Cohu, Inc. $COHU Stock Position Cut by Algert Global LLC

Key Points

• Algert Global reduced its Cohu stake by 13.8% in the second quarter, selling 38,052 shares and retaining 237,018 shares worth approximately $17.5 million. Institutional investors collectively own 94.67% of the company.
• Cohu reported stronger-than-expected quarterly results, with earnings of $0.26 per share versus the $0.14 consensus estimate and revenue of $149 million, up 38.3% year over year.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and $68.75 target price, although insiders sold 30,307 shares worth about $1.63 million over the past 90 days.

Algert Global LLC decreased its stake in shares of Cohu, Inc. (NASDAQ:COHU - Free Report) by 13.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 237,018 shares of the semiconductor company's stock after selling 38,052 shares during the period. Algert Global LLC owned approximately 0.50% of Cohu worth $17,518,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in shares of Cohu during the first quarter valued at approximately $705,000. Vanguard Group Inc. lifted its position in Cohu by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,361,164 shares of the semiconductor company's stock worth $101,484,000 after purchasing an additional 57,618 shares during the period. Mizuho Markets Americas LLC lifted its position in Cohu by 349.3% in the fourth quarter. Mizuho Markets Americas LLC now owns 302,838 shares of the semiconductor company's stock worth $7,047,000 after purchasing an additional 235,438 shares during the period. Louisiana State Employees Retirement System bought a new position in Cohu during the 1st quarter valued at $634,000. Finally, Leeward Investments LLC MA boosted its stake in Cohu by 4.0% during the 1st quarter. Leeward Investments LLC MA now owns 646,133 shares of the semiconductor company's stock valued at $19,785,000 after purchasing 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

Shares of NASDAQ COHU opened at $51.30 on Tuesday. The stock's fifty day simple moving average is $56.56 and its 200 day simple moving average is $45.41. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -61.81 and a beta of 1.59. The company has a quick ratio of 4.72, a current ratio of 5.74 and a debt-to-equity ratio of 0.37. Cohu, Inc. has a 52-week low of $18.67 and a 52-week high of $74.60.

Cohu (NASDAQ:COHU - Get Free Report) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.14 by $0.12. The business had revenue of $149.00 million during the quarter, compared to the consensus estimate of $144.20 million. Cohu had a negative return on equity of 1.96% and a negative net margin of 7.43%.Cohu's revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.02 earnings per share. As a group, sell-side analysts forecast that Cohu, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Activity at Cohu

In related news, Director Andrew M. Caggia sold 15,252 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $3,351,613.72. This trade represents a 19.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher Bohrson sold 10,000 shares of Cohu stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $55.82, for a total transaction of $558,200.00. Following the transaction, the senior vice president owned 159,702 shares in the company, valued at approximately $8,914,565.64. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 30,307 shares of company stock worth $1,630,573. 3.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Craig Hallum reaffirmed a "buy" rating and set a $74.00 target price on shares of Cohu in a research note on Friday, July 31st. Evercore reissued an "outperform" rating and issued a $53.00 price target on shares of Cohu in a report on Tuesday, April 28th. Jefferies Financial Group restated a "buy" rating and set a $74.00 price objective on shares of Cohu in a research report on Friday, July 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cohu in a research note on Friday, July 17th. Finally, TD Cowen boosted 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. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $68.75.

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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