Atom Investors LP Purchases Shares of 400,439 Cohu, Inc. $COHU

Key Points

• Atom Investors LP disclosed a new fourth-quarter stake in Cohu, buying 400,439 shares valued at about $9.3 million. The position makes Cohu its 20th-largest holding and represents about 0.86% of Cohu.
• Insider selling was notable, with Director Steven J. Bilodeau and CFO Jeffrey D. Jones both selling shares in May. Over the last three months, insiders sold 90,668 shares worth about $4.25 million.
• Cohu reported mixed quarterly results, missing earnings expectations with $0.01 EPS versus estimates of $0.03, but revenue rose 29.3% year over year to $125.12 million. Analysts remain moderately bullish overall, with a consensus rating of Moderate Buy and an average price target of $52.33.

Atom Investors LP purchased a new stake in Cohu, Inc. (NASDAQ:COHU - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 400,439 shares of the semiconductor company's stock, valued at approximately $9,318,000. Cohu accounts for approximately 0.7% of Atom Investors LP's holdings, making the stock its 20th largest holding. Atom Investors LP owned approximately 0.86% of Cohu as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Cohu by 45.0% in the 4th 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 period. Kestra Advisory Services LLC purchased a new position in Cohu in the 4th quarter valued at approximately $34,000. Los Angeles Capital Management LLC purchased a new position in Cohu in the 4th quarter valued at approximately $37,000. Smartleaf Asset Management LLC boosted its position in Cohu by 202.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,113 shares of the semiconductor company's stock valued at $41,000 after buying an additional 1,415 shares during the period. Finally, Gen Wealth Partners Inc purchased a new position in Cohu in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 94.67% of the company's stock.

Insider Activity

In related news, Director Steven J. Bilodeau sold 10,257 shares of Cohu stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $44.85, for a total transaction of $460,026.45. Following the sale, the director directly owned 52,272 shares in the company, valued at $2,344,399.20. This trade represents a 16.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey D. Jones sold 13,000 shares of Cohu stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $46.84, for a total transaction of $608,920.00. Following the sale, the chief financial officer owned 343,792 shares in the company, valued at $16,103,217.28. This represents a 3.64% decrease in their ownership of the stock. 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. Insiders sold 90,668 shares of company stock worth $4,248,016 over the last three months. Company insiders own 3.05% of the company's stock.

Cohu Price Performance

Shares of COHU opened at $62.41 on Wednesday. Cohu, Inc. has a twelve month low of $17.71 and a twelve month high of $69.63. The firm's fifty day simple moving average is $47.65 and its 200-day simple moving average is $34.88. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -52.44 and a beta of 1.62. The company has a current ratio of 6.43, a quick ratio of 5.31 and a debt-to-equity ratio of 0.37.

Cohu (NASDAQ:COHU - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.02). Cohu had a negative net margin of 11.54% and a negative return on equity of 3.50%. The firm had revenue of $125.12 million during the quarter, compared to analyst estimates of $122.14 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. Cohu's revenue for the quarter was up 29.3% compared to the same quarter last year. Equities analysts forecast that Cohu, Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on COHU shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Cohu in a research report on Monday, April 20th. Needham & Company LLC raised their price target on shares of Cohu from $33.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, May 1st. TD Cowen raised their price objective on shares of Cohu from $60.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday. Zacks Research upgraded shares of Cohu from a "strong sell" rating to a "hold" rating in a report on Monday, April 20th. Finally, B. Riley Financial restated a "buy" rating on shares of Cohu in a report on Monday, April 20th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cohu currently has an average rating of "Moderate Buy" and a consensus price target of $52.33.

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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