Paradigm Capital Management Inc. NY Trims Holdings in Cohu, Inc. $COHU

Paradigm Capital Management Inc. NY trimmed its holdings in shares of Cohu, Inc. (NASDAQ:COHU) by 31.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 623,852 shares of the semiconductor company’s stock after selling 291,045 shares during the quarter. Cohu accounts for approximately 0.7% of Paradigm Capital Management Inc. NY’s investment portfolio, making the stock its 25th largest holding. Paradigm Capital Management Inc. NY owned approximately 1.32% of Cohu worth $19,102,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Caxton Associates LLP boosted its position in Cohu by 183.4% in the 1st quarter. Caxton Associates LLP now owns 50,565 shares of the semiconductor company’s stock valued at $1,548,000 after buying an additional 32,721 shares during the period. Sei Investments Co. raised its stake in shares of Cohu by 93.0% during the first quarter. Sei Investments Co. now owns 251,122 shares of the semiconductor company’s stock valued at $7,689,000 after acquiring an additional 121,015 shares in the last quarter. Hollencrest Capital Management bought a new stake in shares of Cohu during the first quarter valued at approximately $31,000. Illinois Municipal Retirement Fund boosted its holdings in shares of Cohu by 3.5% in the first quarter. Illinois Municipal Retirement Fund now owns 24,993 shares of the semiconductor company’s stock valued at $765,000 after purchasing an additional 839 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new stake in shares of Cohu in the first quarter valued at approximately $207,000. 94.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Jeffrey D. Jones sold 13,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $46.84, for a total transaction of $608,920.00. Following the transaction, the chief financial officer directly owned 343,792 shares of the company’s stock, valued at $16,103,217.28. This represents a 3.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Christopher Bohrson sold 1,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $63.88, for a total value of $63,880.00. Following the completion of the sale, the senior vice president owned 171,702 shares of the company’s stock, valued at approximately $10,968,323.76. This trade represents a 0.58% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 89,668 shares of company stock worth $4,210,016. Insiders own 3.05% of the company’s stock.

Cohu Trading Down 7.0%

Shares of NASDAQ COHU opened at $50.70 on Friday. Cohu, Inc. has a 1-year low of $17.80 and a 1-year high of $74.60. The business has a fifty day moving average price of $56.71 and a 200 day moving average price of $41.78. The stock has a market capitalization of $2.39 billion, a P/E ratio of -42.60 and a beta of 1.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.43 and a quick ratio of 5.31.

Cohu (NASDAQ:COHU) last posted its earnings results 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 company had revenue of $125.12 million during the quarter, compared to analysts’ expectations of $122.14 million. Cohu had a negative net margin of 11.54% and a negative return on equity of 3.50%. Cohu’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS. Equities research analysts expect that Cohu, Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on COHU shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a report on Friday, July 17th. Robert W. Baird initiated coverage on Cohu in a report on Wednesday, July 8th. They issued an “outperform” rating and a $65.00 target price for the company. TD Cowen increased their price target on Cohu from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. B. Riley Financial raised their price target on Cohu from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Evercore restated an “outperform” rating and issued a $53.00 price objective on shares of Cohu in a report on Tuesday, April 28th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $63.86.

Cohu 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.