Cohu, Inc. (NASDAQ:COHU) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Cohu holds a “Moderate Buy” consensus rating from 10 brokerages, with seven buy ratings, one strong buy, one hold and one sell; the average 12-month price target is $68.75.
• Cohu’s latest quarterly results exceeded expectations, reporting $0.26 EPS versus $0.14 expected and $149 million in revenue, up 38.3% year over year.
• The stock rose 2.4% to $56.30, while institutional investors own 94.67% of shares; insiders sold 29,307 shares worth approximately $1.57 million during the latest quarter.

Shares of Cohu, Inc. (NASDAQ:COHU - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $68.75.

Several research firms recently issued reports on COHU. Craig Hallum reaffirmed a "buy" rating and issued a $74.00 price objective on shares of Cohu in a research report on Friday, July 31st. Jefferies Financial Group reaffirmed a "buy" rating and set a $74.00 price objective on shares of Cohu in a research report on Friday, July 31st. Robert W. Baird started coverage on Cohu in a report on Wednesday, July 8th. They issued an "outperform" rating and a $65.00 price objective for the company. Zacks Research downgraded shares of Cohu from a "strong-buy" rating to a "hold" rating in a report on Friday, August 28th. Finally, B. Riley Financial raised their target price on shares of Cohu from $65.00 to $69.00 and gave the stock a "buy" rating in a report on Friday, July 31st.

Insiders Place Their Bets

In related news, Director Andrew M. Caggia sold 15,252 shares of Cohu stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $789,138.48. Following the completion of the transaction, the director owned 64,778 shares in the company, valued at approximately $3,351,613.72. This trade represents a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher Bohrson sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $55.82, for a total transaction of $558,200.00. Following the completion of the sale, the senior vice president directly owned 159,702 shares of the company's stock, valued at approximately $8,914,565.64. The trade was a 5.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 29,307 shares of company stock worth $1,566,693. Corporate insiders own 3.05% of the company's stock.

Hedge Funds Weigh In On Cohu

Institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new position in shares of Cohu in the 2nd quarter valued at $1,224,000. WINTON GROUP Ltd purchased a new stake in shares of Cohu during the 2nd quarter worth $244,000. Engineers Gate Manager LP bought a new stake in Cohu during the second quarter valued at about $1,839,000. Integrated Wealth Concepts LLC purchased a new position in Cohu in the second quarter valued at about $143,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Cohu during the second quarter valued at about $1,665,000. Hedge funds and other institutional investors own 94.67% of the company's stock.

Cohu Trading Up 2.4%

COHU stock traded up $1.30 during trading on Friday, hitting $56.30. 126,670 shares of the company traded hands, compared to its average volume of 1,112,410. The firm has a market capitalization of $2.67 billion, a PE ratio of -67.90 and a beta of 1.58. Cohu has a 1 year low of $18.67 and a 1 year high of $74.60. The company has a 50-day moving average of $51.96 and a 200-day moving average of $47.92. The company has a debt-to-equity ratio of 0.37, a quick ratio of 4.72 and a current ratio of 5.74.

Cohu (NASDAQ:COHU - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $149.00 million for the quarter, compared to analyst estimates of $144.20 million. During the same period last year, the company earned $0.02 EPS. The business's quarterly revenue was up 38.3% compared to the same quarter last year. Analysts predict that Cohu will post 0.47 earnings per share for the current fiscal year.

Cohu Company Profile

Cohu, Inc is a semiconductor test and inspection equipment company that develops products used throughout the semiconductor manufacturing process. Its portfolio includes semiconductor test handlers, test contactors, inspection and metrology systems, thermal-management solutions, and software for managing and analyzing test data.

The company's equipment helps semiconductor manufacturers and outsourced semiconductor assembly and test providers handle, connect, test, inspect, and characterize packaged semiconductor devices.

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