Vanguard Group Inc. Has $842.52 Million Stock Holdings in Cognex Corporation $CGNX

Vanguard Group Inc. grew its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 2.1% during the 3rd quarter, Holdings Channel reports. The firm owned 18,598,728 shares of the scientific and technical instruments company’s stock after buying an additional 374,999 shares during the period. Vanguard Group Inc. owned about 0.11% of Cognex worth $842,522,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CGNX. Royal Bank of Canada increased its holdings in Cognex by 13.2% during the first quarter. Royal Bank of Canada now owns 200,351 shares of the scientific and technical instruments company’s stock worth $5,976,000 after buying an additional 23,326 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Cognex in the 1st quarter valued at about $291,000. Intech Investment Management LLC grew its position in shares of Cognex by 24.1% in the 1st quarter. Intech Investment Management LLC now owns 47,444 shares of the scientific and technical instruments company’s stock valued at $1,415,000 after acquiring an additional 9,223 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Cognex by 402.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 736 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Cognex in the 2nd quarter valued at about $460,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Price Performance

CGNX opened at $56.03 on Monday. The business has a fifty day simple moving average of $41.39 and a 200 day simple moving average of $42.14. Cognex Corporation has a 1 year low of $22.67 and a 1 year high of $59.88. The company has a market capitalization of $9.28 billion, a PE ratio of 83.63 and a beta of 1.53.

Cognex (NASDAQ:CGNX) last posted its earnings results on Wednesday, February 11th. The scientific and technical instruments company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $252.34 million during the quarter, compared to the consensus estimate of $238.92 million. Cognex had a return on equity of 9.02% and a net margin of 11.51%.The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. Equities analysts anticipate that Cognex Corporation will post 0.61 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Thursday, February 26th. This represents a $0.34 dividend on an annualized basis and a yield of 0.6%. Cognex’s payout ratio is currently 50.75%.

Insider Buying and Selling

In other news, Director Robert Willett sold 177,052 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $58.39, for a total transaction of $10,338,066.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Laura Ann Macdonald sold 14,881 shares of Cognex stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $57.16, for a total transaction of $850,597.96. Following the completion of the sale, the vice president owned 2,212 shares of the company’s stock, valued at approximately $126,437.92. The trade was a 87.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

CGNX has been the subject of a number of research analyst reports. TD Cowen reiterated a “buy” rating on shares of Cognex in a report on Tuesday, February 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $63.00 price objective on shares of Cognex in a research report on Friday, February 13th. Robert W. Baird set a $55.00 target price on Cognex in a report on Tuesday, February 17th. Needham & Company LLC increased their price target on Cognex from $47.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cognex from $50.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.21.

Cognex News Summary

Here are the key news stories impacting Cognex this week:

• Positive Sentiment: Q1 earnings beat and revenue beat reinforced momentum; investors are reacting to accelerating sales and profit improvements. Read More.
• Positive Sentiment: Analysts are raising earnings estimates, which typically supports higher share prices as future EPS expectations improve. Read More.
• Positive Sentiment: Sell-side and independent outlets are upbeat: a Goldman Sachs analyst is forecasting further upside, and Zacks upgraded CGNX to a “strong-buy,” adding institutional credibility. Read More. | Read More.
• Positive Sentiment: Coverage in robotics/AI roundup pieces highlights Cognex as an overlooked beneficiary of automation tailwinds, which can attract momentum traders. Read More.
• Neutral Sentiment: Management presentations at industry conferences increase investor access to guidance and strategy but do not by themselves change fundamentals. Read More. | Read More.
• Neutral Sentiment: Market commentary is mixed on valuation/timing — several articles ask whether buying after a ~70% rally is sensible, prompting caution among new buyers. Read More.
• Neutral Sentiment: Reported short-interest data in the feed appears inconsistent/zeroed out and is not a reliable signal at present (no clear days-to-cover pressure).
• Negative Sentiment: Valuation and recent run-up increase downside risk: CGNX trades at a high P/E and near its 52-week high, which could prompt profit-taking if growth expectations slip or macro sentiment weakens.

Cognex Company Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.