Cohu (NASDAQ:COHU) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Cohu, Inc. (NASDAQ:COHU)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $25.42 and traded as high as $31.78. Cohu shares last traded at $30.23, with a volume of 556,159 shares changing hands.

Analyst Ratings Changes

A number of analysts recently weighed in on COHU shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a research report on Wednesday, January 21st. Needham & Company LLC increased their price target 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. Zacks Research downgraded shares of Cohu from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. B. Riley Financial lowered their price objective 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, Evercore started coverage on shares of Cohu in a research note on Monday, March 16th. They issued an “outperform” rating and a $35.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $34.00.

Cohu Stock Down 5.3%

The company has a current ratio of 6.88, a quick ratio of 5.69 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $29.83 and a 200 day simple moving average of $25.42. The firm has a market capitalization of $1.42 billion, a PE ratio of -19.01 and a beta of 1.27.

Cohu (NASDAQ:COHU) last released its quarterly earnings data on Thursday, February 12th. The semiconductor company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.22). Cohu had a negative net margin of 16.40% and a negative return on equity of 3.76%. The company had revenue of $122.23 million for the quarter, compared to analysts’ expectations of $122.09 million. During the same period last year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Cohu, Inc. will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In other Cohu news, SVP Christopher Bohrson sold 1,000 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $28.57, for a total value of $28,570.00. Following the sale, the senior vice president owned 176,202 shares of the company’s stock, valued at $5,034,091.14. This trade represents a 0.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.86% of the stock is owned by insiders.

Institutional Trading of Cohu

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 purchasing an additional 905 shares during the last quarter. Caxton Associates LLP bought a new position in Cohu during the 1st quarter valued at approximately $276,000. Jane Street Group LLC raised its position 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 last quarter. PNC Financial Services Group Inc. lifted its holdings in Cohu by 5.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 12,755 shares of the semiconductor company’s stock worth $245,000 after buying an additional 704 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Cohu by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,167,208 shares of the semiconductor company’s stock worth $22,459,000 after buying an additional 50,907 shares during the period. 94.67% of the stock is currently owned by hedge funds and other institutional investors.

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.