Quantbot Technologies LP Buys New Holdings in Cohu, Inc. $COHU

Quantbot Technologies LP acquired a new stake in shares of Cohu, Inc. (NASDAQ:COHU) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 27,406 shares of the semiconductor company’s stock, valued at approximately $2,026,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Cohu in the 2nd quarter worth approximately $545,932,000. SG Capital Management LLC purchased a new stake in shares of Cohu in the fourth quarter worth approximately $33,174,000. Invesco Ltd. increased its stake in Cohu by 478.4% in the second quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company’s stock worth $22,612,000 after purchasing an additional 972,088 shares during the period. Emerald Advisers LLC bought a new stake in Cohu during the 1st quarter valued at about $23,887,000. Finally, Segall Bryant & Hamill LLC raised its stake in shares of 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 acquiring an additional 531,661 shares in the last quarter. 94.67% of the stock is owned by institutional investors.

Cohu Stock Down 5.6%

Shares of COHU opened at $51.30 on Tuesday. Cohu, Inc. has a one year low of $18.67 and a one year high of $74.60. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -61.81 and a beta of 1.59. The stock has a 50 day moving average price of $56.56 and a 200 day moving average price of $45.41. 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) last posted its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.14 by $0.12. Cohu had a negative return on equity of 1.96% and a negative net margin of 7.43%.The firm had revenue of $149.00 million during the quarter, compared to analysts’ expectations of $144.20 million. During the same quarter last year, the firm earned $0.02 earnings per share. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. Equities research analysts forecast that Cohu, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Activity at Cohu

In related news, Director Andrew M. Caggia sold 15,252 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $51.74, for a total transaction of $789,138.48. Following the completion of the sale, the director directly owned 64,778 shares in the company, valued at approximately $3,351,613.72. This trade represents a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher Bohrson sold 10,000 shares of Cohu stock in a transaction dated 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 directly owned 159,702 shares in the company, valued at $8,914,565.64. This trade represents a 5.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 30,307 shares of company stock valued at $1,630,573. 3.05% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on COHU shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a report on Friday, July 17th. Robert W. Baird assumed coverage on Cohu in a report on Wednesday, July 8th. They set an “outperform” rating and a $65.00 price objective for the company. B. Riley Financial increased their price objective on shares of Cohu from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Craig Hallum reaffirmed a “buy” rating and set a $74.00 price target on shares of Cohu in a research report on Friday, July 31st. Finally, TD Cowen lifted their price objective on shares of Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $68.75.

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.