Cognex (NASDAQ:CGNX) Cut to Market Perform at Cowen

Cowen cut shares of Cognex (NASDAQ:CGNXGet Rating) from an outperform rating to a market perform rating in a report published on Tuesday morning, The Fly reports. They currently have $50.00 price target on the scientific and technical instruments company’s stock, down from their previous price target of $55.00.

A number of other research firms have also weighed in on CGNX. Raymond James decreased their target price on shares of Cognex from $75.00 to $65.00 in a report on Sunday, November 6th. Needham & Company LLC upped their target price on shares of Cognex from $52.00 to $54.00 and gave the stock a buy rating in a report on Friday, November 4th. Cowen decreased their target price on shares of Cognex from $75.00 to $55.00 and set an outperform rating on the stock in a report on Wednesday, August 3rd. Stephens lowered shares of Cognex from an overweight rating to an equal weight rating and decreased their target price for the stock from $80.00 to $45.00 in a report on Wednesday, August 3rd. Finally, Sanford C. Bernstein raised shares of Cognex from a market perform rating to an outperform rating and set a $65.00 price target on the stock in a report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cognex has an average rating of Hold and a consensus target price of $52.92.

Cognex Stock Up 3.5 %

NASDAQ CGNX opened at $49.17 on Tuesday. The company’s 50 day moving average is $45.09 and its 200-day moving average is $45.65. The firm has a market cap of $8.50 billion, a P/E ratio of 40.64 and a beta of 1.59. Cognex has a 12-month low of $40.21 and a 12-month high of $80.30.

Cognex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.07 dividend. This is a boost from Cognex’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.57%. Cognex’s dividend payout ratio is 23.14%.

Institutional Investors Weigh In On Cognex

A number of institutional investors have recently made changes to their positions in the business. Utah Retirement Systems boosted its stake in shares of Cognex by 0.7% in the 3rd quarter. Utah Retirement Systems now owns 30,695 shares of the scientific and technical instruments company’s stock valued at $1,272,000 after purchasing an additional 200 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of Cognex by 3.7% in the 2nd quarter. Banque Cantonale Vaudoise now owns 6,616 shares of the scientific and technical instruments company’s stock valued at $281,000 after purchasing an additional 233 shares in the last quarter. Ceredex Value Advisors LLC boosted its stake in shares of Cognex by 45.5% in the 1st quarter. Ceredex Value Advisors LLC now owns 800 shares of the scientific and technical instruments company’s stock valued at $62,000 after purchasing an additional 250 shares in the last quarter. SVB Wealth LLC boosted its position in Cognex by 0.9% during the 3rd quarter. SVB Wealth LLC now owns 27,417 shares of the scientific and technical instruments company’s stock valued at $1,137,000 after buying an additional 256 shares during the period. Finally, Probity Advisors Inc. boosted its position in Cognex by 7.3% during the 1st quarter. Probity Advisors Inc. now owns 3,819 shares of the scientific and technical instruments company’s stock valued at $295,000 after buying an additional 259 shares during the period. Hedge funds and other institutional investors own 90.15% of the company’s stock.

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.

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