Nissay Asset Management Corp Japan ADV Raises Holdings in Cognex Co. (NASDAQ:CGNX)

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Nissay Asset Management Corp Japan ADV grew its position in shares of Cognex Co. (NASDAQ:CGNX) by 10.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 16,747 shares of the scientific and technical instruments company’s stock after buying an additional 1,543 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Cognex were worth $1,000,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CGNX. Creative Financial Designs Inc. ADV purchased a new position in shares of Cognex during the second quarter worth about $26,000. Signaturefd LLC grew its holdings in shares of Cognex by 115.7% during the first quarter. Signaturefd LLC now owns 742 shares of the scientific and technical instruments company’s stock worth $31,000 after purchasing an additional 398 shares during the last quarter. Allworth Financial LP purchased a new position in shares of Cognex during the second quarter worth about $48,000. Exchange Traded Concepts LLC grew its holdings in shares of Cognex by 1,192.1% during the second quarter. Exchange Traded Concepts LLC now owns 814 shares of the scientific and technical instruments company’s stock worth $49,000 after purchasing an additional 751 shares during the last quarter. Finally, Nvwm LLC purchased a new position in shares of Cognex during the first quarter worth about $55,000. 93.97% of the stock is currently owned by institutional investors.

A number of equities analysts recently issued reports on CGNX shares. Robert W. Baird lowered Cognex from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $44.00 to $45.00 in a report on Tuesday, June 2nd. HSBC began coverage on shares of Cognex in a research report on Monday, May 25th. They set a “hold” rating and a $55.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Cognex from $36.00 to $40.00 and gave the company an “underweight” rating in a research report on Friday, April 17th. Morgan Stanley lifted their price target on shares of Cognex from $39.00 to $55.00 and gave the company an “underweight” rating in a research report on Friday. Finally, BidaskClub upgraded shares of Cognex from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Cognex currently has a consensus rating of “Hold” and a consensus price target of $53.40.

CGNX stock opened at $66.87 on Friday. The stock has a market capitalization of $11.57 billion, a P/E ratio of 82.56 and a beta of 1.79. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.59 and a current ratio of 4.47. Cognex Co. has a one year low of $35.20 and a one year high of $66.95. The company has a 50 day moving average price of $60.53 and a two-hundred day moving average price of $53.68.

Cognex (NASDAQ:CGNX) last released its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.11). The firm had revenue of $169.10 million during the quarter, compared to analysts’ expectations of $149.90 million. Cognex had a return on equity of 10.67% and a net margin of 20.50%. The firm’s revenue was down 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. Research analysts forecast that Cognex Co. will post 0.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.055 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.22 annualized dividend and a yield of 0.33%. Cognex’s payout ratio is currently 18.97%.

Cognex Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture 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.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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