Los Angeles Capital Management & Equity Research Inc. Invests $630,000 in Cognex Corporation (CGNX) Stock
Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Cognex Corporation (NASDAQ:CGNX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,420 shares of the scientific and technical instruments company’s stock, valued at approximately $630,000.
Other large investors have also made changes to their positions in the company. FMR LLC grew its stake in Cognex Corporation by 6.1% in the 1st quarter. FMR LLC now owns 885,949 shares of the scientific and technical instruments company’s stock valued at $74,375,000 after purchasing an additional 51,144 shares during the period. BlackRock Inc. grew its stake in Cognex Corporation by 16,264.7% in the 1st quarter. BlackRock Inc. now owns 6,656,024 shares of the scientific and technical instruments company’s stock valued at $558,773,000 after purchasing an additional 6,615,351 shares during the period. Airain ltd bought a new position in Cognex Corporation in the 2nd quarter valued at $1,074,000. Handelsinvest Investeringsforvaltning grew its stake in Cognex Corporation by 22.9% in the 2nd quarter. Handelsinvest Investeringsforvaltning now owns 93,400 shares of the scientific and technical instruments company’s stock valued at $7,930,000 after purchasing an additional 17,400 shares during the period. Finally, Fifth Third Bancorp grew its stake in Cognex Corporation by 69.9% in the 1st quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock valued at $133,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 87.25% of the company’s stock.
Cognex Corporation (NASDAQ CGNX) opened at 113.43 on Friday. The stock’s 50 day moving average price is $105.58 and its 200 day moving average price is $92.16. Cognex Corporation has a 1-year low of $49.68 and a 1-year high of $115.35. The company has a market cap of $9.82 billion, a P/E ratio of 51.82 and a beta of 1.40.
Cognex Corporation (NASDAQ:CGNX) last issued its quarterly earnings data on Monday, July 31st. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. Cognex Corporation had a return on equity of 19.51% and a net margin of 33.10%. The company had revenue of $172.90 million during the quarter, compared to analyst estimates of $169.79 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. Cognex Corporation’s revenue was up 17.4% compared to the same quarter last year. On average, equities analysts anticipate that Cognex Corporation will post $2.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Wednesday, August 16th. Cognex Corporation’s payout ratio is currently 15.60%.
A number of research analysts have issued reports on the company. Cowen and Company restated an “outperform” rating and issued a $135.00 price objective (up previously from $100.00) on shares of Cognex Corporation in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Cognex Corporation from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research note on Wednesday, August 2nd. Wolfe Research upgraded Cognex Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Finally, BidaskClub upgraded Cognex Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $82.75.
In related news, Director Jerry A. Schneider sold 5,000 shares of Cognex Corporation stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $102.67, for a total value of $513,350.00. Following the completion of the sale, the director now owns 6,000 shares of the company’s stock, valued at $616,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Willett sold 25,000 shares of Cognex Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $103.37, for a total value of $2,584,250.00. Following the completion of the sale, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at approximately $2,584,250. The disclosure for this sale can be found here. Insiders sold 126,750 shares of company stock valued at $13,242,726 in the last ninety days. 5.60% of the stock is currently owned by corporate insiders.
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About Cognex Corporation
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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