Cognex (NASDAQ:CGNX) Trading Down 4.3% – Here’s Why

Cognex Co. (NASDAQ:CGNX) shares fell 4.3% on Wednesday . The company traded as low as $31.09 and last traded at $30.97. 998,787 shares changed hands during trading, a decline of 16% from the average session volume of 1,182,938 shares. The stock had previously closed at $32.34.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CGNX. HSBC downgraded Cognex from a “buy” rating to a “hold” rating and set a $33.00 target price for the company. in a report on Friday, February 21st. Hsbc Global Res cut Cognex from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Truist Financial restated a “hold” rating and issued a $37.00 price target (down previously from $43.00) on shares of Cognex in a research report on Friday, February 14th. Stephens restated an “overweight” rating and issued a $55.00 price target on shares of Cognex in a research report on Wednesday, March 12th. Finally, Citigroup decreased their price target on Cognex from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.83.

Cognex Stock Down 0.7 %

The stock has a 50 day moving average of $35.73 and a 200 day moving average of $37.83. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 50.69 and a beta of 1.43.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Cognex had a return on equity of 5.65% and a net margin of 11.61%. As a group, sell-side analysts anticipate that Cognex Co. will post 0.61 EPS for the current fiscal year.

Cognex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, February 27th. Cognex’s dividend payout ratio (DPR) is presently 52.46%.

Insider Buying and Selling at Cognex

In other Cognex news, EVP Carl Gerst sold 6,803 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $32.73, for a total value of $222,662.19. Following the transaction, the executive vice president now directly owns 4,566 shares of the company’s stock, valued at approximately $149,445.18. The trade was a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Cognex

Institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its position 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 last quarter. SBI Securities Co. Ltd. purchased a new stake in Cognex during the 4th quarter worth about $29,000. SRS Capital Advisors Inc. increased its stake 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 last quarter. Truvestments Capital LLC bought a new position in Cognex in the 3rd quarter worth about $36,000. Finally, CBIZ Investment Advisory Services LLC increased its position in shares of Cognex by 129.9% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 569 shares during the last quarter. Institutional investors own 88.12% of the company’s stock.

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.