Cognex Corp. (CGNX) To Go Ex-Dividend on November 30th
Cognex Corp. (NASDAQ:CGNX) declared a quarterly dividend on Monday, October 31st. Stockholders of record on Friday, December 2nd will be given a dividend of 0.075 per share on Friday, December 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Wednesday, November 30th.
Cognex Corp. (NASDAQ:CGNX) opened at 60.02 on Tuesday. The company has a market capitalization of $5.14 billion, a P/E ratio of 39.88 and a beta of 1.32. The stock has a 50 day moving average of $54.54 and a 200-day moving average of $48.34. Cognex Corp. has a 52-week low of $28.01 and a 52-week high of $61.50.
Cognex Corp. (NASDAQ:CGNX) last issued its earnings results on Monday, October 31st. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.13. Cognex Corp. had a net margin of 26.59% and a return on equity of 13.67%. The company had revenue of $147.95 million for the quarter, compared to the consensus estimate of $50.93 million. During the same quarter in the previous year, the company earned $1.19 EPS. The firm’s revenue for the quarter was up 37.5% compared to the same quarter last year. On average, equities analysts forecast that Cognex Corp. will post $1.57 earnings per share for the current year.
A number of research firms have issued reports on CGNX. Needham & Company LLC upped their target price on shares of Cognex Corp. from $42.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. upped their price target on Cognex Corp. from $37.00 to $55.00 and gave the company an “underperform” rating in a research note on Tuesday, August 2nd. Zacks Investment Research raised Cognex Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Wednesday, November 2nd. Canaccord Genuity upped their price target on Cognex Corp. from $45.00 to $49.00 and gave the company a “hold” rating in a research note on Tuesday, August 2nd. Finally, Stephens started coverage on Cognex Corp. in a research note on Tuesday, October 25th. They issued an “equal weight” rating and a $50.00 price target for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Cognex Corp. has an average rating of “Buy” and a consensus price target of $49.11.
In other Cognex Corp. news, 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 of the company’s stock, valued at approximately $540,700. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bruce Robinson J sold 25,750 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $60.95, for a total value of $1,569,462.50. Following the transaction, the director now directly owns 16,875 shares of the company’s stock, valued at approximately $1,028,531.25. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its position in Cognex Corp. by 90.7% in the third quarter. Ameritas Investment Partners Inc. now owns 25,648 shares of the company’s stock worth $1,356,000 after buying an additional 12,200 shares during the period. D. E. Shaw & Co. Inc. increased its position in Cognex Corp. by 234.9% in the third quarter. D. E. Shaw & Co. Inc. now owns 93,844 shares of the company’s stock worth $4,960,000 after buying an additional 65,819 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Cognex Corp. during the third quarter worth $6,538,000. UBS Group AG increased its position in Cognex Corp. by 83.3% in the third quarter. UBS Group AG now owns 64,435 shares of the company’s stock worth $3,405,000 after buying an additional 29,273 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in Cognex Corp. during the third quarter worth $270,000. 91.82% of the stock is owned by hedge funds and other institutional investors.
Cognex Corp. Company Profile
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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