Cohu, Inc. $COHU Shares Sold by Comerica Bank

Key Points

• Comerica Bank cut its stake in Cohu by 49.7% in the fourth quarter, selling 39,086 shares and ending with 39,486 shares valued at about $919,000.
• Cohu’s latest earnings showed mixed results: EPS came in below estimates at $0.01 versus $0.03 expected, while revenue of $125.12 million beat forecasts and rose 29.3% year over year.
• Wall Street sentiment is generally positive, with six Buy ratings and an average target price of $49.00; the stock also recently traded near its 52-week high of $50.68.

Comerica Bank lowered its stake in shares of Cohu, Inc. (NASDAQ:COHU - Free Report) by 49.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,486 shares of the semiconductor company's stock after selling 39,086 shares during the quarter. Comerica Bank owned about 0.08% of Cohu worth $919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tudor Investment Corp ET AL acquired a new position in shares of Cohu during the 3rd quarter valued at about $243,960,000. Vanguard Group Inc. increased its stake in shares of Cohu by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,361,164 shares of the semiconductor company's stock valued at $101,484,000 after acquiring an additional 57,618 shares during the last quarter. Royce & Associates LP increased its stake in shares of Cohu by 4.7% during the 3rd quarter. Royce & Associates LP now owns 1,910,497 shares of the semiconductor company's stock valued at $38,840,000 after acquiring an additional 85,662 shares during the last quarter. Invesco Ltd. increased its stake in shares of Cohu by 478.4% during the 2nd quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company's stock valued at $22,612,000 after acquiring an additional 972,088 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Cohu by 111.1% during the 3rd quarter. Millennium Management LLC now owns 354,684 shares of the semiconductor company's stock valued at $7,211,000 after acquiring an additional 186,632 shares during the last quarter. Institutional investors and hedge funds own 94.67% of the company's stock.

Cohu Price Performance

COHU opened at $49.54 on Monday. 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 1 year low of $16.17 and a 1 year high of $50.68. The firm has a 50 day moving average price of $35.18 and a 200 day moving average price of $29.13. The company has a market cap of $2.34 billion, a PE ratio of -41.63 and a beta of 1.61.

Cohu (NASDAQ:COHU - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $122.14 million. During the same period last year, the business earned ($0.02) EPS. The firm's revenue was up 29.3% compared to the same quarter last year. Sell-side analysts expect that Cohu, Inc. will post 0.17 earnings per share for the current year.

Insider Transactions at Cohu

In other Cohu news, SVP Christopher Bohrson sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $38.00, for a total value of $38,000.00. Following the completion of the sale, the senior vice president owned 175,202 shares of the company's stock, valued at $6,657,676. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on COHU shares. Stifel Nicolaus increased their target price on shares of Cohu from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, March 18th. Needham & Company LLC increased their target price on shares of Cohu from $33.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. TD Cowen increased their target price on shares of Cohu from $35.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Cohu in a research report on Monday, April 20th. Finally, B. Riley Financial reissued a "buy" rating on shares of Cohu in a research report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $49.00.

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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