Cohu (NASDAQ:COHU) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Cohu (NASDAQ:COHU) from a "strong sell" to a "hold"; the analyst mix is five Buys, one Hold and one Sell, producing a consensus rating of "Moderate Buy" and a consensus price target of $34.00.
• Cohu reported quarterly EPS of ($0.15) versus consensus $0.07 (a miss) while revenue rose 29.9% year-over-year; shares trade around $44.88 with a 52-week range of $14.27–$46.63 and a market cap near $2.12 billion.
• SVP Christopher Bohrson sold 1,000 shares under a pre-arranged Rule 10b5‑1 plan to cover tax withholding, and institutional investors own roughly 94.7% of the company's stock.

Cohu (NASDAQ:COHU - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

COHU has been the subject of a number of other reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cohu in a report on Monday. B. Riley Financial reaffirmed a "buy" rating on shares of Cohu in a report on Monday. Evercore assumed coverage on Cohu in a report on Monday, March 16th. They issued an "outperform" rating and a $35.00 price target for the company. Stifel Nicolaus upped their price target on Cohu from $32.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Finally, TD Cowen upped their price target on Cohu from $30.00 to $35.00 and gave the company a "buy" rating in a report on Friday, February 13th. Five equities research 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

Cohu Stock Performance

Shares of Cohu stock opened at $44.88 on Monday. Cohu has a one year low of $14.27 and a one year high of $46.63. The company has a market cap of $2.12 billion, a PE ratio of -28.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.69 and a current ratio of 6.88. The business has a 50-day simple moving average of $32.10 and a 200-day simple moving average of $27.32.

Cohu (NASDAQ:COHU - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The semiconductor company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.22). Cohu had a negative return on equity of 3.76% and a negative net margin of 16.40%.The company had revenue of $122.23 million for the quarter, compared to analyst estimates of $122.09 million. During the same period in the prior year, the firm posted ($0.15) earnings per share. The business's quarterly revenue was up 29.9% compared to the same quarter last year. On average, equities research analysts forecast that Cohu will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at Cohu

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

Institutional Investors Weigh In On Cohu

Large investors have recently modified their holdings of the company. Tudor Investment Corp ET AL purchased a new stake in shares of Cohu during the third quarter worth approximately $243,960,000. Vanguard Group Inc. raised its stake in shares of Cohu by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,361,164 shares of the semiconductor company's stock worth $101,484,000 after purchasing an additional 57,618 shares during the last quarter. Royce & Associates LP raised its stake in shares of Cohu by 0.4% during the fourth quarter. Royce & Associates LP now owns 1,918,424 shares of the semiconductor company's stock worth $44,642,000 after purchasing an additional 7,927 shares during the last quarter. State Street Corp raised its stake in shares of Cohu by 0.3% during the fourth quarter. State Street Corp now owns 1,819,530 shares of the semiconductor company's stock worth $42,340,000 after purchasing an additional 5,439 shares during the last quarter. Finally, Tributary Capital Management LLC raised its stake in shares of Cohu by 131.5% during the third quarter. Tributary Capital Management LLC now owns 1,520,386 shares of the semiconductor company's stock worth $30,909,000 after purchasing an additional 863,654 shares during the last quarter. 94.67% of the stock is owned by institutional investors and hedge funds.

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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