Cohu (NASDAQ:COHU) Shares Up 4.8% – Here’s What Happened

by · The Markets Daily

Cohu, Inc. (NASDAQ:COHU – Get Free Report)’s stock price shot up 4.8% during trading on Monday. The company traded as high as $53.78 and last traded at $53.2420. 73,202 shares traded hands during trading, a decline of 93% from the average session volume of 1,110,358 shares. The stock had previously closed at $50.81.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Craig Hallum reaffirmed a “buy” rating and set a $74.00 target price on shares of Cohu in a research report on Friday, July 31st. Stifel Nicolaus upped their price target on Cohu from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Jefferies Financial Group reissued a “buy” rating and issued a $74.00 price target on shares of Cohu in a research note on Friday, July 31st. Needham & Company LLC raised their price objective on Cohu from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Robert W. Baird began coverage on Cohu in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $65.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.75.

Read Our Latest Analysis on COHU

Cohu Stock Performance

The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -63.54 and a beta of 1.51. The company has a 50 day moving average price of $57.96 and a 200 day moving average price of $53.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 4.72 and a current ratio of 5.74.

Cohu (NASDAQ:COHU – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.12. Cohu had a negative net margin of 7.43% and a negative return on equity of 1.96%. The firm had revenue of $149.00 million for the quarter, compared to the consensus estimate of $144.20 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The business’s revenue was up 38.3% on a year-over-year basis. Equities research analysts predict that Cohu, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Activity at Cohu

In other news, SVP Christopher Bohrson sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $55.82, for a total transaction of $558,200.00. Following the transaction, the senior vice president owned 159,702 shares of the company’s stock, valued at $8,914,565.64. This represents a 5.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Nina Richardson sold 3,055 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $51.54, for a total transaction of $157,454.70. Following the sale, the director directly owned 39,093 shares in the company, valued at approximately $2,014,853.22. This trade represents a 7.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 134,999 shares of company stock valued at $8,321,309 over the last quarter. Corporate insiders own 3.05% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in COHU. BlackRock Inc. purchased a new position in Cohu in the second quarter worth about $545,932,000. The Manufacturers Life Insurance Company purchased a new position in shares of Cohu in the second quarter worth approximately $77,814,000. Paradigm Capital Management Inc. NY purchased a new position in shares of Cohu in the second quarter worth approximately $42,794,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cohu in the second quarter worth approximately $38,523,000. Finally, Segall Bryant & Hamill LLC grew its position in Cohu by 125.5% during the first quarter. Segall Bryant & Hamill LLC now owns 955,344 shares of the semiconductor company’s stock valued at $29,253,000 after buying an additional 531,661 shares during the period. Institutional investors own 94.67% of the company’s stock.

About Cohu

(Get Free Report)

Cohu, Inc is a global provider of semiconductor test and inspection equipment and related services. The company supplies solutions used by semiconductor manufacturers and outsourced semiconductor assembly and test providers to evaluate devices during production, helping improve manufacturing quality, reliability and efficiency.

Cohu’s product portfolio includes semiconductor test handlers, contactors and other interface products, inspection and metrology systems, thermal-management equipment, and software for test-data analysis and factory automation.

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