Cognex (NASDAQ:CGNX) Cut to Hold at Zacks Research

by · The Markets Daily

Zacks Research lowered shares of Cognex (NASDAQ:CGNX – Free Report) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks reports.

CGNX has been the topic of several other research reports. Barclays reissued an “overweight” rating and issued a $80.00 price objective (up from $75.00) on shares of Cognex in a research report on Monday, August 10th. The Goldman Sachs Group reiterated a “buy” rating and set a $91.00 target price on shares of Cognex in a research note on Friday, August 7th. Cantor Fitzgerald boosted their price target on shares of Cognex from $76.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen downgraded shares of Cognex from a “buy” rating to a “hold” rating in a report on Sunday, September 13th. Finally, HSBC lowered shares of Cognex from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.21.

View Our Latest Analysis on Cognex

Cognex Stock Down 0.5%

Cognex stock opened at $60.91 on Tuesday. Cognex has a 52 week low of $34.60 and a 52 week high of $72.88. The company’s 50 day moving average price is $62.23 and its two-hundred day moving average price is $61.28. The stock has a market cap of $10.25 billion, a P/E ratio of 59.14 and a beta of 1.48.

Cognex (NASDAQ:CGNX – Get Free Report) last announced its earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The firm had revenue of $291.26 million for the quarter, compared to the consensus estimate of $292.10 million. Cognex had a return on equity of 13.50% and a net margin of 16.05%.The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS. Cognex has set its FY 2026 guidance at 1.640-1.680 EPS and its Q3 2026 guidance at 0.500-0.540 EPS. On average, equities analysts anticipate that Cognex will post 1.68 EPS for the current year.

Cognex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were issued a dividend of $0.0850 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.34 annualized dividend and a yield of 0.6%. Cognex’s dividend payout ratio is 33.01%.

Hedge Funds Weigh In On Cognex

Several large investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Cognex during the 2nd quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new stake in shares of Cognex during the second quarter worth $32,000. Transamerica Financial Advisors LLC bought a new position in shares of Cognex in the second quarter worth $32,000. Elevation Wealth Partners LLC boosted its holdings in shares of Cognex by 635.4% in the second quarter. Elevation Wealth Partners LLC now owns 478 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 413 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Cognex in the first quarter valued at $36,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cognex Company Profile

(Get Free Report)

Cognex Corporation (NASDAQ: CGNX) develops machine vision products and technologies that help businesses automate manufacturing, logistics and other industrial processes. Its systems enable machines to inspect, identify, measure and guide products, components and materials with limited human intervention.

The company’s product portfolio includes industrial vision cameras, vision sensors, image-based barcode readers, three-dimensional vision systems and software for image processing and analysis.

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