Cohu, Inc. $COHU Stock: Leeward Investments LLC MA Decreases Holdings

Key Points

• Leeward Investments LLC MA reduced its Cohu stake by 72.2% in the third quarter, selling 381,339 shares and retaining 147,180 shares valued at approximately $10.0 million. Institutional investors collectively own 94.67% of the company.
• Cohu shares opened at $47.96, below their 50-day moving average of $57.47 and 200-day average of $53.89. The stock has traded between $21.10 and $75.72 over the past year.
• Cohu exceeded quarterly earnings expectations, reporting $0.26 EPS versus the $0.14 consensus and revenue of $149.0 million, up 38.3% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $68.75, while insiders sold 134,999 shares worth $8.32 million over the past three months.

Leeward Investments LLC MA cut its stake in shares of Cohu, Inc. (NASDAQ:COHU - Free Report) by 72.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,180 shares of the semiconductor company's stock after selling 381,339 shares during the quarter. Leeward Investments LLC MA owned approximately 0.31% of Cohu worth $10,029,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CoreCap Advisors LLC boosted its position in Cohu by 150.0% during the 3rd quarter. CoreCap Advisors LLC now owns 500 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 300 shares during the period. Fortitude Family Office LLC grew its stake in Cohu by 147.9% during the 3rd quarter. Fortitude Family Office LLC now owns 528 shares of the semiconductor company's stock worth $36,000 after buying an additional 315 shares during the last quarter. Allworth Financial LP increased its position in Cohu by 109.8% in the second quarter. Allworth Financial LP now owns 879 shares of the semiconductor company's stock worth $65,000 after buying an additional 460 shares during the period. Nykredit A S acquired a new stake in Cohu in the second quarter worth $36,000. Finally, GAMMA Investing LLC increased its position in Cohu by 8.3% in the third quarter. GAMMA Investing LLC now owns 8,366 shares of the semiconductor company's stock worth $570,000 after buying an additional 641 shares during the period. 94.67% of the stock is owned by institutional investors.

Cohu Price Performance

Shares of Cohu stock opened at $47.96 on Monday. The business's fifty day moving average price is $57.47 and its two-hundred day moving average price is $53.89. 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 company has a market capitalization of $2.27 billion, a P/E ratio of -57.78 and a beta of 1.51. Cohu, Inc. has a 1-year low of $21.10 and a 1-year high of $75.72.

Cohu (NASDAQ:COHU - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.12. The company had revenue of $149.00 million during the quarter, compared to analyst estimates of $144.20 million. Cohu had a negative return on equity of 1.96% and a negative net margin of 7.43%. The firm's quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS. As a group, research analysts forecast that Cohu, Inc. will post 0.43 EPS for the current year.

Analyst Ratings Changes

COHU has been the subject of several analyst reports. Robert W. Baird initiated coverage on shares of Cohu in a report on Wednesday, July 8th. They set an "outperform" rating and a $65.00 price target for the company. Needham & Company LLC increased their price objective on shares of Cohu from $54.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Jefferies Financial Group reaffirmed a "buy" rating and issued a $74.00 price objective on shares of Cohu in a report on Friday, July 31st. Stifel Nicolaus lifted their price objective on shares of Cohu from $50.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Finally, Craig Hallum reissued a "buy" rating and set a $74.00 target price on shares of Cohu in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cohu presently has an average rating of "Moderate Buy" and a consensus price target of $68.75.

Insider Activity at Cohu

In related news, Director Andrew Caggia sold 15,252 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $789,138.48. Following the completion of the transaction, the director owned 64,778 shares in the company, valued at $3,351,613.72. This represents a 19.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Christopher Bohrson sold 1,000 shares of the firm's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $55.31, for a total transaction of $55,310.00. Following the transaction, the insider directly owned 157,702 shares in the company, valued at approximately $8,722,497.62. The trade was a 0.63% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last three months, insiders sold 134,999 shares of company stock worth $8,321,309. 3.05% of the stock is owned by company insiders.

Cohu Company Profile

Cohu, Inc is a global provider of semiconductor test and inspection equipment and related services. The company supplies solutions used by semiconductor manufacturers and outsourced semiconductor assembly and test providers to evaluate devices during production, helping improve manufacturing quality, reliability and efficiency.

Cohu's product portfolio includes semiconductor test handlers, contactors and other interface products, inspection and metrology systems, thermal-management equipment, and software for test-data analysis and factory automation.

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