Neuberger Berman Group LLC Sells 109,179 Shares of Cognex Co. (NASDAQ:CGNX)

Neuberger Berman Group LLC reduced its holdings in shares of Cognex Co. (NASDAQ:CGNXFree Report) by 79.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,995 shares of the scientific and technical instruments company’s stock after selling 109,179 shares during the quarter. Neuberger Berman Group LLC’s holdings in Cognex were worth $1,210,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new position in shares of Cognex during the 3rd quarter worth approximately $30,000. Itau Unibanco Holding S.A. grew its stake in shares of Cognex by 71.1% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 804 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 334 shares in the last quarter. Janiczek Wealth Management LLC grew its stake in shares of Cognex by 71.8% during the 4th quarter. Janiczek Wealth Management LLC now owns 1,295 shares of the scientific and technical instruments company’s stock worth $54,000 after acquiring an additional 541 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Cognex during the 4th quarter worth approximately $56,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Cognex by 19.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,199 shares of the scientific and technical instruments company’s stock worth $92,000 after acquiring an additional 355 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

Cognex Stock Performance

CGNX opened at $43.80 on Tuesday. Cognex Co. has a fifty-two week low of $34.28 and a fifty-two week high of $59.51. The company has a market capitalization of $7.52 billion, a P/E ratio of 75.52 and a beta of 1.45. The stock has a fifty day moving average of $43.48 and a 200-day moving average of $40.75.

Cognex (NASDAQ:CGNXGet Free Report) last posted its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 earnings per share for the quarter. Cognex had a return on equity of 6.81% and a net margin of 11.76%. The company had revenue of $210.80 million during the quarter, compared to the consensus estimate of $198.14 million. On average, equities research analysts predict that Cognex Co. will post 0.45 earnings per share for the current fiscal year.

Cognex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Wednesday, May 15th. Cognex’s dividend payout ratio is currently 51.72%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CGNX. Sanford C. Bernstein increased their price objective on Cognex from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Citigroup increased their price objective on Cognex from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Needham & Company LLC increased their price objective on Cognex from $46.00 to $48.00 and gave the company a “buy” rating in a report on Friday, May 3rd. UBS Group raised Cognex from a “neutral” rating to a “buy” rating and increased their price objective for the company from $42.00 to $54.00 in a report on Tuesday, March 19th. Finally, HSBC raised Cognex from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cognex has an average rating of “Hold” and a consensus target price of $49.15.

View Our Latest Research Report on CGNX

About Cognex

(Free Report)

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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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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