LS Investment Advisors LLC Purchases 1,200 Shares of Cognex Corporation (NASDAQ:CGNX)

LS Investment Advisors LLC raised its position in Cognex Corporation (NASDAQ:CGNX) by 16.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,557 shares of the scientific and technical instruments company’s stock after buying an additional 1,200 shares during the period. LS Investment Advisors LLC’s holdings in Cognex Corporation were worth $726,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Commerce Bank increased its stake in Cognex Corporation by 0.4% in the first quarter. Commerce Bank now owns 11,621 shares of the scientific and technical instruments company’s stock worth $975,000 after buying an additional 45 shares in the last quarter. Sawtooth Solutions LLC increased its stake in Cognex Corporation by 1.4% in the first quarter. Sawtooth Solutions LLC now owns 3,958 shares of the scientific and technical instruments company’s stock worth $332,000 after buying an additional 54 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Cognex Corporation by 0.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 14,830 shares of the scientific and technical instruments company’s stock worth $1,245,000 after buying an additional 66 shares in the last quarter. Flinton Capital Management LLC increased its stake in shares of Cognex Corporation by 3.4% in the first quarter. Flinton Capital Management LLC now owns 2,400 shares of the scientific and technical instruments company’s stock valued at $201,000 after buying an additional 80 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its stake in shares of Cognex Corporation by 3.4% in the first quarter. Meadow Creek Investment Management LLC now owns 3,300 shares of the scientific and technical instruments company’s stock valued at $277,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 87.46% of the company’s stock.

Cognex Corporation (NASDAQ CGNX) traded up 0.26% during mid-day trading on Friday, reaching $101.53. The company had a trading volume of 450,397 shares. The firm has a market capitalization of $8.79 billion, a P/E ratio of 46.38 and a beta of 1.43. Cognex Corporation has a one year low of $47.25 and a one year high of $110.69. The firm’s 50-day moving average is $95.18 and its 200-day moving average is $86.67.

Cognex Corporation (NASDAQ:CGNX) last issued its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. The business had revenue of $172.90 million during the quarter, compared to the consensus estimate of $169.79 million. Cognex Corporation had a return on equity of 19.51% and a net margin of 33.10%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. On average, equities research analysts anticipate that Cognex Corporation will post $2.56 earnings per share for the current fiscal year.

Cognex Corporation announced that its Board of Directors has initiated a stock buyback program on Monday, May 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.085 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.34 dividend on an annualized basis and a yield of 0.33%. Cognex Corporation’s payout ratio is currently 15.60%.

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Several equities research analysts have recently commented on the stock. Wolfe Research upgraded shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Cowen and Company restated an “outperform” rating and issued a $135.00 target price (up previously from $100.00) on shares of Cognex Corporation in a research note on Tuesday, August 8th. BidaskClub upgraded shares of Cognex Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $82.75.

In other news, Director Theodor Krantz sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $96.09, for a total transaction of $720,675.00. Following the completion of the sale, the director now owns 26,250 shares in the company, valued at $2,522,362.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $102.67, for a total value of $513,350.00. Following the sale, the director now owns 6,000 shares of the company’s stock, valued at approximately $616,020. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,009 shares of company stock valued at $11,811,786. 5.60% of the stock is currently owned by corporate insiders.

About Cognex Corporation

Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.

Institutional Ownership by Quarter for Cognex Corporation (NASDAQ:CGNX)

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