Cohu, Inc. $COHU Shares Bought by Caxton Associates LLP

Key Points

• Caxton Associates LLP increased its stake in Cohu by 183.4% in the first quarter, buying 32,721 additional shares and bringing its total to 50,565 shares valued at about $1.55 million.
• Cohu reported quarterly earnings of $0.01 per share, missing estimates, though revenue of $125.12 million beat expectations and rose 29.3% from a year earlier.
• Analyst sentiment has turned more positive, with several firms raising price targets and the stock carrying a Moderate Buy consensus target price of $63.86.

Caxton Associates LLP raised its stake in Cohu, Inc. (NASDAQ:COHU - Free Report) by 183.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 50,565 shares of the semiconductor company's stock after purchasing an additional 32,721 shares during the period. Caxton Associates LLP owned 0.11% of Cohu worth $1,548,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Stanley Laman Group Ltd. grew its stake in Cohu by 27.8% in the fourth quarter. Stanley Laman Group Ltd. now owns 195,536 shares of the semiconductor company's stock worth $4,550,000 after purchasing an additional 42,593 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Cohu during the first quarter valued at approximately $705,000. Vanguard Group Inc. lifted its holdings in Cohu by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,361,164 shares of the semiconductor company's stock worth $101,484,000 after buying an additional 57,618 shares during the last quarter. Mizuho Markets Americas LLC grew its position in shares of Cohu by 349.3% in the 4th quarter. Mizuho Markets Americas LLC now owns 302,838 shares of the semiconductor company's stock worth $7,047,000 after acquiring an additional 235,438 shares in the last quarter. Finally, Leeward Investments LLC MA grew its position in shares of Cohu by 4.0% in the 1st quarter. Leeward Investments LLC MA now owns 646,133 shares of the semiconductor company's stock worth $19,785,000 after acquiring an additional 24,755 shares in the last quarter. Institutional investors and hedge funds own 94.67% of the company's stock.

Cohu Stock Performance

COHU stock opened at $50.70 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.31 and a current ratio of 6.43. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -42.60 and a beta of 1.55. Cohu, Inc. has a 1 year low of $17.80 and a 1 year high of $74.60. The stock's fifty day moving average is $56.71 and its two-hundred day moving average is $41.78.

Cohu (NASDAQ:COHU - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $122.14 million. During the same period last year, the firm posted ($0.02) EPS. The business's revenue was up 29.3% compared to the same quarter last year. On average, research analysts predict that Cohu, Inc. will post 0.17 EPS for the current year.

Analyst Ratings Changes

COHU has been the topic of several research analyst reports. Zacks Research upgraded Cohu from a "strong sell" rating to a "hold" rating in a research note on Monday, April 20th. Stifel Nicolaus boosted their target price on shares of Cohu from $50.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, July 10th. TD Cowen increased their target price on shares of Cohu from $60.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, June 16th. Evercore reaffirmed an "outperform" rating and set a $53.00 price objective on shares of Cohu in a research report on Tuesday, April 28th. Finally, B. Riley Financial increased their price objective on shares of Cohu from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $63.86.

Insider Activity

In other news, Director William Bendush sold 7,500 shares of Cohu stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $49.14, for a total transaction of $368,550.00. Following the sale, the director owned 24,780 shares of the company's stock, valued at approximately $1,217,689.20. The trade was a 23.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James A. Donahue sold 10,257 shares of Cohu stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $46.77, for a total value of $479,719.89. Following the sale, the director directly owned 3,578 shares in the company, valued at approximately $167,343.06. This trade represents a 74.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 89,668 shares of company stock worth $4,210,016 over the last three months. Insiders own 3.05% of the company's stock.

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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