Cohu (NASDAQ:COHU) Shares Climb 5.5% – Here’s What Happened

Shares of Cohu, Inc. (NASDAQ:COHU – Get Free Report) shot up 5.5% during trading on Friday. The company traded as high as $67.11 and last traded at $67.1750. Approximately 541,999 shares were traded during trading, a decline of 51% from the average session volume of 1,111,276 shares. The stock had previously closed at $63.70.

Analyst Ratings Changes

COHU has been the topic of a number of recent analyst reports. Needham & Company LLC upped their target price on shares of Cohu from $54.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, July 31st. B. Riley Financial upped their price target on Cohu from $65.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 31st. TD Cowen raised their price objective on shares of Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cohu in a research report on Friday, July 17th. Finally, Craig Hallum reissued a “buy” rating and issued a $74.00 price target on shares of Cohu in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.75.

View Our Latest Stock Report on COHU

Cohu Price Performance

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 cap of $3.17 billion, a PE ratio of -80.40 and a beta of 1.58. The company has a 50 day moving average price of $52.75 and a 200 day moving average price of $49.08.

Cohu (NASDAQ:COHU – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $144.20 million. During the same period in the previous year, the firm posted $0.02 EPS. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. On average, sell-side analysts expect that Cohu, Inc. will post 0.47 EPS for the current year.

Insider Activity at Cohu

In other Cohu news, CEO Luis A. Muller sold 55,794 shares of Cohu stock in a transaction on Monday, September 21st. The shares were sold at an average price of $60.00, for a total value of $3,347,640.00. Following the transaction, the chief executive officer owned 871,825 shares in the company, valued at $52,309,500. This trade represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Andrew Caggia sold 15,252 shares of Cohu stock in a transaction 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 transaction, the director owned 64,778 shares in the company, valued at $3,351,613.72. The trade was 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. Over the last three months, insiders sold 85,101 shares of company stock worth $4,914,333. 3.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cohu

Institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new position in shares of Cohu during the 1st quarter valued at approximately $31,000. Nykredit A S acquired a new position in Cohu in the second quarter valued at approximately $36,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Cohu in the second quarter valued at $48,000. Global Retirement Partners LLC lifted its position in Cohu by 1,254.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,465 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 2,283 shares during the last quarter. Finally, Allworth Financial LP acquired a new position in shares of Cohu during the second quarter worth approximately $65,000. Institutional investors and hedge funds own 94.67% of the company’s stock.

About Cohu

(Get Free Report)

Cohu, Inc is a semiconductor test and inspection equipment company that develops products used throughout the semiconductor manufacturing process. Its portfolio includes semiconductor test handlers, test contactors, inspection and metrology systems, thermal-management solutions, and software for managing and analyzing test data.

The company’s equipment helps semiconductor manufacturers and outsourced semiconductor assembly and test providers handle, connect, test, inspect, and characterize packaged semiconductor devices.

Further Reading

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