Cognex Co. (NASDAQ:CGNX) Shares Bought by abrdn plc

abrdn plc increased its stake in shares of Cognex Co. (NASDAQ:CGNXGet Rating) by 11.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 16,583 shares of the scientific and technical instruments company’s stock after buying an additional 1,699 shares during the quarter. abrdn plc’s holdings in Cognex were worth $704,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CGNX. CWM LLC raised its position in shares of Cognex by 19.9% during the 1st quarter. CWM LLC now owns 2,016 shares of the scientific and technical instruments company’s stock worth $156,000 after purchasing an additional 335 shares during the last quarter. Truist Financial Corp raised its position in shares of Cognex by 1.1% during the 1st quarter. Truist Financial Corp now owns 79,541 shares of the scientific and technical instruments company’s stock worth $6,136,000 after purchasing an additional 859 shares during the last quarter. Ieq Capital LLC acquired a new position in shares of Cognex during the 1st quarter worth approximately $411,000. Robeco Institutional Asset Management B.V. raised its position in shares of Cognex by 27.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 22,455 shares of the scientific and technical instruments company’s stock worth $1,733,000 after purchasing an additional 4,783 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Cognex by 3.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 7,351 shares of the scientific and technical instruments company’s stock worth $567,000 after purchasing an additional 248 shares during the last quarter. 90.15% of the stock is currently owned by institutional investors and hedge funds.

Cognex Stock Down 2.0 %

Shares of NASDAQ CGNX opened at $45.94 on Thursday. Cognex Co. has a 52-week low of $40.21 and a 52-week high of $84.00. The firm has a fifty day moving average of $43.71 and a 200-day moving average of $46.80. The stock has a market capitalization of $7.94 billion, a PE ratio of 37.97 and a beta of 1.59.

Cognex Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.61%. This is a boost from Cognex’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, November 17th. Cognex’s dividend payout ratio is 21.49%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CGNX. Cowen cut their price target on Cognex from $75.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 3rd. Stephens downgraded Cognex from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $80.00 to $45.00 in a report on Wednesday, August 3rd. Needham & Company LLC boosted their price target on Cognex from $52.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 4th. Cowen cut their price target on Cognex from $75.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 3rd. Finally, Sanford C. Bernstein upgraded Cognex from a “market perform” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $53.75.

About Cognex

(Get Rating)

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

Further Reading

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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