California State Teachers Retirement System Decreases Stake in Cohu, Inc. (NASDAQ:COHU)

California State Teachers Retirement System lowered its position in Cohu, Inc. (NASDAQ:COHU) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 43,871 shares of the semiconductor company’s stock after selling 591 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Cohu worth $1,171,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in Cohu by 1.4% during the 4th quarter. Franklin Resources Inc. now owns 3,191,263 shares of the semiconductor company’s stock valued at $85,207,000 after buying an additional 45,571 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Cohu by 78.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 2,615,235 shares of the semiconductor company’s stock valued at $69,827,000 after buying an additional 1,152,825 shares in the last quarter. Royce & Associates LP grew its holdings in Cohu by 28.0% during the 4th quarter. Royce & Associates LP now owns 1,442,394 shares of the semiconductor company’s stock valued at $38,512,000 after buying an additional 315,605 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Cohu by 15.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,148,977 shares of the semiconductor company’s stock valued at $30,678,000 after buying an additional 154,550 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in Cohu by 52.2% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,139,325 shares of the semiconductor company’s stock valued at $30,420,000 after buying an additional 390,558 shares in the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on COHU. B. Riley reduced their target price on Cohu from $34.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 14th. Stifel Nicolaus reduced their target price on Cohu from $35.00 to $28.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Wall Street Zen lowered Cohu from a “hold” rating to a “sell” rating in a report on Tuesday, May 13th. Needham & Company LLC reissued a “hold” rating on shares of Cohu in a report on Friday, May 2nd. Finally, TD Cowen cut their price objective on Cohu from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Cohu currently has an average rating of “Hold” and a consensus target price of $28.43.

Cohu Stock Up 4.6%

Shares of NASDAQ COHU opened at $19.10 on Tuesday. Cohu, Inc. has a 12 month low of $12.57 and a 12 month high of $36.60. The company has a current ratio of 6.38, a quick ratio of 4.69 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $888.21 million, a price-to-earnings ratio of -12.73 and a beta of 1.25. The business has a 50-day moving average of $16.22 and a 200-day moving average of $20.34.

Cohu (NASDAQ:COHU) last released its earnings results on Thursday, May 1st. The semiconductor company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.14. The company had revenue of $96.80 million during the quarter, compared to the consensus estimate of $96.61 million. Cohu had a negative return on equity of 3.18% and a negative net margin of 17.38%. Cohu’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS. Sell-side analysts expect that Cohu, Inc. will post -0.36 earnings per share for the current fiscal year.

About Cohu

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.