Cognex Corporation (CGNX) Sets New 1-Year High at $141.51

Cognex Corporation (NASDAQ:CGNX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $141.51 and last traded at $140.52, with a volume of 1208100 shares changing hands. The stock had previously closed at $137.94.

A number of equities research analysts have issued reports on the stock. Cowen and Company increased their price objective on shares of Cognex Corporation from $100.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Wolfe Research raised shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Canaccord Genuity increased their price objective on shares of Cognex Corporation from $95.00 to $120.00 and gave the company a “hold” rating in a report on Tuesday, October 31st. Robert W. Baird increased their price objective on shares of Cognex Corporation from $100.00 to $124.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research raised shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 price objective for the company in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $106.88.

The company has a market capitalization of $12,210.00, a price-to-earnings ratio of 51.85 and a beta of 1.48.

Shares of Cognex Corporation are going to split on Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly created shares will be distributed to shareholders after the market closes on Friday, December 1st.

Cognex Corporation (NASDAQ:CGNX) last posted its earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $259.74 million during the quarter, compared to analyst estimates of $255.95 million. Cognex Corporation had a net margin of 34.77% and a return on equity of 23.31%. Cognex Corporation’s revenue for the quarter was up 75.6% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. research analysts anticipate that Cognex Corporation will post 2.77 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a $0.09 dividend. The ex-dividend date is Thursday, November 16th. This is an increase from Cognex Corporation’s previous quarterly dividend of $0.09. This represents a $0.36 dividend on an annualized basis and a yield of 0.25%. Cognex Corporation’s dividend payout ratio (DPR) is currently 13.28%.

In related news, Director Bruce Robinson J sold 7,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $106.50, for a total value of $745,500.00. Following the completion of the sale, the director now directly owns 5,625 shares in the company, valued at $599,062.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Theodor Krantz sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $134.05, for a total value of $2,010,750.00. Following the completion of the sale, the director now owns 26,250 shares of the company’s stock, valued at $3,518,812.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,991 shares of company stock valued at $19,974,890. 5.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Cognex Corporation by 3.5% in the second quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock worth $584,711,000 after buying an additional 231,014 shares during the last quarter. Vanguard Group Inc. lifted its position in Cognex Corporation by 2.4% in the second quarter. Vanguard Group Inc. now owns 6,734,216 shares of the scientific and technical instruments company’s stock worth $571,735,000 after buying an additional 159,355 shares during the last quarter. Harding Loevner LP lifted its position in Cognex Corporation by 50.1% in the third quarter. Harding Loevner LP now owns 2,835,891 shares of the scientific and technical instruments company’s stock worth $135,890,000 after buying an additional 947,119 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Cognex Corporation by 126.7% in the second quarter. Ameriprise Financial Inc. now owns 2,342,312 shares of the scientific and technical instruments company’s stock worth $198,864,000 after buying an additional 1,309,047 shares during the last quarter. Finally, State Street Corp lifted its position in Cognex Corporation by 2.2% in the second quarter. State Street Corp now owns 2,169,073 shares of the scientific and technical instruments company’s stock worth $184,153,000 after buying an additional 45,840 shares during the last quarter. Institutional investors own 85.83% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Cognex Corporation (CGNX) Sets New 1-Year High at $141.51” was first published by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this piece can be read at https://www.com-unik.info/2017/11/20/cognex-corporation-cgnx-sets-new-1-year-high-at-141-51.html.

About Cognex Corporation

Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.

What are top analysts saying about Cognex Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Cognex Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit