LA Financiere DE L Echiquier Has $11.09 Million Stock Position in Cognex Co. (NASDAQ:CGNX)

Posted by admin on Jul 28th, 2022

LA Financiere DE L Echiquier grew its stake in Cognex Co. (NASDAQ:CGNX – Get Rating) by 55.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,704 shares of the scientific and technical instruments company’s stock after purchasing an additional 51,452 shares during the quarter. LA Financiere DE L Echiquier owned approximately 0.08% of Cognex worth $11,087,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. UMB Bank N A MO purchased a new stake in shares of Cognex during the fourth quarter valued at approximately $31,000. Sageworth Trust Co of South Dakota purchased a new stake in shares of Cognex during the fourth quarter valued at approximately $36,000. Ceredex Value Advisors LLC purchased a new stake in shares of Cognex during the fourth quarter valued at approximately $43,000. FourThought Financial LLC increased its position in shares of Cognex by 50.0% during the first quarter. FourThought Financial LLC now owns 585 shares of the scientific and technical instruments company’s stock valued at $45,000 after acquiring an additional 195 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of Cognex during the fourth quarter valued at approximately $54,000. Institutional investors own 88.85% of the company’s stock.

Cognex Trading Up 1.8 %

Shares of NASDAQ CGNX traded up $0.87 during mid-day trading on Thursday, hitting $49.97. The company had a trading volume of 7,892 shares, compared to its average volume of 885,233. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 31.68 and a beta of 1.63. Cognex Co. has a 1 year low of $41.69 and a 1 year high of $92.17. The stock’s 50-day moving average price is $45.75 and its 200-day moving average price is $59.66.

Cognex (NASDAQ:CGNX – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.08. The company had revenue of $282.40 million during the quarter, compared to analyst estimates of $277.23 million. Cognex had a return on equity of 19.48% and a net margin of 25.67%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. As a group, equities research analysts forecast that Cognex Co. will post 1.52 earnings per share for the current year.

Cognex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 3rd. Investors of record on Friday, May 20th were paid a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, May 19th. Cognex’s dividend payout ratio is 16.77%.

Insider Activity at Cognex

In other Cognex news, Director Dianne M. Parrotte acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The stock was bought at an average price of $46.00 per share, with a total value of $138,000.00. Following the completion of the purchase, the director now owns 3,608 shares of the company’s stock, valued at $165,968. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CGNX has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target on Cognex from $68.00 to $52.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 31st. UBS Group decreased their target price on Cognex from $80.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, May 26th. Raymond James decreased their target price on Cognex from $90.00 to $80.00 in a research report on Thursday, June 9th. The Goldman Sachs Group decreased their target price on Cognex from $59.00 to $41.00 and set a “sell” rating for the company in a research report on Thursday, June 23rd. Finally, StockNews.com initiated coverage on Cognex in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $71.18.

Cognex Company Profile

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Cognex Corporation provides machine vision products that capture and analyze visual information in order 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, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.