Weekly Investment Analysts’ Ratings Changes for Cognex Corporation (CGNX)

Several brokerages have updated their recommendations and price targets on shares of Cognex Corporation (NASDAQ: CGNX) in the last few weeks:

  • 11/8/2017 – Cognex Corporation was downgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating. They now have a $125.00 price target on the stock.
  • 11/1/2017 – Cognex Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $138.00 price target on the stock. According to Zacks, “Cognex Corporation designs, develops, manufactures, and markets machine vision systems, or computers that can see. Cognex is the world’s leader in the machine vision industry, having shipped more than 200,000 vision systems, representing nearly $1.5 billion in cumulative revenue, since the company’s founding time. Cognex’s Modular Vision Systems Division, headquartered in Natick, Massachusetts, specializes in machine vision systems that are used for automating the manufacture of a wide range of discrete items and for assuring their quality. Cognex’s Surface Inspection Systems Division, headquartered in Alameda, California, specializes in machine vision systems that are used for inspecting the surfaces of products manufactured in a continuous fashion, such as metals, papers and plastics. “
  • 10/31/2017 – Cognex Corporation had its price target raised by analysts at Robert W. Baird from $100.00 to $124.00. They now have a “neutral” rating on the stock.
  • 10/31/2017 – Cognex Corporation had its price target raised by analysts at Canaccord Genuity from $95.00 to $120.00. They now have a “hold” rating on the stock.
  • 10/3/2017 – Cognex Corporation was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “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. The Company’s products include vision software, vision systems, vision sensors and identification (ID) products. Its products range from vision sensors that are integrated, to personal computer (PC)-based systems for users. Its products also have a range of physical forms, depending upon the user’s need. Cognex sells its products through a direct sales force, as well as through a global network of integration and distribution partners. “

Cognex Corporation (NASDAQ:CGNX) opened at $137.57 on Thursday. Cognex Corporation has a 52-week low of $57.42 and a 52-week high of $140.94. The stock has a market capitalization of $11,925.57, a P/E ratio of 50.82 and a beta of 1.48.

Shares of Cognex Corporation are set to split before the market opens on Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly minted shares will be distributed to shareholders after the market closes on Friday, December 1st.

Cognex Corporation (NASDAQ:CGNX) last announced its earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.09. Cognex Corporation had a return on equity of 23.31% and a net margin of 34.77%. The company had revenue of $259.74 million for the quarter, compared to analyst estimates of $255.95 million. During the same period in the prior year, the company posted $0.61 EPS. Cognex Corporation’s quarterly revenue was up 75.6% on a year-over-year basis. research analysts predict that Cognex Corporation will post 2.77 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.26%. This is a positive change from Cognex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 16th. Cognex Corporation’s dividend payout ratio is presently 12.55%.

In related news, Director Theodor Krantz sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $134.05, for a total transaction of $2,010,750.00. Following the sale, the director now directly owns 26,250 shares of the company’s stock, valued at approximately $3,518,812.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce Robinson J sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total value of $745,500.00. Following the sale, the director now directly owns 5,625 shares in the company, valued at $599,062.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,991 shares of company stock worth $19,974,890. Corporate insiders own 5.60% of the company’s stock.

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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