7,800 Shares in Cognex Corporation (NASDAQ:CGNX) Bought by Phoenix Financial Ltd.

Phoenix Financial Ltd. bought a new position in shares of Cognex Corporation (NASDAQ:CGNX) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,800 shares of the scientific and technical instruments company’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Caliber Wealth Management LLC KS bought a new position in Cognex during the first quarter worth $394,000. Cetera Investment Advisers boosted its stake in Cognex by 36.3% during the first quarter. Cetera Investment Advisers now owns 12,288 shares of the scientific and technical instruments company’s stock worth $367,000 after acquiring an additional 3,270 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Cognex during the first quarter worth $2,462,000. Y Intercept Hong Kong Ltd bought a new position in Cognex during the first quarter worth $1,068,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Cognex by 52.8% in the first quarter. Allianz Asset Management GmbH now owns 148,636 shares of the scientific and technical instruments company’s stock valued at $4,434,000 after buying an additional 51,366 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

Cognex Price Performance

CGNX opened at $34.08 on Friday. The company’s 50-day moving average is $31.59 and its 200 day moving average is $31.84. Cognex Corporation has a fifty-two week low of $22.67 and a fifty-two week high of $50.78. The firm has a market capitalization of $5.72 billion, a P/E ratio of 50.12 and a beta of 1.47.

Cognex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, May 15th. Cognex’s payout ratio is currently 47.06%.

Analyst Upgrades and Downgrades

CGNX has been the topic of a number of recent research reports. Melius raised shares of Cognex from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Thursday, July 10th. The Goldman Sachs Group raised their price objective on shares of Cognex from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Thursday, June 12th. DA Davidson reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Cognex in a research note on Monday, June 16th. Cowen raised shares of Cognex from a “hold” rating to a “buy” rating in a research note on Monday, April 28th. Finally, Truist Financial dropped their price objective on shares of Cognex from $37.00 to $29.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $40.25.

Cognex Profile

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.