Bank of New York Mellon Corp Has $26.50 Million Stock Position in Cohu, Inc. $COHU

Bank of New York Mellon Corp lowered its stake in Cohu, Inc. (NASDAQ:COHU) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 865,624 shares of the semiconductor company’s stock after selling 12,218 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.84% of Cohu worth $26,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cohu by 3.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,214 shares of the semiconductor company’s stock worth $400,000 after acquiring an additional 905 shares in the last quarter. Caxton Associates LLP acquired a new stake in Cohu during the 1st quarter valued at $276,000. Jane Street Group LLC raised its stake in Cohu by 2,042.7% during the 1st quarter. Jane Street Group LLC now owns 162,674 shares of the semiconductor company’s stock valued at $2,393,000 after purchasing an additional 155,082 shares during the period. American Century Companies Inc. lifted its holdings in shares of Cohu by 4.9% in the second quarter. American Century Companies Inc. now owns 114,361 shares of the semiconductor company’s stock valued at $2,200,000 after purchasing an additional 5,297 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Cohu by 478.4% in the second quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company’s stock valued at $22,612,000 after purchasing an additional 972,088 shares in the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.

Cohu Stock Performance

Shares of NASDAQ COHU opened at $47.81 on Tuesday. 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 one year low of $17.80 and a one year high of $74.60. The business’s 50-day moving average price is $56.78 and its two-hundred day moving average price is $42.05. The company has a market capitalization of $2.26 billion, a P/E ratio of -40.18 and a beta of 1.55.

Cohu (NASDAQ:COHU) last posted its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Cohu had a negative return on equity of 3.50% and a negative net margin of 11.54%.The firm had revenue of $125.12 million for the quarter, compared to analysts’ expectations of $122.14 million. During the same period last year, the business earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. Analysts anticipate that Cohu, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cohu news, CEO Luis A. Muller sold 45,154 shares of the company’s stock in a transaction that occurred 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 owned 927,619 shares of the company’s stock, valued at $43,245,597.78. This represents a 4.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Christopher Bohrson sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $63.88, for a total value of $63,880.00. Following the sale, the senior vice president directly owned 171,702 shares of the company’s stock, valued at $10,968,323.76. The trade was a 0.58% decrease in their position. 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 ninety days, insiders have sold 89,668 shares of company stock valued at $4,210,016. 3.05% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on COHU shares. Jefferies Financial Group set a $60.00 price target on Cohu and gave the company a “buy” rating in a report on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a research report on Friday, July 17th. Needham & Company LLC lifted their target price on Cohu from $33.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Evercore reiterated an “outperform” rating and issued a $53.00 target price on shares of Cohu in a report on Tuesday, April 28th. Finally, Zacks Research raised shares of Cohu from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.86.

Cohu Company 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.