Amundi Sells 24,459 Shares of Cohu, Inc. $COHU

Key Points

• Amundi reduced its Cohu position by 66.4% in the second quarter, selling 24,459 shares and retaining 12,385 shares valued at approximately $915,000.
• Institutional investors own 94.67% of Cohu, while several smaller funds recently initiated or increased positions, indicating continued institutional interest despite Amundi’s reduction.
• Analysts maintain a consensus “Moderate Buy” rating with a $68.75 price target. Cohu recently beat quarterly earnings and revenue expectations, reporting $0.26 EPS and $149 million in revenue, up 38.3% year over year.

Amundi cut its holdings in shares of Cohu, Inc. (NASDAQ:COHU - Free Report) by 66.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,385 shares of the semiconductor company's stock after selling 24,459 shares during the quarter. Amundi's holdings in Cohu were worth $915,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hollencrest Capital Management purchased a new stake in Cohu during the first quarter valued at about $31,000. Nykredit A S purchased a new stake in Cohu in the 2nd quarter worth approximately $36,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Cohu during the second quarter valued at $48,000. Global Retirement Partners LLC boosted its position in shares of Cohu by 1,254.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,465 shares of the semiconductor company's stock valued at $57,000 after acquiring an additional 2,283 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in Cohu in the 2nd quarter worth approximately $65,000. Institutional investors own 94.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on COHU shares. Needham & Company LLC upped their price objective on Cohu from $54.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Craig Hallum reaffirmed a "buy" rating and set a $74.00 price objective on shares of Cohu in a research note on Friday, July 31st. B. Riley Financial raised their price target on Cohu from $65.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cohu in a research report on Friday, July 17th. Finally, Zacks Research downgraded shares of Cohu from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.75.

Cohu Stock Performance

COHU opened at $49.97 on Tuesday. Cohu, Inc. has a 1-year low of $18.67 and a 1-year high of $74.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.74 and a quick ratio of 4.72. The firm has a market cap of $2.37 billion, a P/E ratio of -60.20 and a beta of 1.58. The company has a 50 day simple moving average of $52.00 and a two-hundred day simple moving average of $47.47.

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 (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.12. The firm had revenue of $149.00 million for the quarter, compared to analysts' expectations of $144.20 million. Cohu had a negative net margin of 7.43% and a negative return on equity of 1.96%. The company's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 earnings per share. Equities analysts forecast that Cohu, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Christopher Bohrson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $55.82, for a total value of $558,200.00. Following the transaction, the senior vice president owned 159,702 shares of the company's stock, valued at $8,914,565.64. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Andrew M. Caggia sold 15,252 shares of the 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 transaction, the director directly owned 64,778 shares in the company, valued at $3,351,613.72. The trade was a 19.06% 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. In the last ninety days, insiders sold 29,307 shares of company stock valued at $1,566,693. Company insiders own 3.05% of the company's stock.

About Cohu

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.