Cohu (NASDAQ:COHU) Reaches New 12-Month High - Here's What Happened

Key Points

• Shares of Cohu reached a new 52-week high of $47.60 on Monday, last trading around $46.60 with roughly 9,500 shares changing hands.
• Analysts are mostly positive (six Buys, one Hold, one Sell) giving a consensus rating of Moderate Buy, but the consensus price target is $37.50, significantly below current levels.
• Cohu's latest quarter missed EPS (‑$0.15 vs. $0.07 expected) and showed a negative net margin (‑16.4%) and ROE, even as revenue rose 29.9% year‑over‑year.

Shares of Cohu, Inc. (NASDAQ:COHU - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $47.60 and last traded at $46.6030, with a volume of 9500 shares changing hands. The stock had previously closed at $46.93.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Cohu in a research report on Monday, April 20th. Needham & Company LLC raised their price target on 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 target on Cohu from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, March 18th. Evercore started coverage on Cohu in a research report on Monday, March 16th. They issued an "outperform" rating and a $35.00 price target for the company. Finally, B. Riley Financial reiterated a "buy" rating on shares of Cohu in a research report on Monday, April 20th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.50.

Cohu Stock Down 3.6%

The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.69 and a current ratio of 6.88. The company has a market cap of $2.13 billion, a PE ratio of -28.45 and a beta of 1.24. The firm has a fifty day simple moving average of $32.90 and a 200 day simple moving average of $27.88.

Cohu (NASDAQ:COHU - Get Free Report) last posted its quarterly 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). The business had revenue of $122.23 million during the quarter, compared to analysts' expectations of $122.09 million. Cohu had a negative net margin of 16.40% and a negative return on equity of 3.76%. The firm's quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) EPS. Equities research analysts predict that Cohu, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling

In other Cohu news, SVP Christopher Bohrson sold 1,000 shares of Cohu stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $38.00, for a total value of $38,000.00. Following the completion of the sale, the senior vice president owned 175,202 shares in the company, valued at $6,657,676. The trade was a 0.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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. 3.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cohu

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Cohu by 2.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 16,231 shares of the semiconductor company's stock valued at $378,000 after purchasing an additional 332 shares in the last quarter. Sheets Smith Wealth Management lifted its stake in shares of Cohu by 3.0% in the 1st quarter. Sheets Smith Wealth Management now owns 14,644 shares of the semiconductor company's stock valued at $448,000 after purchasing an additional 420 shares in the last quarter. US Bancorp DE lifted its stake in shares of Cohu by 4.6% in the 3rd quarter. US Bancorp DE now owns 9,847 shares of the semiconductor company's stock valued at $200,000 after purchasing an additional 432 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Cohu by 45.0% in the 4th 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 in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Cohu by 3.4% in the 3rd quarter. Amalgamated Bank now owns 13,712 shares of the semiconductor company's stock valued at $279,000 after purchasing an additional 457 shares in the last quarter. 94.67% of the stock is owned by institutional investors and hedge funds.

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.

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