Cohu, Inc. (NASDAQ:COHU – Get Free Report)’s share price fell 8.8% during mid-day trading on Thursday. The stock traded as low as $52.15 and last traded at $53.1150. Approximately 162,214 shares traded hands during trading, a decline of 85% from the average session volume of 1,108,461 shares. The stock had previously closed at $58.24.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Craig Hallum restated a “buy” rating and set a $74.00 target price on shares of Cohu in a research report on Friday, July 31st. Stifel Nicolaus lifted their price target on shares of Cohu from $50.00 to $70.00 and gave the company a “buy” rating in a report on Friday, July 10th. B. Riley Financial lifted their price target on shares of Cohu from $65.00 to $69.00 and gave the company a “buy” rating in a report on Friday, July 31st. Robert W. Baird assumed coverage on shares of Cohu in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $65.00 price target on the stock. Finally, Zacks Research downgraded shares of Cohu from a “strong-buy” rating to a “hold” rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.75.
Get Our Latest Research Report on COHU
Cohu Stock Down 7.9%
Cohu (NASDAQ:COHU – Get Free Report) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. Cohu had a negative net margin of 7.43% and a negative return on equity of 1.96%. The firm had revenue of $149.00 million during the quarter, compared to analyst estimates of $144.20 million. During the same period last year, the firm posted $0.02 earnings per share. Cohu’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities analysts expect that Cohu, Inc. will post 0.47 EPS for the current fiscal year.
Insider Buying and Selling at Cohu
In other news, Director Nina Richardson sold 3,055 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $51.54, for a total value of $157,454.70. Following the sale, the director directly owned 39,093 shares in the company, valued at $2,014,853.22. The trade was a 7.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Luis Muller sold 55,794 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $60.00, for a total value of $3,347,640.00. Following the sale, the chief executive officer directly owned 871,825 shares in the company, valued at $52,309,500. The trade was a 6.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders sold 133,999 shares of company stock valued at $8,265,999. Corporate insiders own 3.05% of the company’s stock.
Institutional Investors Weigh In On Cohu
Institutional investors have recently modified their holdings of the stock. Nykredit A S bought a new position in shares of Cohu during the 2nd quarter valued at approximately $36,000. CoreCap Advisors LLC lifted its position in Cohu by 150.0% in the third quarter. CoreCap Advisors LLC now owns 500 shares of the semiconductor company’s stock worth $34,000 after buying an additional 300 shares during the last quarter. Fortitude Family Office LLC lifted its position in Cohu by 147.9% in the third quarter. Fortitude Family Office LLC now owns 528 shares of the semiconductor company’s stock worth $36,000 after buying an additional 315 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Cohu during the second quarter worth $48,000. Finally, Allworth Financial LP purchased a new position in Cohu during the second quarter worth $65,000. 94.67% of the stock is owned by institutional investors.
About Cohu
Cohu, Inc provides semiconductor test and inspection equipment, consumables and related services used by semiconductor manufacturers and outsourced semiconductor assembly and test providers. Its solutions support the testing and handling of integrated circuits throughout the manufacturing process, helping customers evaluate device performance, reliability and quality.
The company’s product portfolio includes semiconductor test handlers, inspection and metrology systems, thermal-management equipment, test contactors and other interface products.
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