335,946 Cohu, Inc. $COHU Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Cohu stake by 6,968.4% in the third quarter, buying 335,946 additional shares and bringing its holdings to 340,767 shares worth approximately $23.2 million.
• Institutional investors own 94.67% of Cohu, while insiders sold 134,999 shares valued at $8.32 million over the past quarter, including transactions conducted under Rule 10b5-1 plans.
• Cohu reported quarterly revenue of $149 million and earnings of $0.26 per share, exceeding analyst estimates; analysts maintain a “Moderate Buy” consensus with an average price target of $68.75.

Assenagon Asset Management S.A. grew its holdings in Cohu, Inc. (NASDAQ:COHU - Free Report) by 6,968.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 340,767 shares of the semiconductor company's stock after purchasing an additional 335,946 shares during the quarter. Assenagon Asset Management S.A. owned about 0.72% of Cohu worth $23,220,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Nykredit A S bought a new position in Cohu in the 2nd quarter worth approximately $36,000. CoreCap Advisors LLC grew its stake in shares of Cohu by 150.0% in the third quarter. CoreCap Advisors LLC now owns 500 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 300 shares during the last quarter. Fortitude Family Office LLC grew its stake in shares of Cohu by 147.9% in the third quarter. Fortitude Family Office LLC now owns 528 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 315 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Cohu during the second quarter worth $48,000. Finally, Allworth Financial LP acquired a new position in Cohu during the 2nd quarter valued at $65,000. Institutional investors and hedge funds own 94.67% of the company's stock.

Insiders Place Their Bets

In other Cohu news, Director Andrew Caggia sold 15,252 shares of Cohu stock in a transaction on 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. The trade was a 19.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Christopher Bohrson sold 1,000 shares of the business's stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $55.31, for a total value of $55,310.00. Following the completion of the transaction, the insider directly owned 157,702 shares in the company, valued at approximately $8,722,497.62. This represents a 0.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders sold 134,999 shares of company stock valued at $8,321,309. Company insiders own 3.05% of the company's stock.

Cohu Stock Performance

Shares of Cohu stock opened at $50.81 on Monday. The stock has a market capitalization of $2.41 billion, a P/E ratio of -61.22 and a beta of 1.51. The company has a quick ratio of 4.72, a current ratio of 5.74 and a debt-to-equity ratio of 0.37. The company has a 50-day simple moving average of $57.87 and a 200 day simple moving average of $53.21. Cohu, Inc. has a 12-month low of $21.10 and a 12-month high of $75.72.

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

Wall Street Analysts Forecast Growth

COHU has been the topic of several research reports. Needham & Company LLC boosted their price target on Cohu from $54.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Zacks Research lowered Cohu from a "strong-buy" rating to a "hold" rating in a report on Friday, August 28th. Stifel Nicolaus upped their target price on Cohu from $50.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Jefferies Financial Group restated a "buy" rating and issued a $74.00 target price on shares of Cohu in a research note on Friday, July 31st. Finally, Craig Hallum reaffirmed a "buy" rating and issued a $74.00 target price on shares of Cohu in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.75.

Cohu Company Profile

Cohu, Inc provides semiconductor test and inspection equipment, consumables and related services used by semiconductor manufacturers and outsourced semiconductor assembly and test providers. Its solutions support the testing and handling of integrated circuits throughout the manufacturing process, helping customers evaluate device performance, reliability and quality.

The company's product portfolio includes semiconductor test handlers, inspection and metrology systems, thermal-management equipment, test contactors and other interface products.

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