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

Shares of Cohu, Inc. (NASDAQ:COHU) hit a new 52-week high during trading on Tuesday . The stock traded as high as $38.43 and last traded at $38.11, with a volume of 33081 shares. The stock had previously closed at $37.62.

Wall Street Analyst Weigh In

Several analysts have commented on COHU shares. Evercore initiated coverage on shares of Cohu in a research note on Monday, March 16th. They issued an “outperform” rating and a $35.00 price target on the stock. B. Riley Financial decreased their target price on shares of Cohu from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Zacks Research cut shares of Cohu from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a research report on Wednesday, January 21st. Finally, Needham & Company LLC upped their target price on shares of Cohu from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, Cohu currently has an average rating of “Hold” and an average target price of $34.00.

Cohu Price Performance

The company has a current ratio of 6.88, a quick ratio of 5.69 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.84 billion, a PE ratio of -24.50 and a beta of 1.24. The stock’s 50-day moving average is $30.80 and its two-hundred day moving average is $26.44.

Cohu (NASDAQ:COHU) last issued its earnings results on Thursday, February 12th. The semiconductor company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.22). The company had revenue of $122.23 million for the quarter, compared to analysts’ expectations of $122.09 million. Cohu had a negative return on equity of 3.76% and a negative net margin of 16.40%.The business’s revenue was up 29.9% compared to the same quarter last year. During the same period last year, the business posted ($0.15) earnings per share. On average, equities analysts predict that Cohu, Inc. will post -0.36 EPS for the current year.

Insider Activity at Cohu

In other news, SVP Christopher Bohrson sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $28.57, for a total transaction of $28,570.00. Following the transaction, the senior vice president directly owned 176,202 shares of the company’s stock, valued at approximately $5,034,091.14. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.05% of the company’s stock.

Hedge Funds Weigh In On Cohu

A number of institutional investors have recently modified their holdings of COHU. Tudor Investment Corp ET AL purchased a new position in shares of Cohu during the third quarter worth approximately $243,960,000. SG Capital Management LLC purchased a new position in shares of Cohu during the fourth quarter worth approximately $33,174,000. Invesco Ltd. increased its position in shares of Cohu by 478.4% during the second quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company’s stock worth $22,612,000 after acquiring an additional 972,088 shares during the period. Tributary Capital Management LLC increased its position in shares of Cohu by 131.5% during the third 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 during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Cohu during the fourth quarter worth approximately $9,859,000. 94.67% of the stock is owned by hedge funds and other 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.