Atom Investors LP purchased a new position in shares of Cohu, Inc. (NASDAQ:COHU – Free Report) during the 4th quarter, Holdings Channel.com reports. The firm purchased 400,439 shares of the semiconductor company’s stock, valued at approximately $9,318,000. Cohu comprises approximately 0.7% of Atom Investors LP’s investment portfolio, making the stock its 20th biggest position.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Wisconsin Investment Board raised its stake in Cohu by 92.7% during the 4th quarter. State of Wisconsin Investment Board now owns 142,111 shares of the semiconductor company’s stock worth $3,307,000 after acquiring an additional 68,358 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in Cohu during the 4th quarter worth $2,774,000. Magnetar Financial LLC purchased a new position in Cohu during the 4th quarter worth $705,000. Meros Investment Management LP grew its position in Cohu by 8.1% during the 4th quarter. Meros Investment Management LP now owns 355,744 shares of the semiconductor company’s stock worth $8,278,000 after purchasing an additional 26,756 shares during the last quarter. Finally, Needham Investment Management LLC grew its position in Cohu by 22.9% during the 4th quarter. Needham Investment Management LLC now owns 145,000 shares of the semiconductor company’s stock worth $3,374,000 after purchasing an additional 27,000 shares during the last quarter. 94.67% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have issued reports on COHU shares. TD Cowen raised their price objective on shares of Cohu from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday. Evercore reissued an “outperform” rating and set a $53.00 price objective on shares of Cohu in a research report on Tuesday, April 28th. Zacks Research raised shares of Cohu from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Needham & Company LLC raised their price objective on shares of Cohu from $33.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cohu in a research report on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cohu has an average rating of “Moderate Buy” and an average target price of $52.33.
Insiders Place Their Bets
In other news, CEO Luis A. Muller sold 45,154 shares of Cohu stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $46.62, for a total value of $2,105,079.48. Following the sale, the chief executive officer owned 927,619 shares of the company’s stock, valued at $43,245,597.78. The trade was a 4.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven J. Bilodeau sold 10,257 shares of Cohu stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $44.85, for a total transaction of $460,026.45. Following the completion of the sale, the director directly owned 52,272 shares in the company, valued at approximately $2,344,399.20. The trade was a 16.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 90,668 shares of company stock valued at $4,248,016. Corporate insiders own 3.05% of the company’s stock.
Cohu Stock Down 2.6%
Shares of NASDAQ:COHU opened at $62.41 on Wednesday. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -52.44 and a beta of 1.62. The firm’s 50-day simple moving average is $47.65 and its 200-day simple moving average is $34.88. The company has a quick ratio of 5.31, a current ratio of 6.43 and a debt-to-equity ratio of 0.37. Cohu, Inc. has a fifty-two week low of $17.71 and a fifty-two week high of $69.63.
Cohu (NASDAQ:COHU – Get Free Report) last issued its earnings results on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share 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 analysts’ expectations of $122.14 million. Cohu had a negative net margin of 11.54% and a negative return on equity of 3.50%. The firm’s revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) EPS. As a group, equities research analysts predict that Cohu, Inc. will post 0.17 earnings per share for the current year.
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.
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