Bank of New York Mellon Corp Sells 191,471 Shares of Cohu, Inc. (NASDAQ:COHU)

Bank of New York Mellon Corp decreased 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 disclosure with the Securities and Exchange Commission. The institutional investor 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 about 1.58% of Cohu worth $10,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Cohu by 1,225.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,392 shares of the semiconductor company's stock worth $37,000 after buying an additional 1,287 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Cohu by 826.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,483 shares of the semiconductor company's stock valued at $40,000 after purchasing an additional 1,323 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Cohu by 232.0% in the first quarter. Versant Capital Management Inc now owns 2,417 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 1,689 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Cohu by 172.2% in the first quarter. GAMMA Investing LLC now owns 2,659 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 1,682 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Cohu by 14.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,842 shares of the semiconductor company's stock valued at $103,000 after purchasing an additional 486 shares in the last quarter. Institutional investors and hedge funds own 94.67% of the company's stock.

Wall Street Analysts Forecast Growth

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

Cohu Trading Down 2.9%

COHU stock traded down $0.57 during midday trading on Thursday, reaching $18.97. The company's stock had a trading volume of 298,772 shares, compared to its average volume of 263,040. Cohu, Inc. has a 52 week low of $12.57 and a 52 week high of $32.69. The stock has a market cap of $882.11 million, a PE ratio of -10.25 and a beta of 1.27. The company has a quick ratio of 3.69, a current ratio of 5.20 and a debt-to-equity ratio of 0.01. The business's 50-day simple moving average is $18.83 and its 200-day simple moving average is $18.83.

Cohu (NASDAQ:COHU - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The semiconductor company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.14. The company had revenue of $96.80 million for the quarter, compared to analysts' expectations of $96.61 million. Cohu had a negative net margin of 21.99% and a negative return on equity of 3.76%. The business's quarterly revenue was down 10.0% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. As a group, sell-side analysts expect that Cohu, Inc. will post -0.36 EPS for the current 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.