GAMMA Investing LLC Raises Position in Cognex Co. (NASDAQ:CGNX)

GAMMA Investing LLC raised its holdings in Cognex Co. (NASDAQ:CGNX) by 7,515.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,679 shares of the scientific and technical instruments company’s stock after buying an additional 31,263 shares during the period. GAMMA Investing LLC’s holdings in Cognex were worth $945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its position in Cognex by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,836 shares of the scientific and technical instruments company’s stock valued at $281,000 after buying an additional 262 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Cognex by 5.1% in 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. SRS Capital Advisors Inc. raised its holdings in shares of Cognex by 50.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 295 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Cognex by 30.8% in 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. Finally, Arizona State Retirement System raised its holdings in shares of Cognex by 0.6% in the 4th quarter. Arizona State Retirement System now owns 49,749 shares of the scientific and technical instruments company’s stock valued at $1,784,000 after purchasing an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cognex Price Performance

Shares of NASDAQ CGNX opened at $30.54 on Tuesday. Cognex Co. has a 12-month low of $22.67 and a 12-month high of $53.13. The company 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 two-hundred day moving average is $32.73.

Cognex Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CGNX shares. Truist Financial reduced their price target on shares of Cognex from $37.00 to $29.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group boosted their price target on shares of Cognex from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Thursday, June 12th. Robert W. Baird boosted their price target on shares of Cognex from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday. Stephens restated an “overweight” rating and issued a $55.00 price objective on shares of Cognex in a research note on Wednesday, March 12th. Finally, HSBC lowered shares of Cognex from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.17.

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.