Cognex (NASDAQ:CGNX) Receives Neutral Rating from DA Davidson

DA Davidson restated their neutral rating on shares of Cognex (NASDAQ:CGNX) in a research report report published on Monday morning,Benzinga reports. DA Davidson currently has a $32.00 target price on the scientific and technical instruments company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Citigroup lowered their price target on shares of Cognex from $37.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Cowen raised shares of Cognex from a “hold” rating to a “buy” rating in a report on Monday, April 28th. Hsbc Global Res cut shares of Cognex from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Truist Financial lowered their price target on shares of Cognex from $37.00 to $29.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group lowered their price target on shares of Cognex from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.17.

Cognex Trading Up 1.3%

NASDAQ:CGNX opened at $30.54 on Monday. The stock has a market capitalization of $5.13 billion, a PE ratio of 50.07 and a beta of 1.47. The firm’s 50 day moving average is $28.39 and its 200 day moving average is $32.73. Cognex has a 12 month low of $22.67 and a 12 month high of $53.13.

Cognex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. Cognex’s payout ratio is 47.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CGNX. Van ECK Associates Corp grew its position in shares of Cognex by 27.9% during the 4th quarter. Van ECK Associates Corp now owns 127,256 shares of the scientific and technical instruments company’s stock valued at $4,563,000 after purchasing an additional 27,727 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Cognex by 41.5% during the 4th quarter. Vontobel Holding Ltd. now owns 42,905 shares of the scientific and technical instruments company’s stock valued at $1,539,000 after purchasing an additional 12,581 shares in the last quarter. Principal Securities Inc. grew its position in shares of Cognex by 50.2% during the 4th quarter. Principal Securities Inc. now owns 1,047 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 350 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Cognex by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 5,616 shares of the scientific and technical instruments company’s stock valued at $201,000 after purchasing an additional 270 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Cognex by 30.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,346 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 317 shares in the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

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.