Cohu (NASDAQ:COHU) Sets New 12-Month High - Time to Buy?

Key Points

• Cohu shares hit a new 52-week high, trading as high as $49.45 (last $48.78) on volume of 344,728, with the 50-day and 200-day moving averages at $34.12 and $28.57 respectively.
• Analysts are broadly positive: six Buys, one Hold and one Sell give a consensus rating of Moderate Buy with an average target of $49.00 (TD Cowen raised its target to $60).
• Recent results were mixed—Cohu reported Q1 EPS of $0.01, missing estimates by $0.02, while revenue rose 29.3% YoY; the company shows negative net margin (-11.54%) and ROE (-3.50%) but strong liquidity (quick ratio 5.31, current ratio 6.43) and 94.67% institutional ownership.

Cohu, Inc. (NASDAQ:COHU - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $49.45 and last traded at $48.7760, with a volume of 344728 shares. The stock had previously closed at $46.69.

Analyst Ratings Changes

A number of research firms have commented on COHU. Zacks Research raised Cohu from a "strong sell" rating to a "hold" rating in a research 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. TD Cowen boosted their price objective on shares of Cohu from $35.00 to $60.00 and gave the company a "buy" rating in a research report on Friday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cohu in a research report on Monday, April 20th. Finally, B. Riley Financial restated a "buy" rating on shares of Cohu in a report on Monday, April 20th. Six investment 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $49.00.

Cohu Stock Performance

The company has a quick ratio of 5.31, a current ratio of 6.43 and a debt-to-equity ratio of 0.37. The company has a market cap of $2.27 billion, a PE ratio of -40.51 and a beta of 1.61. The business's fifty day moving average is $34.12 and its 200-day moving average is $28.57.

Cohu (NASDAQ:COHU - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $125.12 million for the quarter, compared to the consensus estimate of $122.14 million. During the same period in the previous year, the firm earned ($0.02) EPS. The company's revenue was up 29.3% on a year-over-year basis. As a group, research analysts predict that Cohu, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at Cohu

In other Cohu news, SVP Christopher Bohrson sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00. Following the sale, the senior vice president owned 175,202 shares in the company, valued at approximately $6,657,676. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Corporate insiders own 3.05% of the company's stock.

Hedge Funds Weigh In On Cohu

Several hedge funds have recently bought and sold shares of COHU. Essex Investment Management Co. LLC grew its position in shares of Cohu by 31.4% in the third quarter. Essex Investment Management Co. LLC now owns 192,846 shares of the semiconductor company's stock valued at $3,921,000 after purchasing an additional 46,113 shares during the period. Stanley Laman Group Ltd. increased its position in shares of Cohu by 27.8% during the fourth quarter. Stanley Laman Group Ltd. now owns 195,536 shares of the semiconductor company's stock valued at $4,550,000 after acquiring an additional 42,593 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Cohu by 20.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 248,146 shares of the semiconductor company's stock worth $5,045,000 after acquiring an additional 42,819 shares during the last quarter. Dean Capital Management lifted its stake in Cohu by 41.5% during the third quarter. Dean Capital Management now owns 127,324 shares of the semiconductor company's stock worth $2,588,000 after purchasing an additional 37,345 shares in the last quarter. Finally, First National Bank of Omaha acquired a new stake in shares of Cohu in the third quarter valued at $484,000. Institutional investors own 94.67% of the company's stock.

Cohu Company Profile

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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