Front Street Capital Management Inc. Invests $90.58 Million in Cognex Corporation $CGNX

Front Street Capital Management Inc. bought a new position in Cognex Corporation (NASDAQ:CGNX) in the second quarter, HoldingsChannel reports. The fund bought 1,255,029 shares of the scientific and technical instruments company’s stock, valued at approximately $90,581,000. Cognex makes up about 10.3% of Front Street Capital Management Inc.’s portfolio, making the stock its 2nd largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Cognex in the second quarter valued at about $1,158,123,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Cognex by 173,138.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 10,477,448 shares of the scientific and technical instruments company’s stock valued at $376,979,000 after purchasing an additional 10,471,400 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Cognex by 27.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,013,184 shares of the scientific and technical instruments company’s stock worth $252,360,000 after purchasing an additional 1,529,010 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Cognex by 31.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,314,896 shares of the scientific and technical instruments company’s stock valued at $191,231,000 after purchasing an additional 1,258,629 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its stake in shares of Cognex by 0.9% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,768,716 shares of the scientific and technical instruments company’s stock valued at $151,264,000 after buying an additional 40,927 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CGNX has been the subject of a number of analyst reports. Wall Street Zen lowered Cognex from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Barclays reissued an “overweight” rating and set a $80.00 price target (up from $75.00) on shares of Cognex in a report on Monday, August 10th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $91.00 price objective on shares of Cognex in a research note on Friday, August 7th. Needham & Company LLC lifted their target price on Cognex from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, DA Davidson set a $65.00 price target on Cognex and gave the stock a “neutral” rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.64.

Insider Activity

In other Cognex news, VP Darren Marc Long sold 20,252 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $66.34, for a total transaction of $1,343,517.68. Following the completion of the transaction, the vice president owned 3,990 shares in the company, valued at $264,696.60. The trade was a 83.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by company insiders.

Cognex Price Performance

Shares of NASDAQ CGNX opened at $58.54 on Tuesday. The stock has a market capitalization of $9.85 billion, a P/E ratio of 56.84 and a beta of 1.49. The business’s 50 day moving average is $64.78 and its two-hundred day moving average is $59.01. Cognex Corporation has a 1-year low of $34.60 and a 1-year high of $72.88.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $291.26 million during the quarter, compared to the consensus estimate of $292.10 million. Cognex had a return on equity of 13.50% and a net margin of 16.05%.Cognex’s revenue was up 16.9% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. Cognex has set its FY 2026 guidance at 1.640-1.680 EPS and its Q3 2026 guidance at 0.500-0.540 EPS. As a group, equities research analysts anticipate that Cognex Corporation will post 1.68 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.34 annualized dividend and a yield of 0.6%. Cognex’s dividend payout ratio (DPR) is presently 33.01%.

Cognex Company Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.