Cohu (NASDAQ:COHU) Shares Gap Up Following Strong Earnings

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 changing hands.

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 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 business earned $0.01 earnings per share. The company's revenue for the quarter was down 10.0% compared to the same quarter last year.

Analyst Ratings Changes

Several analysts recently commented on the company. StockNews.com upgraded Cohu from a "sell" rating to a "hold" rating in a research report on Monday. Needham & Company LLC restated a "hold" rating on shares of Cohu in a research report on Friday, May 2nd. Stifel Nicolaus cut their price objective on shares of Cohu from $35.00 to $28.00 and set a "buy" rating for the company in a report on Friday, May 2nd. B. Riley cut their price target on Cohu from $34.00 to $30.00 and set a "buy" rating for the company in a report on Friday, February 14th. Finally, TD Cowen cut their target price on Cohu from $27.00 to $22.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Cohu presently has an average rating of "Hold" and a consensus price target of $28.43.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Cohu by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 926,322 shares of the semiconductor company's stock valued at $24,733,000 after buying an additional 19,236 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cohu by 8.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 677,370 shares of the semiconductor company's stock valued at $18,086,000 after buying an additional 53,096 shares in the last quarter. Principal Financial Group Inc. lifted its position in Cohu by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 226,031 shares of the semiconductor company's stock valued at $6,035,000 after acquiring an additional 4,920 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Cohu during the 4th quarter valued at $288,000. Finally, Proficio Capital Partners LLC purchased a new position in Cohu during the fourth quarter worth $903,000. Institutional investors and hedge funds own 94.67% of the company's stock.

Cohu Trading Down 1.3 %

The stock has a market cap of $717.04 million, a PE ratio of -10.27 and a beta of 1.22. 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 business has a 50-day moving average of $15.88 and a 200 day moving average of $21.84.

About Cohu

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.