According to Zacks, “Cognex Corporation designs, develops, manufactures, and markets machine vision systems, or computers that can see. Cognex is the world’s leader in the machine vision industry, having shipped more than 200,000 vision systems, representing nearly $1.5 billion in cumulative revenue, since the company’s founding time. Cognex’s Modular Vision Systems Division, headquartered in Natick, Massachusetts, specializes in machine vision systems that are used for automating the manufacture of a wide range of discrete items and for assuring their quality. Cognex’s Surface Inspection Systems Division, headquartered in Alameda, California, specializes in machine vision systems that are used for inspecting the surfaces of products manufactured in a continuous fashion, such as metals, papers and plastics. “
Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Cognex from a sell rating to a strong sell rating in a report on Monday, October 14th. Robert W. Baird boosted their price objective on shares of Cognex from $42.00 to $47.00 and gave the stock a neutral rating in a report on Monday, September 23rd. Morgan Stanley set a $47.00 price objective on shares of Cognex and gave the stock a hold rating in a report on Friday, November 1st. Goldman Sachs Group downgraded shares of Cognex from a neutral rating to a sell rating and decreased their price objective for the stock from $45.00 to $36.00 in a report on Tuesday, July 16th. Finally, Daiwa Capital Markets set a $53.00 target price on shares of Cognex and gave the stock a hold rating in a research report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $50.45.
Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Monday, October 28th. The scientific and technical instruments company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $183.33 million for the quarter, compared to the consensus estimate of $177.78 million. Cognex had a net margin of 22.55% and a return on equity of 14.21%. The firm’s revenue was down 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, equities research analysts forecast that Cognex will post 0.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.055 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.22 dividend on an annualized basis and a yield of 0.41%. This is a boost from Cognex’s previous quarterly dividend of $0.05. Cognex’s payout ratio is presently 16.13%.
In other news, CEO Robert Willett sold 19,408 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $53.86, for a total value of $1,045,314.88. Following the completion of the transaction, the chief executive officer now owns 19,408 shares of the company’s stock, valued at $1,045,314.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dianne M. Parrotte sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $45.00, for a total transaction of $40,500.00. Following the completion of the transaction, the director now directly owns 19,700 shares of the company’s stock, valued at approximately $886,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,808 shares of company stock valued at $7,993,210. 5.60% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Bartlett & Co. LLC acquired a new position in shares of Cognex in the third quarter valued at approximately $25,000. NEXT Financial Group Inc raised its position in shares of Cognex by 1,081.8% in the second quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 476 shares during the last quarter. Huntington National Bank raised its position in shares of Cognex by 173.6% in the second quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 401 shares during the last quarter. Coastal Capital Group Inc. acquired a new position in shares of Cognex in the second quarter valued at approximately $38,000. Finally, Quadrant Capital Group LLC raised its position in shares of Cognex by 622.3% in the third quarter. Quadrant Capital Group LLC now owns 1,199 shares of the scientific and technical instruments company’s stock valued at $56,000 after buying an additional 1,033 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.
Cognex Company Profile
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture 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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