Cohu (NASDAQ:COHU) Shares Gap Up on Earnings Beat

Cohu, Inc. (NASDAQ:COHU - Get Free Report) shares gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $16.07, but opened at $17.12. Cohu shares last traded at $16.81, with a volume of 43,767 shares traded.

The semiconductor company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.14. Cohu had a negative net margin of 17.38% and a negative return on equity of 3.18%. The business had revenue of $96.80 million for the quarter, compared to analyst estimates of $96.61 million. During the same quarter last year, the firm earned $0.01 EPS. Cohu's quarterly revenue was down 10.0% compared to the same quarter last year.

Analysts Set New Price Targets

Several research analysts have weighed in on COHU shares. B. Riley reduced their target price on Cohu from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, February 14th. TD Cowen dropped their price target on Cohu from $27.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of Cohu in a research report on Friday. Finally, Stifel Nicolaus lowered their target price on Cohu from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $28.43.

Institutional Investors Weigh In On Cohu

Several institutional investors have recently bought and sold shares of COHU. Versant Capital Management Inc raised its holdings in shares of Cohu by 232.0% in the first quarter. Versant Capital Management Inc now owns 2,417 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 1,689 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Cohu by 1,225.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,392 shares of the semiconductor company's stock valued at $37,000 after buying an additional 1,287 shares during the last quarter. GAMMA Investing LLC lifted its position in Cohu by 172.2% during the 1st quarter. GAMMA Investing LLC now owns 2,659 shares of the semiconductor company's stock worth $39,000 after buying an additional 1,682 shares in the last quarter. Sterling Capital Management LLC lifted its position in Cohu by 826.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,483 shares of the semiconductor company's stock worth $40,000 after buying an additional 1,323 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Cohu by 413.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,740 shares of the semiconductor company's stock worth $46,000 after buying an additional 1,401 shares during the last quarter. Institutional investors own 94.67% of the company's stock.

Cohu Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.69 and a current ratio of 6.38. The company has a fifty day moving average price of $16.04 and a two-hundred day moving average price of $21.94. The company has a market cap of $776.75 million, a P/E ratio of -11.13 and a beta of 1.39.

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.