State of Wisconsin Investment Board cut its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 17.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,508 shares of the scientific and technical instruments company’s stock after selling 55,607 shares during the period. State of Wisconsin Investment Board owned 0.15% of Cognex worth $13,856,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in CGNX. Glenmede Trust Co. NA grew its position in shares of Cognex by 100.0% during the fourth quarter. Glenmede Trust Co. NA now owns 1,830 shares of the scientific and technical instruments company’s stock worth $111,000 after acquiring an additional 915 shares during the last quarter. Parallel Advisors LLC grew its position in Cognex by 100.1% in the 4th quarter. Parallel Advisors LLC now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $115,000 after buying an additional 942 shares during the last quarter. YorkBridge Wealth Partners LLC grew its position in Cognex by 76.9% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $125,000 after buying an additional 963 shares during the last quarter. Cerebellum GP LLC purchased a new position in Cognex in the 4th quarter valued at $126,000. Finally, Strs Ohio purchased a new position in Cognex in the 4th quarter valued at $133,000. Institutional investors and hedge funds own 82.11% of the company’s stock.
In other Cognex news, Director Anthony Sun sold 10,000 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $56.49, for a total value of $564,900.00. Following the completion of the sale, the director now owns 294,262 shares of the company’s stock, valued at $16,622,860.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.40% of the stock is currently owned by company insiders.
Cognex opened at $45.45 on Friday, Marketbeat Ratings reports. Cognex Co. has a 1-year low of $39.90 and a 1-year high of $72.99. The firm has a market capitalization of $7.86 billion, a P/E ratio of 32.58 and a beta of 1.61.
Cognex (NASDAQ:CGNX) last released its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. Cognex had a return on equity of 23.08% and a net margin of 21.56%. The company had revenue of $180.37 million during the quarter, compared to the consensus estimate of $178.75 million. During the same quarter last year, the company earned $0.20 earnings per share. Cognex’s quarterly revenue was up 39.5% compared to the same quarter last year. equities analysts anticipate that Cognex Co. will post 1.15 earnings per share for the current year.
Cognex announced that its board has approved a share repurchase plan on Thursday, February 15th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Thursday, May 17th. Cognex’s dividend payout ratio (DPR) is currently 12.41%.
A number of equities analysts recently weighed in on the stock. JPMorgan Chase lowered shares of Cognex from a “neutral” rating to an “underweight” rating and set a $42.00 price objective on the stock. in a research report on Monday, May 7th. Zacks Investment Research lowered shares of Cognex from a “buy” rating to a “sell” rating in a research report on Wednesday, May 2nd. Raymond James upgraded shares of Cognex from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 1st. Robert W. Baird lowered their price objective on shares of Cognex from $62.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 1st. Finally, BidaskClub lowered shares of Cognex from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 26th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $57.21.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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