Cohu (NASDAQ:COHU) Reaches New 52-Week High – Here’s Why

Cohu, Inc. (NASDAQ:COHU)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $50.83 and last traded at $50.3860, with a volume of 57561 shares. The stock had previously closed at $49.54.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COHU. Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a research report on Monday, April 20th. TD Cowen boosted their price objective on shares of Cohu from $35.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Jefferies Financial Group set a $60.00 price objective on shares of Cohu and gave the stock a “buy” rating in a research report on Friday, May 1st. B. Riley Financial restated a “buy” rating on shares of Cohu in a research report on Monday, April 20th. Finally, Stifel Nicolaus boosted their price objective on shares of Cohu from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Cohu Stock Performance

The firm’s 50-day moving average is $36.34 and its 200 day moving average is $29.71. The stock has a market cap of $2.33 billion, a PE ratio of -41.45 and a beta of 1.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.31 and a current ratio of 6.43.

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

Insider Transactions at Cohu

In other Cohu news, SVP Christopher Bohrson sold 1,500 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $51.28, for a total value of $76,920.00. Following the transaction, the senior vice president directly owned 173,702 shares of the company’s stock, valued at approximately $8,907,438.56. The trade was a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 3,500 shares of company stock valued at $143,490. Insiders own 3.05% of the company’s stock.

Hedge Funds Weigh In On Cohu

Institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in Cohu by 45.4% in the 3rd quarter. Bessemer Group Inc. now owns 1,564 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 488 shares during the period. Hollencrest Capital Management acquired a new position in Cohu in the 1st quarter valued at $31,000. Hantz Financial Services Inc. increased its stake in Cohu by 83.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,569 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 715 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Cohu by 45.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 452 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of Cohu during the 4th quarter worth $34,000. 94.67% of the stock is owned by institutional investors and hedge funds.

About Cohu

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.