Roubaix Capital LLC Boosts Stock Position in Cognex Co. (NASDAQ:CGNX)

Roubaix Capital LLC increased its stake in Cognex Co. (NASDAQ:CGNX) by 6.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,764 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,792 shares during the quarter. Cognex makes up approximately 1.8% of Roubaix Capital LLC’s portfolio, making the stock its 28th biggest holding. Roubaix Capital LLC’s holdings in Cognex were worth $3,352,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CGNX. State of Alaska Department of Revenue raised its position in shares of Cognex by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 20,026 shares of the scientific and technical instruments company’s stock valued at $811,000 after purchasing an additional 1,350 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Cognex by 38.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,386 shares of the scientific and technical instruments company’s stock valued at $745,000 after acquiring an additional 5,084 shares during the period. Private Advisor Group LLC bought a new position in shares of Cognex in the third quarter worth $283,000. Copeland Capital Management LLC raised its stake in shares of Cognex by 10.2% during the 3rd quarter. Copeland Capital Management LLC now owns 1,767,426 shares of the scientific and technical instruments company’s stock valued at $71,581,000 after purchasing an additional 162,965 shares during the period. Finally, Raymond James & Associates boosted its stake in Cognex by 25.1% in the 3rd quarter. Raymond James & Associates now owns 474,163 shares of the scientific and technical instruments company’s stock worth $19,204,000 after purchasing an additional 95,063 shares during the period. 88.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cognex

In other Cognex news, Director Dianne M. Parrotte purchased 2,000 shares of Cognex stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $38.62 per share, with a total value of $77,240.00. Following the transaction, the director now directly owns 11,340 shares of the company’s stock, valued at $437,950.80. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Dennis Fehr purchased 6,570 shares of the stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $38.04 per share, with a total value of $249,922.80. Following the completion of the acquisition, the chief financial officer now directly owns 6,570 shares of the company’s stock, valued at $249,922.80. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dianne M. Parrotte bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $38.62 per share, with a total value of $77,240.00. Following the transaction, the director now directly owns 11,340 shares of the company’s stock, valued at $437,950.80. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CGNX has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their target price on Cognex from $45.00 to $39.00 and set a “sell” rating for the company in a research report on Friday, August 2nd. Stephens raised shares of Cognex from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $45.00 to $55.00 in a report on Wednesday, October 16th. Needham & Company LLC raised their price target on Cognex from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, July 29th. DA Davidson dropped their price target on Cognex from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Finally, Vertical Research began coverage on Cognex in a report on Tuesday, July 23rd. They set a “buy” rating and a $58.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cognex presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Cognex Price Performance

Shares of NASDAQ:CGNX opened at $40.46 on Thursday. The business has a fifty day moving average price of $39.34 and a 200-day moving average price of $42.95. The company has a market capitalization of $6.95 billion, a PE ratio of 69.76 and a beta of 1.41. Cognex Co. has a 1-year low of $34.28 and a 1-year high of $53.13.

Cognex (NASDAQ:CGNX) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $234.74 million during the quarter, compared to analyst estimates of $229.86 million. Cognex had a return on equity of 4.97% and a net margin of 9.29%. On average, sell-side analysts anticipate that Cognex Co. will post 0.44 earnings per share for the current fiscal year.

Cognex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.79%. This is a boost from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio is 51.72%.

About Cognex

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.