Cohu, Inc. $COHU Holdings Decreased by Bank of Nova Scotia

Bank of Nova Scotia reduced its stake in Cohu, Inc. (NASDAQ:COHU) by 31.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,208 shares of the semiconductor company’s stock after selling 120,030 shares during the period. Bank of Nova Scotia owned 0.55% of Cohu worth $7,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of COHU. Stanley Laman Group Ltd. increased its position in shares of Cohu by 27.8% in the fourth quarter. Stanley Laman Group Ltd. now owns 195,536 shares of the semiconductor company’s stock worth $4,550,000 after acquiring an additional 42,593 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Cohu in the 1st quarter worth about $705,000. Vanguard Group Inc. raised its position in Cohu by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,361,164 shares of the semiconductor company’s stock valued at $101,484,000 after acquiring an additional 57,618 shares in the last quarter. Mizuho Markets Americas LLC raised its position in Cohu by 349.3% in the fourth quarter. Mizuho Markets Americas LLC now owns 302,838 shares of the semiconductor company’s stock worth $7,047,000 after purchasing an additional 235,438 shares in the last quarter. Finally, Leeward Investments LLC MA lifted its position in shares of Cohu by 4.0% during the 1st quarter. Leeward Investments LLC MA now owns 646,133 shares of the semiconductor company’s stock worth $19,785,000 after buying an additional 24,755 shares during the period. Institutional investors and hedge funds own 94.67% of the company’s stock.

Cohu Price Performance

Shares of COHU opened at $50.70 on Monday. The firm has a market capitalization of $2.39 billion, a PE ratio of -42.60 and a beta of 1.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.43 and a quick ratio of 5.31. Cohu, Inc. has a fifty-two week low of $17.80 and a fifty-two week high of $74.60. The company’s 50-day moving average is $56.71 and its 200-day moving average is $41.90.

Cohu (NASDAQ:COHU) last issued its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Cohu had a negative net margin of 11.54% and a negative return on equity of 3.50%. The firm had revenue of $125.12 million during the quarter, compared to analyst estimates of $122.14 million. During the same period in the prior year, the company earned ($0.02) earnings per share. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. Equities analysts forecast that Cohu, Inc. will post 0.17 EPS for the current year.

Insider Activity

In related news, CEO Luis A. Muller sold 45,154 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $46.62, for a total transaction of $2,105,079.48. Following the completion of the sale, the chief executive officer directly owned 927,619 shares in the company, valued at $43,245,597.78. This represents a 4.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director James A. Donahue sold 10,257 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $46.77, for a total value of $479,719.89. Following the sale, the director owned 3,578 shares in the company, valued at $167,343.06. This represents a 74.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 89,668 shares of company stock valued at $4,210,016. Corporate insiders own 3.05% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on COHU. Needham & Company LLC raised their price objective on shares of Cohu from $33.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cohu in a research note on Friday, July 17th. Stifel Nicolaus lifted their price objective on Cohu from $50.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. TD Cowen increased their target price on shares of Cohu from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Finally, Evercore reiterated an “outperform” rating and set a $53.00 price objective on shares of Cohu in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Cohu currently has an average rating of “Moderate Buy” and a consensus target price of $63.86.

Cohu Profile

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.