Cohu (NASDAQ:COHU) Rating Increased to Strong-Buy at Robert W. Baird

Robert W. Baird upgraded shares of Cohu (NASDAQ:COHU) to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

A number of other equities research analysts have also commented on the company. Zacks Research raised Cohu from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. B. Riley Financial restated a “buy” rating on shares of Cohu in a report on Monday, April 20th. Evercore reaffirmed an “outperform” rating and issued a $53.00 price target on shares of Cohu in a research note on Tuesday, April 28th. Jefferies Financial Group set a $60.00 price target on shares of Cohu and gave the company a “buy” rating in a report on Friday, May 1st. Finally, TD Cowen raised their price objective on shares of Cohu from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.14.

Cohu Trading Up 5.8%

COHU opened at $55.14 on Wednesday. The firm’s fifty day moving average is $55.56 and its two-hundred day moving average is $39.58. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.31 and a current ratio of 6.43. The firm has a market cap of $2.60 billion, a PE ratio of -46.34 and a beta of 1.55. Cohu has a twelve month low of $17.80 and a twelve month high of $74.60.

Cohu (NASDAQ:COHU) last announced its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the firm earned ($0.02) EPS. Cohu’s quarterly revenue was up 29.3% on a year-over-year basis. Equities research analysts anticipate that Cohu will post 0.17 EPS for the current year.

Insider Buying and Selling

In related news, Director Steven J. Bilodeau sold 10,257 shares of Cohu stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $44.85, for a total value of $460,026.45. Following the sale, the director owned 52,272 shares of the company’s stock, valued at approximately $2,344,399.20. The trade was a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey D. Jones sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $46.84, for a total value of $608,920.00. Following the transaction, the chief financial officer directly owned 343,792 shares in the company, valued at approximately $16,103,217.28. This trade represents a 3.64% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 90,668 shares of company stock worth $4,248,016 over the last three months. Company insiders own 3.05% of the company’s stock.

Institutional Investors Weigh In On Cohu

A number of large investors have recently added to or reduced their stakes in COHU. Hollencrest Capital Management acquired a new stake in Cohu during the 1st quarter valued at $31,000. Farther Finance Advisors LLC raised 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 valued at $34,000 after purchasing an additional 452 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Cohu in the fourth quarter valued at about $34,000. Los Angeles Capital Management LLC acquired a new stake in shares of Cohu during the 4th quarter worth about $37,000. Finally, Smartleaf Asset Management LLC lifted its stake 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 worth $41,000 after buying an additional 1,415 shares during the last quarter. Institutional investors own 94.67% of the company’s stock.

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.