DA Davidson Comments on Cognex Co.’s Q2 2022 Earnings (NASDAQ:CGNX)

Cognex Co. (NASDAQ:CGNXGet Rating) – Equities researchers at DA Davidson issued their Q2 2022 earnings per share (EPS) estimates for shares of Cognex in a research note issued to investors on Monday, May 9th. DA Davidson analyst M. Summerville forecasts that the scientific and technical instruments company will post earnings of $0.35 per share for the quarter. DA Davidson also issued estimates for Cognex’s FY2023 earnings at $1.82 EPS.

Cognex (NASDAQ:CGNXGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. Cognex had a net margin of 25.67% and a return on equity of 19.17%. The business had revenue of $282.40 million for the quarter, compared to the consensus estimate of $277.23 million. During the same period in the prior year, the business posted $0.39 earnings per share. Cognex’s revenue for the quarter was up 18.2% compared to the same quarter last year.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Cognex from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Monday. Morgan Stanley increased 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. Daiwa Capital Markets raised shares of Cognex from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $81.00 to $75.00 in a research report on Tuesday, January 25th. JPMorgan Chase & Co. raised shares of Cognex from an “underweight” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $68.00 in a research report on Friday, February 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $95.00 target price on shares of Cognex in a research report on Friday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cognex has an average rating of “Buy” and an average price target of $82.30.

NASDAQ CGNX opened at $49.12 on Tuesday. Cognex has a 1-year low of $48.92 and a 1-year high of $92.17. The company has a market capitalization of $8.54 billion, a PE ratio of 31.69 and a beta of 1.63. The firm’s fifty day simple moving average is $70.10 and its 200-day simple moving average is $72.80.

A number of institutional investors and hedge funds have recently bought and sold shares of CGNX. Spire Wealth Management lifted its position in Cognex by 81.0% in the 4th quarter. Spire Wealth Management now owns 333 shares of the scientific and technical instruments company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. UMB Bank N A MO acquired a new stake in Cognex in the 4th quarter valued at $31,000. Huntington National Bank increased its stake in Cognex by 137.0% in the 4th quarter. Huntington National Bank now owns 448 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 259 shares during the last quarter. Sageworth Trust Co of South Dakota acquired a new stake in Cognex in the 4th quarter valued at $36,000. Finally, Ceredex Value Advisors LLC acquired a new stake in Cognex in the 4th quarter valued at $43,000. 88.85% of the stock is currently owned by institutional investors and hedge funds.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 20th will be given a $0.065 dividend. The ex-dividend date is Thursday, May 19th. This represents a $0.26 annualized dividend and a yield of 0.53%. Cognex’s dividend payout ratio is currently 16.77%.

About Cognex (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.

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