Shares of Cohu, Inc. (NASDAQ:COHU – Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $70.92 and last traded at $70.07, with a volume of 897286 shares changing hands. The stock had previously closed at $69.40.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. B. Riley Financial reissued a “buy” rating on shares of Cohu in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cohu in a research report on Monday, April 20th. Evercore reiterated an “outperform” rating and set a $53.00 target price on shares of Cohu in a research note on Tuesday, April 28th. Needham & Company LLC increased their target price on Cohu from $33.00 to $54.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Zacks Research upgraded Cohu from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.33.
Read Our Latest Report on Cohu
Cohu Stock Performance
Cohu (NASDAQ:COHU – Get Free Report) last issued its quarterly earnings data 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 business had revenue of $125.12 million for the quarter, compared to analysts’ expectations of $122.14 million. Cohu had a negative return on equity of 3.50% and a negative net margin of 11.54%.The company’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) earnings per share. As a group, research analysts anticipate that Cohu, Inc. will post 0.17 EPS for the current year.
Insider Transactions at Cohu
In related news, Director James A. Donahue sold 10,257 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $46.77, for a total value of $479,719.89. Following the transaction, the director owned 3,578 shares in the company, valued at $167,343.06. The trade was a 74.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Luis A. Muller sold 45,154 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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. This trade represents a 4.64% decrease in their position. 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. Insiders have sold a total of 90,668 shares of company stock worth $4,248,016 over the last three months. 3.05% of the stock is currently owned by company insiders.
Institutional Trading of Cohu
A number of institutional investors have recently modified their holdings of COHU. Segall Bryant & Hamill LLC grew its holdings in Cohu by 125.5% during the first quarter. Segall Bryant & Hamill LLC now owns 955,344 shares of the semiconductor company’s stock worth $29,253,000 after acquiring an additional 531,661 shares during the period. Bank of America Corp DE lifted its holdings in Cohu by 2.2% in the first quarter. Bank of America Corp DE now owns 517,195 shares of the semiconductor company’s stock valued at $15,837,000 after acquiring an additional 11,123 shares during the period. Amundi lifted its holdings in Cohu by 89.0% in the first quarter. Amundi now owns 36,844 shares of the semiconductor company’s stock valued at $1,128,000 after acquiring an additional 17,345 shares during the period. California State Teachers Retirement System boosted its position in shares of Cohu by 35.8% during the 1st quarter. California State Teachers Retirement System now owns 58,792 shares of the semiconductor company’s stock worth $1,800,000 after purchasing an additional 15,503 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Cohu by 44.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 19,734 shares of the semiconductor company’s stock worth $604,000 after purchasing an additional 6,045 shares in the last quarter. 94.67% of the stock is currently 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.
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