Robinhood Asset Management LLC Buys Shares of 227,296 Cognex Corporation $CGNX

Robinhood Asset Management LLC bought a new position in shares of Cognex Corporation (NASDAQ:CGNX) in the 2nd quarter, HoldingsChannel reports. The fund bought 227,296 shares of the scientific and technical instruments company’s stock, valued at approximately $16,461,000. Cognex makes up 0.9% of Robinhood Asset Management LLC’s portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors have also made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Cognex in the 2nd quarter valued at approximately $26,000. Elevation Wealth Partners LLC boosted its position in shares of Cognex by 635.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 478 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 413 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Cognex during the 2nd quarter worth approximately $45,000. Cassaday & Co Wealth Management LLC acquired a new stake in Cognex in the 1st quarter valued at approximately $36,000. Finally, CIBC Private Wealth Group LLC increased its holdings in Cognex by 74.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 764 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 327 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cognex news, VP Darren Marc Long sold 20,252 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $66.34, for a total transaction of $1,343,517.68. Following the sale, the vice president owned 3,990 shares in the company, valued at $264,696.60. This represents a 83.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CGNX has been the topic of a number of research reports. Barclays restated an “overweight” rating and set a $80.00 price target (up from $75.00) on shares of Cognex in a research note on Monday, August 10th. Weiss Ratings raised Cognex from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Needham & Company LLC boosted their price objective on Cognex from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 7th. Zacks Research raised Cognex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 16th. Finally, JPMorgan Chase & Co. upgraded Cognex from a “neutral” rating to an “overweight” rating and raised their target price for the company from $65.00 to $75.00 in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.64.

Cognex Stock Up 1.4%

Cognex stock opened at $60.54 on Friday. Cognex Corporation has a 52-week low of $34.60 and a 52-week high of $72.88. The firm has a market cap of $10.18 billion, a PE ratio of 58.78 and a beta of 1.49. The company’s 50 day moving average is $64.92 and its two-hundred day moving average is $58.76.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. Cognex had a net margin of 16.05% and a return on equity of 13.50%. The business had revenue of $291.26 million during the quarter, compared to the consensus estimate of $292.10 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. Cognex has set its FY 2026 guidance at 1.640-1.680 EPS and its Q3 2026 guidance at 0.500-0.540 EPS. On average, equities research analysts anticipate that Cognex Corporation will post 1.68 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 20th. Cognex’s payout ratio is presently 33.01%.

Cognex 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.