Cohu (NASDAQ:COHU) Hits New 12-Month High – Here’s What Happened

Cohu, Inc. (NASDAQ:COHU)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $49.45 and last traded at $48.7760, with a volume of 344728 shares trading hands. The stock had previously closed at $46.69.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. B. Riley Financial reaffirmed a “buy” rating on shares of Cohu in a research report on Monday, April 20th. Zacks Research raised Cohu from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. TD Cowen upped their target price on Cohu from $35.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Needham & Company LLC boosted their price target on Cohu from $33.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cohu in a research note on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.00.

Cohu Stock Performance

The company has a current ratio of 6.43, a quick ratio of 5.31 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $35.18 and its two-hundred day moving average is $29.13. The company has a market cap of $2.24 billion, a PE ratio of -39.90 and a beta of 1.61.

Cohu (NASDAQ:COHU) last released its earnings results on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Cohu had a negative net margin of 11.54% and a negative return on equity of 3.50%. The firm had revenue of $125.12 million for the quarter, compared to analysts’ expectations of $122.14 million. During the same quarter last year, the firm posted ($0.02) EPS. The firm’s quarterly revenue was up 29.3% compared to the same quarter last year. On average, equities research analysts anticipate that Cohu, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling at Cohu

In related news, SVP Christopher Bohrson sold 1,000 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00. Following the transaction, the senior vice president directly owned 175,202 shares in the company, valued at approximately $6,657,676. This represents a 0.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cohu

Several hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL bought a new position in Cohu during the 3rd quarter valued at about $243,960,000. Vanguard Group Inc. grew its stake in Cohu by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,361,164 shares of the semiconductor company’s stock worth $101,484,000 after acquiring an additional 57,618 shares in the last quarter. Royce & Associates LP grew its stake in Cohu by 0.4% in the 4th quarter. Royce & Associates LP now owns 1,918,424 shares of the semiconductor company’s stock worth $44,642,000 after acquiring an additional 7,927 shares in the last quarter. State Street Corp grew its stake in Cohu by 0.3% in the 4th quarter. State Street Corp now owns 1,819,530 shares of the semiconductor company’s stock worth $42,340,000 after acquiring an additional 5,439 shares in the last quarter. Finally, Tributary Capital Management LLC grew its stake in Cohu by 131.5% in the 3rd quarter. Tributary Capital Management LLC now owns 1,520,386 shares of the semiconductor company’s stock worth $30,909,000 after acquiring an additional 863,654 shares in the last quarter. 94.67% of the stock is currently owned by institutional investors.

Cohu Company Profile

Cohu, Inc is a global provider of semiconductor test and inspection solutions, offering a broad portfolio of products designed to support chip manufacturers, outsourced semiconductor assembly and test (OSAT) providers, and electronics original equipment manufacturers (OEMs). The company’s product lineup includes automatic test handlers, wafer probers, test sockets, thermal subassembly systems and burn-in boards, all engineered to optimize throughput, accuracy and reliability in semiconductor production and final test.

Founded in 1947 and headquartered in Poway, California, Cohu has grown through both organic development and targeted acquisitions to become a recognized leader in test handling and interconnect technologies.