Cognex (NASDAQ:CGNX – Get Free Report) is set to announce its earnings results before the market opens on Thursday, February 15th. Analysts expect the company to announce earnings of $0.11 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.
Cognex Stock Performance
CGNX opened at $36.87 on Tuesday. The company’s 50 day simple moving average is $38.90 and its 200 day simple moving average is $41.02. Cognex has a 1 year low of $34.28 and a 1 year high of $59.51. The stock has a market capitalization of $6.35 billion, a PE ratio of 40.52 and a beta of 1.49.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on CGNX shares. Stephens decreased their target price on shares of Cognex from $55.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Needham & Company LLC decreased their target price on shares of Cognex from $55.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. Finally, Raymond James decreased their target price on shares of Cognex from $65.00 to $60.00 and set a “strong-buy” rating on the stock in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cognex currently has an average rating of “Hold” and a consensus target price of $48.50.
Institutional Trading of Cognex
A number of hedge funds have recently made changes to their positions in the company. Stifel Financial Corp raised its stake in shares of Cognex by 2.1% during the fourth quarter. Stifel Financial Corp now owns 26,144 shares of the scientific and technical instruments company’s stock valued at $1,091,000 after purchasing an additional 535 shares during the period. Townsquare Capital LLC purchased a new stake in shares of Cognex during the third quarter valued at approximately $205,000. The Manufacturers Life Insurance Company raised its stake in shares of Cognex by 14.8% during the third quarter. The Manufacturers Life Insurance Company now owns 151,550 shares of the scientific and technical instruments company’s stock valued at $6,432,000 after purchasing an additional 19,518 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Cognex by 10.6% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 29,684 shares of the scientific and technical instruments company’s stock valued at $1,663,000 after purchasing an additional 2,856 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Cognex by 5.1% during the second quarter. Wells Fargo & Company MN now owns 200,720 shares of the scientific and technical instruments company’s stock valued at $11,244,000 after purchasing an additional 9,802 shares during the period. Hedge funds and other institutional investors own 89.86% of the company’s stock.
Cognex Corporation provides machine vision products that capture and analyze visual information 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, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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