Profund Advisors LLC lifted its stake in Cognex Co. (NASDAQ:CGNX) by 115.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,776 shares of the scientific and technical instruments company’s stock after buying an additional 11,676 shares during the period. Profund Advisors LLC’s holdings in Cognex were worth $1,332,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC purchased a new stake in shares of Cognex in the third quarter worth about $214,000. Coldstream Capital Management Inc. purchased a new stake in shares of Cognex in the third quarter worth about $203,000. Parallel Advisors LLC boosted its position in shares of Cognex by 100.1% in the fourth quarter. Parallel Advisors LLC now owns 1,883 shares of the scientific and technical instruments company’s stock worth $115,000 after buying an additional 942 shares during the period. Wealthsource Partners LLC purchased a new stake in shares of Cognex in the third quarter worth about $212,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Cognex in the fourth quarter worth about $126,000. 81.97% of the stock is owned by institutional investors.
Cognex Co. (CGNX) opened at $56.31 on Tuesday. Cognex Co. has a one year low of $38.67 and a one year high of $72.99. The company has a market capitalization of $9,734.48, a PE ratio of 57.46 and a beta of 1.54.
Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The business had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $178.75 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s revenue was up 39.5% compared to the same quarter last year. research analysts expect that Cognex Co. will post 1.4 earnings per share for the current fiscal year.
Cognex declared that its board has approved a stock buyback program on Thursday, February 15th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be paid a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Thursday, March 1st. Cognex’s dividend payout ratio (DPR) is 18.37%.
CGNX has been the subject of several analyst reports. Deutsche Bank set a $80.00 target price on Cognex and gave the stock a “buy” rating in a research report on Friday, January 19th. BidaskClub raised Cognex from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research raised Cognex from a “sell” rating to a “hold” rating in a research report on Tuesday, February 13th. Finally, ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Cognex currently has an average rating of “Hold” and an average price target of $66.83.
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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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