Cohu (NASDAQ:COHU) Sets New 12-Month High – Here’s What Happened

Cohu, Inc. (NASDAQ:COHU)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $38.43 and last traded at $38.11, with a volume of 33081 shares changing hands. The stock had previously closed at $37.62.

Analyst Upgrades and Downgrades

COHU has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a research report on Wednesday, January 21st. TD Cowen raised their price objective on shares of Cohu from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Needham & Company LLC raised 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. Stifel Nicolaus raised their price objective on Cohu from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, Evercore began coverage on Cohu in a research note on Monday, March 16th. They set an “outperform” rating and a $35.00 price objective for the company. Five analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cohu currently has an average rating of “Hold” and a consensus target price of $34.00.

Cohu Stock Performance

The firm’s fifty day simple moving average is $31.18 and its 200 day simple moving average is $26.65. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -24.50 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.88 and a quick ratio of 5.69.

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

Insider Activity at Cohu

In other Cohu news, SVP Christopher Bohrson sold 1,000 shares of the firm’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 transaction, the senior vice president directly owned 176,202 shares in the company, valued at $5,034,091.14. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.05% of the stock is currently owned by insiders.

Institutional Trading of Cohu

Hedge funds and other institutional investors have recently modified their holdings of the business. Kestra Advisory Services LLC acquired a new stake in shares of Cohu in the fourth quarter worth $34,000. Farther Finance Advisors LLC boosted its position in shares of Cohu by 45.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company’s stock worth $34,000 after buying an additional 452 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Cohu in the fourth quarter worth $37,000. Bessemer Group Inc. boosted its position in shares of Cohu by 45.4% in the third quarter. Bessemer Group Inc. now owns 1,564 shares of the semiconductor company’s stock worth $31,000 after buying an additional 488 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Cohu by 83.7% during 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 period. Institutional investors and hedge funds own 94.67% of the company’s stock.

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.