Cognex (NASDAQ:CGNX) Sets New 52-Week Low – Time to Sell?

Cognex Co. (NASDAQ:CGNX) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $26.90 and last traded at $27.25, with a volume of 911462 shares trading hands. The stock had previously closed at $30.59.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CGNX. Cantor Fitzgerald upgraded shares of Cognex to a “strong-buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group dropped their target price on shares of Cognex from $39.00 to $35.00 and set a “sell” rating for the company in a research report on Tuesday, February 18th. Stephens restated an “overweight” rating and issued a $55.00 price target on shares of Cognex in a research report on Wednesday, March 12th. Needham & Company LLC decreased their price objective on shares of Cognex from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, February 14th. Finally, Robert W. Baird lowered their price target on Cognex from $42.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cognex presently has an average rating of “Hold” and a consensus price target of $44.83.

Cognex Stock Performance

The company has a fifty day moving average price of $33.65 and a two-hundred day moving average price of $37.16. The company has a market cap of $4.23 billion, a P/E ratio of 40.90 and a beta of 1.56.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Cognex had a return on equity of 5.65% and a net margin of 11.61%. Research analysts anticipate that Cognex Co. will post 0.61 EPS for the current year.

Cognex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Thursday, February 27th. Cognex’s dividend payout ratio (DPR) is presently 52.46%.

Insider Transactions at Cognex

In related news, EVP Carl Gerst sold 6,803 shares of Cognex stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $32.73, for a total transaction of $222,662.19. Following the completion of the transaction, the executive vice president now owns 4,566 shares in the company, valued at approximately $149,445.18. This trade represents a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CGNX. Wealth Enhancement Advisory Services LLC raised its stake in Cognex by 56.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,844 shares of the scientific and technical instruments company’s stock valued at $1,034,000 after acquiring an additional 10,458 shares during the period. Centaurus Financial Inc. increased its holdings in shares of Cognex by 16.0% in the fourth quarter. Centaurus Financial Inc. now owns 3,267 shares of the scientific and technical instruments company’s stock valued at $117,000 after purchasing an additional 450 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Cognex by 9.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,038,345 shares of the scientific and technical instruments company’s stock valued at $73,095,000 after purchasing an additional 177,324 shares during the period. Forum Financial Management LP acquired a new stake in shares of Cognex during the 4th quarter worth about $210,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of Cognex during the 4th quarter worth about $124,000. 88.12% of the stock is currently owned by institutional investors.

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.