Bank of New York Mellon Corp Cuts Stock Holdings in Cohu, Inc. (NASDAQ:COHU)

Bank of New York Mellon Corp reduced its position in shares of Cohu, Inc. (NASDAQ:COHU - Free Report) by 20.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 734,851 shares of the semiconductor company's stock after selling 191,471 shares during the period. Bank of New York Mellon Corp owned 1.58% of Cohu worth $10,810,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Lightrock Netherlands B.V. boosted its holdings in shares of Cohu by 36.3% during the 1st quarter. Lightrock Netherlands B.V. now owns 407,228 shares of the semiconductor company's stock worth $6,000,000 after buying an additional 108,471 shares during the period. Leeward Investments LLC MA boosted its holdings in Cohu by 60.9% in the 1st quarter. Leeward Investments LLC MA now owns 426,531 shares of the semiconductor company's stock valued at $6,274,000 after purchasing an additional 161,518 shares during the period. Principal Financial Group Inc. boosted its holdings in Cohu by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 232,111 shares of the semiconductor company's stock valued at $3,414,000 after purchasing an additional 6,080 shares during the period. Azarias Capital Management L.P. acquired a new position in shares of Cohu in the 1st quarter valued at $1,021,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Cohu by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,642 shares of the semiconductor company's stock valued at $377,000 after buying an additional 1,454 shares in the last quarter. 94.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COHU has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Cohu from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cohu in a research note on Friday, May 2nd. TD Cowen reduced their price objective on shares of Cohu from $27.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Stifel Nicolaus dropped their target price on shares of Cohu from $35.00 to $28.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Cohu has a consensus rating of "Hold" and an average target price of $27.17.

Cohu Price Performance

COHU traded down $0.40 on Thursday, hitting $19.14. 64,467 shares of the stock were exchanged, compared to its average volume of 468,135. Cohu, Inc. has a 12 month low of $12.57 and a 12 month high of $32.69. The business has a 50-day moving average of $18.80 and a two-hundred day moving average of $18.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.20 and a quick ratio of 3.69. The firm has a market capitalization of $889.82 million, a price-to-earnings ratio of -10.34 and a beta of 1.27.

Cohu (NASDAQ:COHU - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.14. Cohu had a negative return on equity of 3.76% and a negative net margin of 21.99%. The company had revenue of $96.80 million during the quarter, compared to the consensus estimate of $96.61 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The firm's revenue was down 10.0% compared to the same quarter last year. Sell-side analysts forecast that Cohu, Inc. will post -0.36 EPS for the current fiscal year.

Cohu Profile

Cohu, Inc, through its subsidiaries, provides semiconductor test equipment and services in China, the United States, Taiwan, Malaysia, the Philippines, and internationally. The company supplies semiconductor test and inspection handlers, micro-electromechanical system (MEMS) test modules, test contactors, thermal sub-systems, and semiconductor automated test equipment for semiconductor manufacturers and test subcontractors.