Cognex Co. (NASDAQ:CGNX) Short Interest Down 23.1% in April

Cognex Co. (NASDAQ:CGNXGet Rating) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 2,270,000 shares, a drop of 23.1% from the March 31st total of 2,950,000 shares. Based on an average daily trading volume, of 900,400 shares, the short-interest ratio is presently 2.5 days. Currently, 1.4% of the company’s shares are sold short.

Cognex stock opened at $67.63 on Monday. Cognex has a 12-month low of $61.51 and a 12-month high of $92.17. The firm’s fifty day moving average is $70.65 and its 200 day moving average is $73.82. The company has a market capitalization of $11.76 billion, a PE ratio of 43.35 and a beta of 1.65.

Cognex (NASDAQ:CGNXGet Rating) last released its earnings results on Thursday, February 17th. The scientific and technical instruments company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.12. Cognex had a net margin of 26.99% and a return on equity of 19.22%. The company had revenue of $244.07 million for the quarter, compared to the consensus estimate of $224.48 million. During the same quarter in the previous year, the company earned $0.39 EPS. On average, analysts anticipate that Cognex will post 1.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Friday, March 4th were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Thursday, March 3rd. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.38%. Cognex’s payout ratio is presently 16.67%.

Several institutional investors have recently added to or reduced their stakes in CGNX. DekaBank Deutsche Girozentrale increased its position in shares of Cognex by 12.1% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 763,795 shares of the scientific and technical instruments company’s stock worth $59,785,000 after acquiring an additional 82,387 shares in the last quarter. LPL Financial LLC increased its position in shares of Cognex by 20.6% during the third quarter. LPL Financial LLC now owns 46,727 shares of the scientific and technical instruments company’s stock worth $3,748,000 after acquiring an additional 7,996 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Cognex by 15.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 223,704 shares of the scientific and technical instruments company’s stock worth $17,395,000 after acquiring an additional 30,059 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Cognex by 4.5% during the third quarter. Franklin Resources Inc. now owns 936,451 shares of the scientific and technical instruments company’s stock worth $75,122,000 after acquiring an additional 40,266 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Cognex by 5.2% during the third quarter. Daiwa Securities Group Inc. now owns 9,472 shares of the scientific and technical instruments company’s stock worth $760,000 after acquiring an additional 467 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Several equities research analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Cognex from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 7th. The Goldman Sachs Group cut their target price on shares of Cognex from $77.00 to $67.00 and set a “sell” rating on the stock in a research report on Monday, March 7th. TheStreet upgraded shares of Cognex from a “c+” rating to a “b-” rating in a research report on Tuesday, April 19th. JPMorgan Chase & Co. upgraded shares of Cognex from an “underweight” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $68.00 in a research report on Friday, February 18th. Finally, StockNews.com began coverage on shares of Cognex in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Cognex currently has an average rating of “Buy” and a consensus target price of $84.50.

Cognex Company Profile (Get Rating)

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.

Further Reading

Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.