Tema Etfs LLC Sells 11,152 Shares of Cognex Corporation $CGNX

Tema Etfs LLC decreased its holdings in Cognex Corporation (NASDAQ:CGNX) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,136 shares of the scientific and technical instruments company’s stock after selling 11,152 shares during the period. Tema Etfs LLC’s holdings in Cognex were worth $8,748,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CGNX. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Cognex in the 4th quarter worth approximately $209,000. Allspring Global Investments Holdings LLC bought a new position in Cognex in the 4th quarter worth approximately $753,000. Hennion & Walsh Asset Management Inc. purchased a new stake in Cognex during the 4th quarter valued at approximately $212,000. Exchange Traded Concepts LLC raised its position in shares of Cognex by 36.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 547,911 shares of the scientific and technical instruments company’s stock valued at $19,714,000 after buying an additional 145,349 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new stake in shares of Cognex during the fourth quarter valued at approximately $504,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CGNX. JPMorgan Chase & Co. upgraded shares of Cognex from an “underweight” rating to a “neutral” rating and set a $55.00 target price for the company in a research report on Monday, March 9th. Needham & Company LLC lifted their price target on shares of Cognex from $47.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, February 12th. UBS Group reiterated a “buy” rating and issued a $70.00 price target on shares of Cognex in a research note on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Cognex in a report on Monday, December 29th. Finally, Truist Financial cut their price objective on Cognex from $45.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Cognex Stock Performance

NASDAQ CGNX opened at $49.34 on Thursday. The stock has a 50 day moving average price of $48.97 and a 200-day moving average price of $43.66. Cognex Corporation has a one year low of $22.67 and a one year high of $59.88. The company has a market capitalization of $8.24 billion, a P/E ratio of 73.64 and a beta of 1.47.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings results on Wednesday, February 11th. The scientific and technical instruments company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Cognex had a net margin of 11.51% and a return on equity of 9.02%. The company had revenue of $252.34 million for the quarter, compared to analysts’ expectations of $238.92 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. Cognex’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities analysts predict that Cognex Corporation will post 0.61 EPS for the current fiscal year.

Cognex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th were issued a $0.085 dividend. The ex-dividend date was Thursday, February 26th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.7%. Cognex’s payout ratio is 50.75%.

Insider Activity

In other Cognex news, VP Laura Ann Macdonald sold 14,881 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $57.16, for a total transaction of $850,597.96. Following the sale, the vice president directly owned 2,212 shares of the company’s stock, valued at $126,437.92. The trade was a 87.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Willett sold 177,052 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $58.39, for a total value of $10,338,066.28. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 196,083 shares of company stock worth $11,419,321. 1.70% of the stock is currently owned by corporate insiders.

Cognex Company Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.