Cognex Corp. (CGNX) Director Patrick Alias Sells 10,000 Shares of Stock
Cognex Corp. (NASDAQ:CGNX) Director Patrick Alias sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $54.07, for a total transaction of $540,700.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $540,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Cognex Corp. (NASDAQ:CGNX) traded down 0.2092% during mid-day trading on Thursday, hitting $55.1045. The stock had a trading volume of 118,958 shares. The stock’s 50-day moving average price is $52.26 and its 200-day moving average price is $46.50. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 36.6143 and a beta of 1.32. Cognex Corp. has a 12 month low of $28.01 and a 12 month high of $55.94.
Cognex Corp. (NASDAQ:CGNX) last issued its earnings results on Monday, October 31st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.13. The company had revenue of $147.95 million for the quarter, compared to the consensus estimate of $50.93 million. Cognex Corp. had a return on equity of 13.67% and a net margin of 26.59%. The firm’s quarterly revenue was up 37.5% on a year-over-year basis. During the same quarter last year, the company earned $1.19 EPS. On average, analysts predict that Cognex Corp. will post $1.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.54%. The ex-dividend date is Wednesday, November 30th. Cognex Corp.’s dividend payout ratio (DPR) is presently 20.13%.
Several research firms recently weighed in on CGNX. Canaccord Genuity upped their price objective on shares of Cognex Corp. from $45.00 to $49.00 and gave the stock a “hold” rating in a research report on Tuesday, August 2nd. Credit Agricole SA upgraded shares of Cognex Corp. from an “underperform” rating to an “outperform” rating in a research report on Monday. Zacks Investment Research upgraded shares of Cognex Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Wednesday, November 2nd. Stephens began coverage on shares of Cognex Corp. in a research report on Tuesday, October 25th. They issued an “equal weight” rating and a $50.00 price objective on the stock. Finally, Needham & Company LLC upped their price objective on shares of Cognex Corp. from $55.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, November 1st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Cognex Corp. presently has an average rating of “Buy” and an average price target of $49.11.
A number of hedge funds have recently modified their holdings of CGNX. Front Street Capital Management Inc. acquired a new stake in shares of Cognex Corp. during the second quarter valued at about $14,075,000. Welch & Forbes LLC increased its stake in shares of Cognex Corp. by 0.3% in the second quarter. Welch & Forbes LLC now owns 282,717 shares of the company’s stock valued at $12,185,000 after buying an additional 790 shares during the period. State Street Corp increased its stake in shares of Cognex Corp. by 0.5% in the first quarter. State Street Corp now owns 2,150,547 shares of the company’s stock valued at $83,765,000 after buying an additional 9,905 shares during the period. BlackRock Group LTD increased its stake in shares of Cognex Corp. by 10.2% in the first quarter. BlackRock Group LTD now owns 55,664 shares of the company’s stock valued at $2,168,000 after buying an additional 5,164 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Cognex Corp. by 13.8% in the second quarter. Principal Financial Group Inc. now owns 324,621 shares of the company’s stock valued at $13,991,000 after buying an additional 39,284 shares during the period. 91.01% of the stock is currently owned by institutional investors.
About Cognex Corp.
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’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.
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