Systematic Financial Management LP Reduces Stake in Cohu, Inc. $COHU

Systematic Financial Management LP lowered its position in Cohu, Inc. (NASDAQ:COHU) by 9.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,401,234 shares of the semiconductor company’s stock after selling 139,848 shares during the quarter. Cohu accounts for about 1.0% of Systematic Financial Management LP’s investment portfolio, making the stock its 24th biggest holding. Systematic Financial Management LP’s holdings in Cohu were worth $42,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC lifted its holdings in Cohu by 2.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,231 shares of the semiconductor company’s stock valued at $378,000 after acquiring an additional 332 shares during the period. Sheets Smith Wealth Management grew its stake in shares of Cohu by 3.0% during the 1st quarter. Sheets Smith Wealth Management now owns 14,644 shares of the semiconductor company’s stock valued at $448,000 after purchasing an additional 420 shares during the period. US Bancorp DE grew its stake in shares of Cohu by 4.6% during the 3rd quarter. US Bancorp DE now owns 9,847 shares of the semiconductor company’s stock valued at $200,000 after purchasing an additional 432 shares during the period. Farther Finance Advisors LLC increased its position 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 valued at $34,000 after purchasing an additional 452 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Cohu by 0.9% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 65,233 shares of the semiconductor company’s stock valued at $1,255,000 after purchasing an additional 576 shares during the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

Insider Transactions at Cohu

In related news, CFO Jeffrey D. Jones sold 13,000 shares of Cohu stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $46.84, for a total transaction of $608,920.00. Following the transaction, the chief financial officer owned 343,792 shares in the company, valued at approximately $16,103,217.28. The trade was a 3.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Luis A. Muller sold 45,154 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $46.62, for a total transaction of $2,105,079.48. Following the completion of the transaction, the chief executive officer directly owned 927,619 shares of the company’s stock, valued at $43,245,597.78. This represents a 4.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 89,668 shares of company stock valued at $4,210,016. Company insiders own 3.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. B. Riley Financial raised their price objective on shares of Cohu from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cohu in a report on Friday, July 17th. TD Cowen increased their price target on shares of Cohu from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Zacks Research upgraded shares of Cohu from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Evercore reissued an “outperform” rating and set a $53.00 price objective on shares of Cohu in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.86.

Cohu Trading Down 0.9%

Shares of NASDAQ:COHU opened at $54.51 on Friday. The stock has a 50 day moving average of $56.64 and a 200 day moving average of $41.72. The company has a market cap of $2.57 billion, a PE ratio of -45.81 and a beta of 1.55. Cohu, Inc. has a 12-month low of $17.80 and a 12-month high of $74.60. The company has a current ratio of 6.43, a quick ratio of 5.31 and a debt-to-equity ratio of 0.37.

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

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.