Brokerages Set Cognex Co. (NASDAQ:CGNX) Price Target at $47.92

Cognex Co. (NASDAQ:CGNX) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $47.92.

CGNX has been the subject of several recent research reports. Truist Financial raised their target price on shares of Cognex from $42.00 to $43.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Needham & Company LLC cut their price objective on Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald upgraded Cognex to a “strong-buy” rating in a report on Friday, December 20th. Citigroup cut their price target on Cognex from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Stephens reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Cognex in a research note on Thursday, January 2nd.

Cognex Stock Down 1.2 %

Shares of CGNX stock opened at $38.21 on Monday. The stock has a market cap of $6.55 billion, a P/E ratio of 73.48 and a beta of 1.40. Cognex has a fifty-two week low of $34.98 and a fifty-two week high of $53.13. The business has a fifty day simple moving average of $37.96 and a 200-day simple moving average of $39.35.

Insider Activity at Cognex

In related news, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $40.03, for a total value of $1,040,780.00. Following the transaction, the director now owns 26,608 shares in the company, valued at approximately $1,065,118.24. This trade represents a 49.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Joerg Kuechen sold 2,934 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $37.75, for a total transaction of $110,758.50. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Cognex

Several hedge funds and other institutional investors have recently made changes to their positions in CGNX. Riverview Trust Co acquired a new position in shares of Cognex during the third quarter worth about $25,000. Advisors Asset Management Inc. raised its holdings in shares of Cognex by 123.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 394 shares during the period. SBI Securities Co. Ltd. acquired a new position in Cognex during the 4th quarter worth approximately $29,000. SRS Capital Advisors Inc. boosted its holdings in 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 worth $32,000 after acquiring an additional 295 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Cognex in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Company Profile

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.