Cohu (NASDAQ:COHU) Shares Gap Down - Here's What Happened

Cohu, Inc. (NASDAQ:COHU - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $20.52, but opened at $19.72. Cohu shares last traded at $20.25, with a volume of 13,192 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on COHU shares. Needham & Company LLC reissued a "hold" rating on shares of Cohu in a research report on Friday, May 2nd. Wall Street Zen cut Cohu from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. TD Cowen cut their price target on Cohu from $27.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Stifel Nicolaus cut their price target on Cohu from $35.00 to $28.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.43.

Cohu Trading Up 0.7%

The company has a debt-to-equity ratio of 0.01, a current ratio of 5.20 and a quick ratio of 3.69. The firm has a market capitalization of $957.90 million, a PE ratio of -11.14 and a beta of 1.27. The company has a fifty day moving average of $18.29 and a 200-day moving average of $19.27.

Cohu (NASDAQ:COHU - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.14. Cohu had a negative return on equity of 3.76% and a negative net margin of 21.99%. The company had revenue of $96.80 million for the quarter, compared to the consensus estimate of $96.61 million. During the same period last year, the business posted $0.01 earnings per share. The firm's revenue was down 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Cohu, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cohu

Hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its holdings in shares of Cohu by 413.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,740 shares of the semiconductor company's stock valued at $46,000 after purchasing an additional 1,401 shares during the period. Charles Schwab Investment Management Inc. raised its position in Cohu by 8.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,370 shares of the semiconductor company's stock worth $18,086,000 after purchasing an additional 53,096 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Cohu during the 4th quarter valued at about $903,000. Amundi boosted its stake in Cohu by 174.5% during the fourth quarter. Amundi now owns 22,675 shares of the semiconductor company's stock worth $598,000 after acquiring an additional 14,415 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in Cohu by 54.7% during the fourth quarter. Natixis Advisors LLC now owns 22,761 shares of the semiconductor company's stock valued at $608,000 after purchasing an additional 8,047 shares during the period. 94.67% of the stock is currently owned by institutional investors and hedge funds.

Cohu Company Profile

Cohu, Inc, through its subsidiaries, provides semiconductor test equipment and services in China, the United States, Taiwan, Malaysia, the Philippines, and internationally. The company supplies semiconductor test and inspection handlers, micro-electromechanical system (MEMS) test modules, test contactors, thermal sub-systems, and semiconductor automated test equipment for semiconductor manufacturers and test subcontractors.