Cognex Co. (NASDAQ:CGNX) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 12,052,728 shares, an increase of 14.5% from the February 15th total of 10,530,717 shares. Based on an average daily trading volume, of 1,319,945 shares, the short-interest ratio is presently 9.1 days. Approximately 7.4% of the company’s stock are sold short.
In other news, Director Theodor Krantz sold 30,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total value of $1,595,400.00. Following the completion of the sale, the director now owns 52,500 shares of the company’s stock, valued at $2,791,950. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CGNX. Ruggie Capital Group acquired a new stake in shares of Cognex in the fourth quarter valued at about $27,000. Executive Wealth Management LLC acquired a new stake in shares of Cognex in the fourth quarter valued at about $27,000. Berman Capital Advisors LLC acquired a new stake in shares of Cognex in the fourth quarter valued at about $29,000. CWM LLC grew its position in shares of Cognex by 1,952.6% in the fourth quarter. CWM LLC now owns 780 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 742 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Cognex by 223.0% in the fourth quarter. Advisory Services Network LLC now owns 772 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 533 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.
Several analysts recently issued reports on CGNX shares. Zacks Investment Research lowered Cognex from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Berenberg Bank started coverage on Cognex in a report on Monday, November 19th. They set a “buy” rating and a $54.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $47.00 price objective (up from $45.00) on shares of Cognex in a report on Thursday, December 13th. Finally, BidaskClub upgraded Cognex from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Cognex has a consensus rating of “Hold” and an average price target of $49.28.
NASDAQ CGNX opened at $53.02 on Friday. Cognex has a fifty-two week low of $34.88 and a fifty-two week high of $59.18. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of 42.76, a P/E/G ratio of 2.79 and a beta of 2.01.
Cognex (NASDAQ:CGNX) last posted its earnings results on Thursday, February 14th. The scientific and technical instruments company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.04. Cognex had a return on equity of 19.75% and a net margin of 27.19%. The company had revenue of $193.29 million for the quarter, compared to analyst estimates of $184.82 million. During the same period last year, the company earned ($0.16) earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Cognex will post 1.26 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.20 annualized dividend and a yield of 0.38%. Cognex’s dividend payout ratio (DPR) is currently 16.13%.
Cognex Company Profile
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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