Olympiad Research LP Purchases Shares of 15,603 Cognex Co. (NASDAQ:CGNX)

Olympiad Research LP purchased a new stake in Cognex Co. (NASDAQ:CGNX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,603 shares of the scientific and technical instruments company’s stock, valued at approximately $632,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CGNX. Price T Rowe Associates Inc. MD grew its holdings in shares of Cognex by 986.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,619,007 shares of the scientific and technical instruments company’s stock worth $68,679,000 after purchasing an additional 1,469,961 shares during the last quarter. Swedbank AB acquired a new stake in shares of Cognex during the first quarter worth approximately $58,502,000. Impax Asset Management Group plc raised its stake in shares of Cognex by 32.8% in the second quarter. Impax Asset Management Group plc now owns 5,098,711 shares of the scientific and technical instruments company’s stock valued at $237,812,000 after acquiring an additional 1,259,116 shares during the last quarter. William Blair Investment Management LLC grew its position in Cognex by 41.4% during the 1st quarter. William Blair Investment Management LLC now owns 3,716,623 shares of the scientific and technical instruments company’s stock worth $157,659,000 after acquiring an additional 1,088,095 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Cognex by 132.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,272,640 shares of the scientific and technical instruments company’s stock valued at $59,509,000 after purchasing an additional 723,976 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.

Cognex Price Performance

Cognex stock opened at $42.60 on Thursday. Cognex Co. has a fifty-two week low of $34.79 and a fifty-two week high of $53.13. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 81.92 and a beta of 1.40. The company’s 50 day simple moving average is $39.50 and its 200 day simple moving average is $42.99.

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 $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio is currently 61.54%.

Insiders Place Their Bets

In other Cognex news, CFO Dennis Fehr purchased 6,570 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $38.04 per share, with a total value of $249,922.80. Following the completion of the transaction, the chief financial officer now directly owns 6,570 shares in the company, valued at $249,922.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CGNX. Robert W. Baird decreased their target price on Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. DA Davidson dropped their target price on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Truist Financial cut shares of Cognex from a “buy” rating to a “hold” rating and decreased their price target for the company from $46.00 to $43.00 in a research note on Tuesday. Vertical Research assumed coverage on Cognex in a report on Tuesday, July 23rd. They set a “buy” rating and a $58.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their target price on Cognex from $45.00 to $39.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $47.91.

Cognex 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.