Cohu (NASDAQ:COHU) Trading Up 5.1% on Analyst Upgrade

Cohu, Inc. (NASDAQ:COHU)’s share price shot up 5.1% during mid-day trading on Wednesday after Stifel Nicolaus raised their price target on the stock from $32.00 to $34.00. Stifel Nicolaus currently has a buy rating on the stock. Cohu traded as high as $30.55 and last traded at $30.3650. 245,389 shares were traded during trading, a decline of 70% from the average session volume of 831,384 shares. The stock had previously closed at $28.88.

Several other brokerages have also weighed in on COHU. Needham & Company LLC increased their price objective on shares of Cohu from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 13th. B. Riley Financial reduced their target price on shares of Cohu from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 13th. Evercore started coverage on shares of Cohu in a research note on Monday. They issued an “outperform” rating and a $35.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a research report on Wednesday, January 21st. Finally, TD Cowen boosted their price objective on Cohu from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.00.

Insider Activity

In other news, SVP Christopher Bohrson sold 1,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $28.57, for a total value of $28,570.00. Following the completion of the sale, the senior vice president owned 176,202 shares of the company’s stock, valued at approximately $5,034,091.14. The trade was a 0.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.86% of the company’s stock.

Institutional Trading of Cohu

Several hedge funds and other institutional investors have recently bought and sold shares of COHU. Tudor Investment Corp ET AL bought a new stake in Cohu in the 3rd quarter valued at about $243,960,000. Vanguard Group Inc. raised its position in shares of Cohu by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,361,164 shares of the semiconductor company’s stock valued at $101,484,000 after buying an additional 57,618 shares in the last quarter. Royce & Associates LP raised its position in shares of Cohu by 0.4% in the fourth quarter. Royce & Associates LP now owns 1,918,424 shares of the semiconductor company’s stock valued at $44,642,000 after buying an additional 7,927 shares in the last quarter. State Street Corp boosted its stake in shares of Cohu by 0.3% in the fourth quarter. State Street Corp now owns 1,819,530 shares of the semiconductor company’s stock valued at $42,340,000 after buying an additional 5,439 shares during the period. Finally, Tributary Capital Management LLC boosted its stake in shares of Cohu by 131.5% in the third quarter. Tributary Capital Management LLC now owns 1,520,386 shares of the semiconductor company’s stock valued at $30,909,000 after buying an additional 863,654 shares during the period. Institutional investors and hedge funds own 94.67% of the company’s stock.

Cohu Stock Up 5.5%

The stock has a 50-day moving average of $29.46 and a 200-day moving average of $25.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.88 and a quick ratio of 5.69. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -19.16 and a beta of 1.27.

Cohu (NASDAQ:COHU) last announced its quarterly earnings data on Thursday, February 12th. The semiconductor company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.22). The company had revenue of $122.23 million during the quarter, compared to analyst estimates of $122.09 million. Cohu had a negative net margin of 16.40% and a negative return on equity of 3.76%. Cohu’s revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. Sell-side analysts predict that Cohu, Inc. will post -0.36 EPS for the current fiscal year.

About Cohu

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.