Cohu (NASDAQ:COHU) Stock Price Down 6.3% on Insider Selling

Key Points

• Cohu shares fell 6.3% to about $55.51 after SVP Christopher Bohrson sold 1,000 shares for $61,900. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• Analysts remain broadly positive, with a consensus “Buy” rating and a $68.75 price target. Recent firms raised targets as high as $80, while two analysts rate the stock a Strong Buy.
• Cohu reported stronger-than-expected quarterly results, including $0.26 EPS versus the $0.14 consensus and $149 million in revenue, up 38.3% year over year. Institutional investors own 94.67% of the company’s shares.

Cohu, Inc. (NASDAQ:COHU - Get Free Report)'s stock price was down 6.3% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $54.00 and last traded at $55.5050. 269,676 shares were traded during trading, a decline of 76% from the average daily volume of 1,133,605 shares. The stock had previously closed at $59.22.

Specifically, SVP Christopher Bohrson sold 1,000 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $61.90, for a total value of $61,900.00. Following the transaction, the senior vice president owned 169,702 shares of the company's stock, valued at approximately $10,504,553.80. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. TD Cowen boosted their price target on shares of Cohu from $60.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Stifel Nicolaus raised their price objective on shares of Cohu from $50.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Craig Hallum reiterated a "buy" rating and set a $74.00 target price on shares of Cohu in a research report on Friday, July 31st. Robert W. Baird started coverage on Cohu in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $65.00 price target on the stock. Finally, Evercore restated an "outperform" rating and issued a $53.00 price target on shares of Cohu in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $68.75.

Cohu Trading Down 6.3%

The business has a 50 day simple moving average of $57.03 and a 200-day simple moving average of $44.72. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -66.82 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.74 and a quick ratio of 4.72.

Cohu (NASDAQ:COHU - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.12. Cohu had a negative return on equity of 1.96% and a negative net margin of 7.43%.The business had revenue of $149.00 million for the quarter, compared to analysts' expectations of $144.20 million. During the same quarter in the previous year, the business posted $0.02 EPS. Cohu's revenue for the quarter was up 38.3% on a year-over-year basis. As a group, equities analysts expect that Cohu, Inc. will post 0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cohu by 3.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,214 shares of the semiconductor company's stock valued at $400,000 after acquiring an additional 905 shares in the last quarter. Caxton Associates LLP bought a new position in Cohu during the 1st quarter worth about $276,000. Jane Street Group LLC raised its stake in shares of Cohu by 2,042.7% in the 1st quarter. Jane Street Group LLC now owns 162,674 shares of the semiconductor company's stock valued at $2,393,000 after purchasing an additional 155,082 shares during the period. American Century Companies Inc. raised its stake in shares of Cohu by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 114,361 shares of the semiconductor company's stock valued at $2,200,000 after purchasing an additional 5,297 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Cohu by 478.4% in the second quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company's stock valued at $22,612,000 after purchasing an additional 972,088 shares in the last quarter. Institutional investors and hedge funds 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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