Brokerages Set Cognex Co. (NASDAQ:CGNX) Price Target at $47.92

Cognex Co. (NASDAQ:CGNX) has earned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $47.92.

A number of equities analysts recently commented on CGNX shares. Needham & Company LLC decreased their price target on Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Citigroup decreased their target price on Cognex from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Truist Financial upped their price target on Cognex from $42.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Stephens restated an “overweight” rating and set a $55.00 price objective on shares of Cognex in a research note on Thursday, January 2nd. Finally, Cantor Fitzgerald upgraded shares of Cognex to a “strong-buy” rating in a research note on Friday, December 20th.

Insider Activity

In other news, Director Anthony Sun sold 26,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $40.03, for a total value of $1,040,780.00. Following the completion of the transaction, the director now owns 26,608 shares of the company’s stock, valued at approximately $1,065,118.24. This represents a 49.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Joerg Kuechen sold 2,934 shares of Cognex stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $37.75, for a total transaction of $110,758.50. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Cognex

Large investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new stake in shares of Cognex in the 3rd quarter worth approximately $25,000. Advisors Asset Management Inc. raised its holdings in Cognex by 123.1% during the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 394 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Cognex during the fourth quarter worth approximately $29,000. SRS Capital Advisors Inc. lifted its position in Cognex by 50.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 295 shares during the period. Finally, Truvestments Capital LLC bought a new position in Cognex during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Price Performance

NASDAQ CGNX opened at $38.21 on Monday. The company’s fifty day moving average price is $37.96 and its two-hundred day moving average price is $39.35. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 73.48 and a beta of 1.40. Cognex has a 12 month low of $34.98 and a 12 month high of $53.13.

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.