Stephens Reaffirms “Overweight” Rating for Cognex (NASDAQ:CGNX)

Cognex (NASDAQ:CGNX)‘s stock had its “overweight” rating reaffirmed by research analysts at Stephens in a research report issued on Thursday,Benzinga reports. They presently have a $55.00 price target on the scientific and technical instruments company’s stock. Stephens’ price objective indicates a potential upside of 51.72% from the company’s previous close.

Several other equities research analysts have also issued reports on CGNX. Truist Financial lowered their target price on shares of Cognex from $43.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Needham & Company LLC decreased their price objective on shares of Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Cantor Fitzgerald raised Cognex to a “strong-buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Cognex Stock Up 1.5 %

Shares of CGNX opened at $36.25 on Thursday. The business has a fifty day moving average of $38.83 and a 200 day moving average of $41.16. The company has a market cap of $6.22 billion, a PE ratio of 69.71 and a beta of 1.39. Cognex has a 52-week low of $34.79 and a 52-week high of $53.13.

Insider Transactions at Cognex

In other news, CTO Joerg Kuechen sold 2,934 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $37.75, for a total transaction of $110,758.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anthony Sun sold 26,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the completion of the transaction, the director now directly owns 26,608 shares of the company’s stock, valued at $1,065,118.24. This trade represents a 49.42 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Cognex

A number of institutional investors have recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC raised its position in Cognex by 19.8% during the second quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company’s stock valued at $85,000 after acquiring an additional 301 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Cognex by 9.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,055 shares of the scientific and technical instruments company’s stock worth $164,000 after purchasing an additional 349 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Cognex by 123.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 394 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Cognex by 20.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,732 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 457 shares during the period. Finally, Fiduciary Trust Co lifted its stake in shares of Cognex by 9.6% in the 3rd quarter. Fiduciary Trust Co now owns 5,443 shares of the scientific and technical instruments company’s stock valued at $220,000 after purchasing an additional 475 shares during the period. Institutional investors own 88.12% of the company’s stock.

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.