Truist Financial Cuts Cognex (NASDAQ:CGNX) Price Target to $42.00

Cognex (NASDAQ:CGNX) had its price objective decreased by Truist Financial from $43.00 to $42.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the scientific and technical instruments company’s stock. Truist Financial’s price objective suggests a potential upside of 17.42% from the company’s current price.

Several other equities research analysts also recently commented on the stock. Needham & Company LLC lowered their target price on shares of Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Stephens upgraded shares of Cognex from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $45.00 to $55.00 in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.92.

Cognex Trading Down 0.8 %

Cognex stock opened at $35.77 on Thursday. The firm has a market capitalization of $6.14 billion, a P/E ratio of 68.79 and a beta of 1.39. The business has a 50-day moving average of $39.51 and a 200-day moving average of $41.73. Cognex has a 1 year low of $34.79 and a 1 year high of $53.13.

Insider Transactions at Cognex

In other news, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $40.03, for a total value of $1,040,780.00. Following the completion of the transaction, the director now owns 26,608 shares in the company, valued at $1,065,118.24. This trade represents a 49.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Joerg Kuechen sold 2,934 shares of Cognex stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $37.75, for a total value of $110,758.50. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Cognex

Several large investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC increased its holdings in Cognex by 19.8% during the second quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company’s stock worth $85,000 after buying an additional 301 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Cognex by 9.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,055 shares of the scientific and technical instruments company’s stock worth $164,000 after purchasing an additional 349 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Cognex by 11.3% in the 2nd quarter. Fifth Third Bancorp now owns 3,829 shares of the scientific and technical instruments company’s stock valued at $179,000 after purchasing an additional 390 shares during the period. Advisors Asset Management Inc. lifted its stake in Cognex by 123.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 394 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Cognex by 20.1% during the third quarter. First Horizon Advisors Inc. now owns 2,732 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 457 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

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.