82,352 Shares in Cohu, Inc. $COHU Bought by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia acquired 82,352 Cohu shares worth approximately $6.1 million during the second quarter, giving it a 0.17% stake. Institutional investors collectively own 94.67% of the semiconductor equipment maker.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $68.75; recent targets range from $65 to $80.
• Cohu exceeded quarterly expectations with adjusted earnings of $0.26 per share versus $0.14 estimated, while revenue rose 38.3% year over year to $149 million. The stock opened at $50.61, down 1.3%.

Bank of Nova Scotia purchased a new stake in Cohu, Inc. (NASDAQ:COHU - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 82,352 shares of the semiconductor company's stock, valued at approximately $6,087,000. Bank of Nova Scotia owned 0.17% of Cohu at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hollencrest Capital Management acquired a new position in Cohu during the first quarter worth $31,000. Farther Finance Advisors LLC grew its holdings in shares of Cohu by 45.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company's stock valued at $34,000 after buying an additional 452 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Cohu during the fourth quarter worth about $34,000. Los Angeles Capital Management LLC bought a new stake in shares of Cohu during the fourth quarter worth about $37,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Cohu by 202.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,113 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 1,415 shares during the last quarter. Institutional investors own 94.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. B. Riley Financial lifted their price target on Cohu from $65.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of Cohu in a report on Friday, July 17th. Needham & Company LLC increased their price objective on Cohu from $54.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Stifel Nicolaus raised their target price on Cohu from $50.00 to $70.00 and gave the company a "buy" rating in a report on Friday, July 10th. Finally, TD Cowen lifted their target price on Cohu from $60.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $68.75.

Insider Transactions at Cohu

In other Cohu news, Director Andrew M. Caggia sold 15,252 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $51.74, for a total transaction of $789,138.48. Following the sale, the director directly owned 64,778 shares of the company's stock, valued at $3,351,613.72. This represents a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher Bohrson sold 10,000 shares of Cohu 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 transaction, the senior vice president owned 159,702 shares of the company's stock, valued at $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 90 days, insiders sold 30,307 shares of company stock worth $1,630,573. 3.05% of the stock is owned by company insiders.

Cohu Trading Down 1.3%

Shares of COHU stock opened at $50.61 on Wednesday. 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 firm has a market cap of $2.40 billion, a P/E ratio of -60.98 and a beta of 1.59. The company has a 50 day moving average of $56.33 and a 200-day moving average of $45.57. Cohu, Inc. has a 12-month low of $18.67 and a 12-month high of $74.60.

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

Cohu 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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