Cohu, Inc. $COHU Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Cohu by 1.3% in the fourth quarter, bringing its holdings to 4.36 million shares worth about $101.5 million. Vanguard now owns roughly 9.34% of the semiconductor company.
• Wall Street sentiment on Cohu remains constructive, with several analysts raising price targets and the stock carrying a consensus Moderate Buy rating. The average target price is $49.00, with recent bullish targets as high as $54.00.
• Cohu reported quarterly earnings of $0.01 per share, missing estimates, while revenue of $125.12 million beat expectations and rose 29.3% year over year. Shares were trading near $49.16, close to the stock’s 52-week high of $52.43.

Vanguard Group Inc. grew its position in Cohu, Inc. (NASDAQ:COHU - Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,361,164 shares of the semiconductor company's stock after purchasing an additional 57,618 shares during the period. Vanguard Group Inc. owned approximately 9.34% of Cohu worth $101,484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of 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 purchasing an additional 452 shares in the last quarter. Stanley Laman Group Ltd. lifted its stake in shares of Cohu by 27.8% in the 4th quarter. Stanley Laman Group Ltd. now owns 195,536 shares of the semiconductor company's stock valued at $4,550,000 after purchasing an additional 42,593 shares in the last quarter. Moody National Bank Trust Division acquired a new position in shares of Cohu in the 4th quarter valued at about $520,000. SG Americas Securities LLC lifted its stake in shares of Cohu by 43.2% in the 4th quarter. SG Americas Securities LLC now owns 44,529 shares of the semiconductor company's stock valued at $1,036,000 after purchasing an additional 13,444 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Cohu by 11.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,935 shares of the semiconductor company's stock valued at $441,000 after purchasing an additional 1,942 shares in the last quarter. 94.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on COHU. Needham & Company LLC lifted their price objective on Cohu from $33.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Stifel Nicolaus lifted their price objective on Cohu from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, March 18th. Zacks Research raised Cohu from a "strong sell" rating to a "hold" rating in a research note on Monday, April 20th. B. Riley Financial reaffirmed a "buy" rating on shares of Cohu in a research note on Monday, April 20th. Finally, Evercore reaffirmed an "outperform" rating and issued a $53.00 price objective on shares of Cohu in a research note on Tuesday, April 28th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cohu currently has an average rating of "Moderate Buy" and a consensus target price of $49.00.

Cohu Stock Performance

Cohu stock opened at $49.16 on Thursday. The stock's 50 day moving average price is $36.70 and its 200 day moving average price is $29.90. The firm has a market capitalization of $2.32 billion, a PE ratio of -41.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.31 and a current ratio of 6.43. Cohu, Inc. has a one year low of $16.46 and a one year high of $52.43.

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

Insider Buying and Selling

In related news, SVP Christopher Bohrson sold 1,500 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $51.28, for a total transaction of $76,920.00. Following the transaction, the senior vice president directly owned 173,702 shares of the company's stock, valued at approximately $8,907,438.56. The trade was a 0.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 3,500 shares of company stock worth $143,490. Insiders own 3.05% of the company's stock.

About Cohu

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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