Cohu (NASDAQ:COHU) Stock Keeps Buy Rating at Needham & Company LLC

Key Points

• Needham reiterated its Buy rating on Cohu and set a $65 price target, implying about 41% upside from the price cited in the report.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $72.50, though ratings range from Strong Buy to Sell.
• Cohu beat quarterly earnings and revenue expectations, reporting $0.43 EPS versus $0.35 expected and $172.96 million in revenue; revenue rose 37% year over year.

Cohu (NASDAQ:COHU - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $65.00 target price on the semiconductor company's stock. Needham & Company LLC's price objective would indicate a potential upside of 41.40% from the company's current price.

Other research analysts have also recently issued research reports about the company. Craig Hallum reaffirmed a "buy" rating and set a $74.00 target price on shares of Cohu in a research note on Friday, July 31st. B. Riley Financial dropped their price target on shares of Cohu from $75.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday. Zacks Research downgraded shares of Cohu from a "strong-buy" rating to a "hold" rating in a report on Friday, August 28th. Wall Street Zen upgraded shares of Cohu from a "hold" rating to a "buy" rating in a research report on Saturday, November 7th. Finally, Jefferies Financial Group restated a "buy" rating and set a $90.00 price objective on shares of Cohu in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $72.50.

Cohu Stock Performance

COHU opened at $45.97 on Thursday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -88.40 and a beta of 1.60. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.16 and a quick ratio of 4.24. Cohu has a 1-year low of $21.10 and a 1-year high of $75.72. The business has a 50 day moving average price of $56.01 and a two-hundred day moving average price of $47.53.

Cohu (NASDAQ:COHU - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.08. Cohu had a positive return on equity of 1.47% and a negative net margin of 3.97%. The firm had revenue of $172.96 million during the quarter, compared to analyst estimates of $170.25 million. During the same period last year, the company posted ($0.06) EPS. The firm's quarterly revenue was up 37.0% on a year-over-year basis. Research analysts predict that Cohu will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling at Cohu

In other news, CEO Luis A. Muller sold 21,662 shares of the firm's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $73.00, for a total transaction of $1,581,326.00. Following the completion of the sale, the chief executive officer directly owned 822,927 shares of the company's stock, valued at $60,073,671. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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. Also, insider Christopher Bohrson sold 1,000 shares of Cohu stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $55.31, for a total value of $55,310.00. Following the completion of the transaction, the insider owned 157,702 shares in the company, valued at $8,722,497.62. The trade was a 0.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 three months, insiders have sold 116,692 shares of company stock valued at $7,374,716. Corporate insiders own 3.05% of the company's stock.

Institutional Trading of Cohu

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC lifted its stake in Cohu by 150.0% during the third quarter. CoreCap Advisors LLC now owns 500 shares of the semiconductor company's stock valued at $34,000 after buying an additional 300 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of Cohu by 147.9% during the third quarter. Fortitude Family Office LLC now owns 528 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 315 shares during the period. Parallel Advisors LLC raised its holdings in shares of Cohu by 17.7% during the third quarter. Parallel Advisors LLC now owns 2,510 shares of the semiconductor company's stock valued at $171,000 after acquiring an additional 378 shares during the period. Choreo LLC lifted its position in shares of Cohu by 12.0% in the 3rd quarter. Choreo LLC now owns 4,187 shares of the semiconductor company's stock valued at $285,000 after acquiring an additional 450 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Cohu by 109.8% in the 2nd quarter. Allworth Financial LP now owns 879 shares of the semiconductor company's stock valued at $65,000 after acquiring an additional 460 shares in the last quarter. Institutional investors and hedge funds own 94.67% of the company's stock.

Cohu Company Profile

Cohu, Inc. designs and manufactures equipment and components used to test, inspect, and handle semiconductors. Its products include semiconductor test handlers, inspection systems, test contactors, and thermal subsystems that support testing at various stages of chip production. The company serves semiconductor manufacturers and outsourced semiconductor assembly and test providers around the world. Its equipment is used across a range of semiconductor applications, including devices for automotive, industrial, communications, and consumer markets.

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