Cohu (NASDAQ:COHU) Reaches New 12-Month High - Still a Buy?

Key Points

• Cohu hit a new 52-week high, trading as high as $71.44 and last around $72.63, up about 5% on the day. The move came despite the stock already being well above its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but generally positive: Cohu has six Buy ratings, one Hold, and one Sell, with a consensus "Moderate Buy" rating. However, the average price target of $52.33 sits well below the current share price, even though TD Cowen recently raised its target to $80.
• The company’s latest earnings showed revenue growth but a small EPS miss. Quarterly revenue rose 29.3% year over year to $125.12 million, while EPS came in at $0.01 versus the $0.03 estimate; insiders also sold shares in recent months, including notable sales by two directors.

Cohu, Inc. (NASDAQ:COHU - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $71.44 and last traded at $72.6290, with a volume of 222215 shares traded. The stock had previously closed at $68.12.

Wall Street Analyst Weigh In

COHU has been the subject of a number of analyst reports. Evercore reiterated an "outperform" rating and issued a $53.00 price objective on shares of Cohu in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cohu in a research note on Monday, April 20th. TD Cowen increased their target price on Cohu from $60.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Zacks Research raised shares of Cohu from a "strong sell" rating to a "hold" rating in a report on Monday, April 20th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of Cohu in a report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cohu currently has an average rating of "Moderate Buy" and a consensus target price of $52.33.

Cohu Trading Up 5.0%

The company's 50 day moving average price is $53.15 and its two-hundred day moving average price is $37.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.43 and a quick ratio of 5.31. The stock has a market capitalization of $3.38 billion, a PE ratio of -60.13 and a beta of 1.62.

Cohu (NASDAQ:COHU - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $125.12 million for the quarter, compared to analysts' expectations of $122.14 million. Cohu had a negative net margin of 11.54% and a negative return on equity of 3.50%. The firm's revenue was up 29.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) EPS. As a group, analysts expect that Cohu, Inc. will post 0.17 earnings per share for the current year.

Insider Activity at Cohu

In other news, Director Steven J. Bilodeau sold 10,257 shares of Cohu stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $44.85, for a total transaction of $460,026.45. Following the transaction, the director owned 52,272 shares in the company, valued at $2,344,399.20. The trade was a 16.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James A. Donahue sold 10,257 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $46.77, for a total transaction of $479,719.89. Following the transaction, the director directly owned 3,578 shares in the company, valued at approximately $167,343.06. The trade was a 74.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 90,668 shares of company stock valued at $4,248,016 in the last three months. Company insiders own 3.05% of the company's stock.

Hedge Funds Weigh In On Cohu

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its position in Cohu by 2.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,231 shares of the semiconductor company's stock worth $378,000 after buying an additional 332 shares during the period. Sheets Smith Wealth Management increased its holdings 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 acquiring an additional 420 shares during the period. US Bancorp DE increased its holdings 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 acquiring an additional 432 shares during the period. Farther Finance Advisors LLC raised its position in 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 during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Cohu by 0.9% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 65,233 shares of the semiconductor company's stock worth $1,255,000 after purchasing an additional 576 shares during the period. 94.67% of the stock is currently 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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