC. now owns 446 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 200 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Cognex in the 2nd quarter worth $32,000. Transamerica Financial Advisors LLC purchased a new stake in Cognex in the 2nd quarter worth $32,000. Finally, Elevation Wealth Partners LLC lifted its stake in Cognex by 635.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 478 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 413 shares in the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.
Cognex Company Profile
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