State Street Corp boosted its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,169,073 shares of the scientific and technical instruments company’s stock after purchasing an additional 45,840 shares during the period. State Street Corp owned about 2.51% of Cognex Corporation worth $184,153,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. lifted its position in Cognex Corporation by 3.5% during the second quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock valued at $584,711,000 after purchasing an additional 231,014 shares during the period. Vanguard Group Inc. raised 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 acquiring an additional 159,355 shares during the period. Ameriprise Financial Inc. raised 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 acquiring an additional 1,309,047 shares during the period. Bank of New York Mellon Corp raised its position in Cognex Corporation by 21.3% in the second quarter. Bank of New York Mellon Corp now owns 1,261,312 shares of the scientific and technical instruments company’s stock worth $107,085,000 after acquiring an additional 221,545 shares during the period. Finally, Coatue Management LLC bought a new position in Cognex Corporation in the second quarter worth approximately $87,064,000. Institutional investors own 86.67% of the company’s stock.
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Shares of Cognex Corporation (NASDAQ CGNX) traded up 1.66% during mid-day trading on Friday, hitting $125.40. 739,951 shares of the stock were exchanged. The company has a market cap of $10.86 billion, a P/E ratio of 57.29 and a beta of 1.42. The stock’s 50-day moving average price is $114.82 and its 200-day moving average price is $98.64. Cognex Corporation has a 52-week low of $49.68 and a 52-week high of $125.59.
Cognex Corporation (NASDAQ:CGNX) last posted its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The firm had revenue of $172.90 million during the quarter, compared to analysts’ expectations of $169.79 million. During the same period in the previous year, the business posted $0.50 EPS. The business’s revenue was up 17.4% compared to the same quarter last year. Equities research analysts anticipate that Cognex Corporation will post $2.56 earnings per share for the current fiscal year.
In related news, Director Patrick Alias sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $111.31, for a total value of $556,550.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $556,550. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce Robinson J sold 7,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $106.50, for a total transaction of $745,500.00. Following the completion of the sale, the director now directly owns 5,625 shares of the company’s stock, valued at approximately $599,062.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 126,750 shares of company stock valued at $13,242,726. Company insiders own 5.60% of the company’s stock.
Several research analysts have weighed in on CGNX shares. Cowen and Company reiterated a “buy” rating and issued a $100.00 price target on shares of Cognex Corporation in a research report on Tuesday, July 11th. BidaskClub downgraded shares of Cognex Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Wolfe Research upgraded shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, August 14th. Finally, Zacks Investment Research downgraded shares of Cognex Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $87.43.
Cognex Corporation 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 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.
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