Cohu (NASDAQ:COHU) Stock Price Target Lowered at B. Riley Financial

Key Points

• B. Riley cut its Cohu price target to $60 from $75 but maintained a Buy rating; the revised target implies 43.94% upside from the prior close.
• Analyst sentiment remains broadly positive: Cohu has a “Moderate Buy” consensus rating and a $72.50 average price target.
• Cohu beat quarterly estimates, reporting EPS of $0.43 versus $0.35 expected and revenue of $172.96 million, up 37% year over year.

Cohu (NASDAQ:COHU - Get Free Report) had its target price reduced by equities research analysts at B. Riley Financial from $75.00 to $60.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. B. Riley Financial's price target indicates a potential upside of 43.94% from the company's previous close.

Several other analysts also recently commented on the company. Robert W. Baird set a $83.00 target price on Cohu in a research note on Thursday, October 29th. Stifel Nicolaus raised their price objective on Cohu from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. Jefferies Financial Group reaffirmed a "buy" rating and set a $90.00 target price on shares of Cohu in a research report on Thursday, October 29th. Wall Street Zen raised Cohu from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Craig Hallum reiterated a "buy" rating and issued a $74.00 target price on shares of Cohu in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cohu currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.50.

Cohu Stock Up 8.3%

Cohu stock opened at $41.68 on Monday. The company has a quick ratio of 4.24, a current ratio of 5.16 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.97 billion, a PE ratio of -80.05 and a beta of 1.60. The firm's fifty day moving average is $56.11 and its 200 day moving average is $47.31. Cohu has a 12-month low of $21.10 and a 12-month high of $75.72.

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

Insider Activity at Cohu

In related news, SVP Christopher Bohrson sold 10,000 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $55.82, for a total transaction of $558,200.00. Following the completion of the sale, the senior vice president owned 159,702 shares in the company, valued at approximately $8,914,565.64. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Luis A. Muller sold 55,794 shares of the company's stock in a transaction on Monday, September 21st. The stock was sold at an average price of $60.00, for a total value of $3,347,640.00. Following the sale, the chief executive officer owned 871,825 shares of the company's stock, valued at $52,309,500. This trade represents a 6.01% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders have sold 116,692 shares of company stock worth $7,374,716. 3.05% of the stock is owned by insiders.

Institutional Trading of Cohu

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Cohu during the second quarter valued at about $545,932,000. The Manufacturers Life Insurance Company purchased a new stake in Cohu during the second quarter worth about $77,814,000. Segall Bryant & Hamill LLC raised its position in Cohu by 125.5% in the first quarter. Segall Bryant & Hamill LLC now owns 955,344 shares of the semiconductor company's stock worth $29,253,000 after acquiring an additional 531,661 shares during the period. Emerald Advisers LLC bought a new stake in Cohu in the first quarter worth about $23,887,000. Finally, Paradigm Capital Management Inc. NY purchased a new position in Cohu in the second quarter valued at about $42,794,000. Hedge funds and other institutional investors 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.

Founded in 1947, Cohu has expanded its semiconductor equipment business through organic development and acquisitions.

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