Somewhat Positive Media Coverage Likely to Affect Cognex (CGNX) Stock Price

News headlines about Cognex (NASDAQ:CGNX) have trended somewhat positive on Saturday, Alpha One reports. Alpha One, a subsidiary of Accern, ranks the sentiment of press coverage by analyzing more than twenty million news and blog sources in real time. Alpha One ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Cognex earned a news impact score of 0.08 on Alpha One’s scale. Alpha One also assigned news stories about the scientific and technical instruments company an impact score of 75 out of 100, indicating that recent press coverage is likely to have an effect on the company’s share price in the next several days.

Here are some of the news stories that may have impacted Alpha One’s analysis:

Several brokerages recently commented on CGNX. Goldman Sachs Group Inc began coverage on shares of Cognex in a report on Monday, April 3rd. They set a “buy” rating on the stock. Summit Redstone reiterated a “buy” rating on shares of Cognex in a report on Thursday, March 30th. Canaccord Genuity restated a “hold” rating and issued a $80.00 target price (up from $65.00) on shares of Cognex in a research note on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Cognex from a “sell” rating to a “buy” rating and set a $101.00 target price on the stock in a research note on Wednesday, May 3rd. Finally, Cowen and Company dropped their target price on shares of Cognex from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 2nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.51.

Shares of Cognex (NASDAQ:CGNX) opened at 90.90 on Friday. The company’s 50-day moving average is $86.12 and its 200-day moving average is $72.29. Cognex has a 52-week low of $38.71 and a 52-week high of $93.14. The stock has a market cap of $7.88 billion, a PE ratio of 44.23 and a beta of 1.33.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be given a dividend of $0.085 per share. The ex-dividend date is Wednesday, May 31st. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.37%. This is an increase from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio (DPR) is presently 20.13%.

In other news, CEO Robert Willett sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $77.75, for a total transaction of $3,887,500.00. Following the completion of the sale, the chief executive officer now owns 50,000 shares of the company’s stock, valued at $3,887,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick Alias sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $77.85, for a total transaction of $389,250.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $389,250. The disclosure for this sale can be found here. Insiders have sold 205,000 shares of company stock valued at $17,398,718 in the last three months. Corporate insiders own 6.40% of the company’s stock.

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About Cognex

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.

12 Month Chart for NASDAQ:CGNX

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