Cognex Co. (NASDAQ:CGNX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Cognex Co. (NASDAQ:CGNX) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $47.92.

CGNX has been the topic of several research reports. Needham & Company LLC reduced their price target on shares of Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Citigroup dropped their price objective on shares of Cognex from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Cantor Fitzgerald upgraded Cognex to a “strong-buy” rating in a report on Friday, December 20th. Stephens reaffirmed an “overweight” rating and set a $55.00 price target on shares of Cognex in a report on Thursday, January 2nd. Finally, Truist Financial boosted their price objective on shares of Cognex from $42.00 to $43.00 and gave the company a “hold” rating in a report on Thursday, January 16th.

Insider Activity at Cognex

In related news, CTO Joerg Kuechen sold 2,934 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $37.75, for a total value of $110,758.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $40.03, for a total value of $1,040,780.00. Following the completion of the sale, the director now directly owns 26,608 shares of the company’s stock, valued at $1,065,118.24. The trade was a 49.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Riverview Trust Co purchased a new stake in shares of Cognex in the third quarter valued at approximately $25,000. Advisors Asset Management Inc. lifted its holdings in shares of Cognex by 123.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 394 shares during the period. Truvestments Capital LLC purchased a new position in shares of Cognex during the third quarter valued at $36,000. Clean Yield Group raised its holdings in shares of Cognex by 1,686.7% in the fourth quarter. Clean Yield Group now owns 1,072 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 1,012 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake in Cognex by 50.2% in the fourth quarter. Principal Securities Inc. now owns 1,047 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 350 shares during the period. 88.12% of the stock is currently owned by institutional investors.

Cognex Trading Up 0.5 %

Shares of NASDAQ:CGNX opened at $39.90 on Monday. The firm has a market capitalization of $6.84 billion, a PE ratio of 76.73 and a beta of 1.40. The business’s 50 day moving average is $38.14 and its 200-day moving average is $39.76. Cognex has a 1-year low of $34.79 and a 1-year high of $53.13.

Cognex Company 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.