HSBC Upgrades Cognex (CGNX)
Fintel reports that on May 7, 2024, HSBC upgraded their outlook for Cognex (NasdaqGS:CGNX) from Hold to Buy.
Analyst Price Forecast Suggests 6.68% Upside
As of May 2, 2024, the average one-year price target for Cognex is 47.46. The forecasts range from a low of 36.36 to a high of $63.00. The average price target represents an increase of 6.68% from its latest reported closing price of 44.49.
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The projected annual revenue for Cognex is 1,194MM, an increase of 40.93%. The projected annual non-GAAP EPS is 1.80.
Cognex Declares $0.08 Dividend
On February 15, 2024 the company declared a regular quarterly dividend of $0.08 per share ($0.30 annualized). Shareholders of record as of February 29, 2024 received the payment on March 14, 2024. Previously, the company paid $0.08 per share.
At the current share price of 44.49 / share, the stocks dividend yield is {1}%.
The current dividend yield is 1.38 standard deviations above the historical average.
Additionally, the companys dividend payout ratio is {0}. The payout ratio tells us how much of a companys income is paid out in dividends. A payout ratio of one (1.0) means 100% of the companys income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The companys 3-Year dividend growth rate is {0}%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 897 funds or institutions reporting positions in Cognex. This is an decrease of 33 owner(s) or 3.55% in the last quarter. Average portfolio weight of all funds dedicated to CGNX is 0.19%, an increase of 4.33%. Total shares owned by institutions decreased in the last three months by 5.17% to 170,810K shares. 
The put/call ratio of CGNX is 0.77, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 5,576K shares representing 3.25% ownership of the company. In its prior filing, the firm reported owning 5,058K shares , representing an increase of 9.29%. The firm decreased its portfolio allocation in CGNX by 0.27% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,432K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 5,316K shares , representing an increase of 2.12%. The firm decreased its portfolio allocation in CGNX by 10.21% over the last quarter.
Brown Capital Management holds 5,419K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 5,157K shares , representing an increase of 4.83%. The firm increased its portfolio allocation in CGNX by 1.17% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,226K shares representing 3.04% ownership of the company. In its prior filing, the firm reported owning 5,385K shares , representing a decrease of 3.05%. The firm decreased its portfolio allocation in CGNX by 11.80% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,383K shares representing 2.55% ownership of the company. In its prior filing, the firm reported owning 4,435K shares , representing a decrease of 1.18%. The firm decreased its portfolio allocation in CGNX by 14.61% over the last quarter.
Cognex Background Information
(This description is provided by the company.)
Cognex Corporation designs, develops, manufactures, and markets a wide range of image-based products, which use artificial intelligence (AI) techniques that give them the human-like ability to make decisions on what they see. Cognex products include machine vision systems, machine vision sensors, and barcode readers that are used in factories and distribution centers around the world where they eliminate production and shipping errors.
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This story originally appeared on Fintel.