Cohu (NASDAQ:COHU) Trading 9.1% Higher – What’s Next?

Cohu, Inc. (NASDAQ:COHUGet Free Report) shares traded up 9.1% during trading on Wednesday . The stock traded as high as $59.45 and last traded at $57.64. Approximately 1,460,426 shares traded hands during trading, an increase of 29% from the average daily volume of 1,134,959 shares. The stock had previously closed at $52.82.

Analyst Ratings Changes

Several equities research analysts recently issued reports on COHU shares. Needham & Company LLC lifted their price objective on shares of Cohu from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Jefferies Financial Group reissued a “buy” rating and set a $74.00 target price on shares of Cohu in a research report on Friday, July 31st. Zacks Research upgraded Cohu from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. B. Riley Financial boosted their price target on Cohu from $65.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cohu in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cohu currently has a consensus rating of “Buy” and a consensus target price of $68.75.

Read Our Latest Analysis on COHU

Cohu Trading Up 0.7%

The company’s fifty day moving average is $56.56 and its 200-day moving average is $44.06. The company has a current ratio of 5.74, a quick ratio of 4.72 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $2.78 billion, a P/E ratio of -70.68 and a beta of 1.59.

Cohu (NASDAQ:COHUGet Free Report) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.14 by $0.12. The firm had revenue of $149.00 million for the quarter, compared to the consensus estimate of $144.20 million. Cohu had a negative net margin of 7.43% and a negative return on equity of 1.96%. The business’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS. As a group, sell-side analysts anticipate that Cohu, Inc. will post 0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cohu news, CFO Jeffrey D. Jones sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $46.84, for a total value of $608,920.00. Following the sale, the chief financial officer owned 343,792 shares of the company’s stock, valued at $16,103,217.28. This trade represents a 3.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Andrew M. Caggia sold 15,252 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $789,138.48. Following the completion of the sale, the director directly owned 64,778 shares in the company, valued at $3,351,613.72. This trade represents a 19.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 97,975 shares of company stock valued at $4,664,219 in the last ninety days. Company insiders own 3.05% of the company’s stock.

Institutional Investors Weigh In On Cohu

Hedge funds have recently modified their holdings of the business. Hollencrest Capital Management acquired a new position in Cohu during the 1st quarter valued at $31,000. Farther Finance Advisors LLC boosted its holdings in Cohu by 45.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 452 shares during the period. Kestra Advisory Services LLC acquired a new stake in Cohu in the 4th quarter worth $34,000. Los Angeles Capital Management LLC acquired a new stake in Cohu in the 4th quarter worth $37,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Cohu by 202.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,113 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 1,415 shares during the period. 94.67% of the stock is owned by institutional investors.

Cohu Company Profile

(Get Free Report)

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.

Further Reading

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