Envestnet Asset Management Inc. Buys 32,941 Shares of Cohu, Inc. $COHU

Envestnet Asset Management Inc. grew its stake in shares of Cohu, Inc. (NASDAQ:COHU) by 20.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 196,810 shares of the semiconductor company’s stock after acquiring an additional 32,941 shares during the quarter. Envestnet Asset Management Inc. owned about 0.42% of Cohu worth $4,001,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its holdings in Cohu by 83.7% in the third quarter. Hantz Financial Services Inc. now owns 1,569 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 715 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Cohu by 202.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,113 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 1,415 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Cohu by 135.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,526 shares of the semiconductor company’s stock worth $87,000 after buying an additional 2,607 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Cohu by 664.1% in the second quarter. Federated Hermes Inc. now owns 6,548 shares of the semiconductor company’s stock worth $126,000 after acquiring an additional 5,691 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Cohu during the second quarter valued at $135,000. 94.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COHU. Zacks Research cut Cohu from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cohu in a research note on Wednesday, January 21st. TD Cowen raised their price objective on shares of Cohu from $30.00 to $35.00 and gave the stock a “buy” rating in a 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. Finally, Stifel Nicolaus lifted their price target on shares of Cohu from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cohu has a consensus rating of “Hold” and an average price target of $33.25.

Cohu Trading Down 3.6%

Cohu stock opened at $30.41 on Tuesday. The firm has a 50 day moving average of $27.67 and a 200 day moving average of $23.93. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -19.13 and a beta of 1.29. Cohu, Inc. has a 12-month low of $12.57 and a 12-month high of $34.96. The company has a current ratio of 6.88, a quick ratio of 5.69 and a debt-to-equity ratio of 0.36.

Cohu (NASDAQ:COHU) last issued its quarterly earnings results 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 firm had revenue of $122.23 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.15) EPS. As a group, research analysts predict that Cohu, Inc. will post -0.36 earnings per share for the current year.

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.