Cohu (NASDAQ:COHU) Shares Gap Up on Strong Earnings

Shares of Cohu, Inc. (NASDAQ:COHU) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $16.07, but opened at $17.12. Cohu shares last traded at $16.81, with a volume of 43,767 shares changing hands.

The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.14. Cohu had a negative net margin of 17.38% and a negative return on equity of 3.18%. The business had revenue of $96.80 million for the quarter, compared to analyst estimates of $96.61 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The firm’s revenue was down 10.0% compared to the same quarter last year.

Analysts Set New Price Targets

Several brokerages have weighed in on COHU. Stifel Nicolaus dropped their target price on Cohu from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday. TD Cowen lowered their price target on Cohu from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Cohu in a research note on Friday. Finally, B. Riley dropped their price objective on Cohu from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.43.

Hedge Funds Weigh In On Cohu

A number of large investors have recently modified their holdings of COHU. Bank of New York Mellon Corp lifted its holdings in Cohu by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 926,322 shares of the semiconductor company’s stock worth $24,733,000 after buying an additional 19,236 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Cohu by 8.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 677,370 shares of the semiconductor company’s stock worth $18,086,000 after purchasing an additional 53,096 shares during the period. Principal Financial Group Inc. raised its holdings in Cohu by 2.2% during the 4th quarter. Principal Financial Group Inc. now owns 226,031 shares of the semiconductor company’s stock worth $6,035,000 after purchasing an additional 4,920 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Cohu during the 4th quarter valued at about $288,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Cohu in the 4th quarter valued at about $903,000. 94.67% of the stock is currently owned by institutional investors and hedge funds.

Cohu Stock Performance

The firm’s 50-day moving average price is $16.04 and its 200 day moving average price is $21.99. The company has a market cap of $776.75 million, a price-to-earnings ratio of -11.13 and a beta of 1.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.69 and a current ratio of 6.38.

Cohu Company Profile

Cohu, Inc, through its subsidiaries, provides semiconductor test equipment and services in China, the United States, Taiwan, Malaysia, the Philippines, and internationally. The company supplies semiconductor test and inspection handlers, micro-electromechanical system (MEMS) test modules, test contactors, thermal sub-systems, and semiconductor automated test equipment for semiconductor manufacturers and test subcontractors.