Cohu (NASDAQ:COHU) Sets New 52-Week High - Still a Buy?

Key Points

• Cohu shares hit a new 52-week high of $50.83 intraday, extending a recent rally and trading above both its 50-day and 200-day moving averages.
• Analyst sentiment is mostly positive, with six Buy ratings, one Hold, and one Sell; Needham recently raised its target to $54, while the consensus target price is $49.
• Recent results were mixed but improved year over year: Cohu posted $0.01 EPS, missing estimates, but revenue of $125.12 million topped expectations and rose 29.3% from a year earlier.

Cohu, Inc. (NASDAQ:COHU - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $50.83 and last traded at $50.3860, with a volume of 57561 shares changing hands. The stock had previously closed at $49.54.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COHU. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cohu in a report on Monday, April 20th. B. Riley Financial reaffirmed a "buy" rating on shares of Cohu in a report on Monday, April 20th. Evercore reaffirmed an "outperform" rating and set a $53.00 target price on shares of Cohu in a report on Tuesday, April 28th. Stifel Nicolaus lifted their target price on Cohu from $32.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Finally, Needham & Company LLC lifted their target price on Cohu from $33.00 to $54.00 and gave the company a "buy" rating in a report on Friday, May 1st. Six investment 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 data from MarketBeat.com, Cohu has an average rating of "Moderate Buy" and a consensus target price of $49.00.

Cohu Stock Up 2.5%

The company has a current ratio of 6.43, a quick ratio of 5.31 and a debt-to-equity ratio of 0.37. The firm has a market cap of $2.40 billion, a PE ratio of -42.59 and a beta of 1.61. The stock has a fifty day simple moving average of $35.18 and a two-hundred day simple moving average of $29.13.

Cohu (NASDAQ:COHU - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). Cohu had a negative return on equity of 3.50% and a negative net margin of 11.54%.The business had revenue of $125.12 million for the quarter, compared to analysts' expectations of $122.14 million. During the same period in the previous year, the firm posted ($0.02) EPS. The firm's revenue for the quarter was up 29.3% compared to the same quarter last year. As a group, sell-side analysts expect that Cohu, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity at Cohu

In other news, SVP Christopher Bohrson sold 1,000 shares of the business's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $38.00, for a total transaction of $38,000.00. Following the completion of the transaction, the senior vice president owned 175,202 shares of the company's stock, valued at approximately $6,657,676. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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. Insiders own 3.05% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of COHU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Cohu by 3.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,214 shares of the semiconductor company's stock worth $400,000 after purchasing an additional 905 shares in the last quarter. Caxton Associates LLP purchased a new stake in Cohu in the first quarter worth approximately $276,000. Jane Street Group LLC boosted its stake in Cohu by 2,042.7% in the first quarter. Jane Street Group LLC now owns 162,674 shares of the semiconductor company's stock worth $2,393,000 after buying an additional 155,082 shares in the last quarter. American Century Companies Inc. boosted its stake in Cohu by 4.9% in the second quarter. American Century Companies Inc. now owns 114,361 shares of the semiconductor company's stock worth $2,200,000 after buying an additional 5,297 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Cohu by 478.4% in the second quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company's stock worth $22,612,000 after buying an additional 972,088 shares in the last quarter. Hedge funds and other institutional investors own 94.67% of the company's stock.

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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