Engineers Gate Manager LP Invests $1.84 Million in Cohu, Inc. $COHU

Key Points

• Engineers Gate Manager LP acquired 24,877 Cohu shares worth approximately $1.84 million during the second quarter, giving it about a 0.05% stake. Institutional investors collectively own 94.67% of the semiconductor equipment maker.
• Cohu reported stronger-than-expected quarterly results, with EPS of $0.26 versus the $0.14 consensus and revenue of $149 million. Revenue increased 38.3% year over year, although the company posted a negative net margin.
• Wall Street maintains a generally positive view, with a consensus “Moderate Buy” rating and a $68.75 price target. Meanwhile, insiders sold 29,307 shares worth roughly $1.57 million over the past 90 days.

Engineers Gate Manager LP acquired a new position in Cohu, Inc. (NASDAQ:COHU - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 24,877 shares of the semiconductor company's stock, valued at approximately $1,839,000. Engineers Gate Manager LP owned approximately 0.05% of Cohu as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Nykredit A S purchased a new position in Cohu during the second quarter worth about $36,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Cohu in the 2nd quarter valued at about $48,000. Allworth Financial LP purchased a new stake in shares of Cohu in the 2nd quarter valued at about $65,000. Hollencrest Capital Management bought a new stake in shares of Cohu during the 1st quarter valued at about $31,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Cohu during the 2nd quarter valued at about $79,000. Institutional investors own 94.67% of the company's stock.

Cohu Price Performance

COHU opened at $49.97 on Wednesday. The company has a current ratio of 5.74, a quick ratio of 4.72 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $2.37 billion, a P/E ratio of -60.20 and a beta of 1.58. The stock has a 50-day moving average price of $51.98 and a 200-day moving average price of $47.61. Cohu, Inc. has a 12-month low of $18.67 and a 12-month high of $74.60.

Cohu (NASDAQ:COHU - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.12. The company had revenue of $149.00 million for the quarter, compared to analysts' expectations 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 for the quarter was up 38.3% compared to the same quarter last year. During the same period last year, the firm posted $0.02 EPS. Equities analysts predict that Cohu, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Cohu

In other news, SVP Christopher Bohrson sold 10,000 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $55.82, for a total value of $558,200.00. Following the completion of the sale, the senior vice president owned 159,702 shares of the company's stock, valued at approximately $8,914,565.64. This represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Andrew M. Caggia sold 15,252 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $51.74, for a total transaction of $789,138.48. Following the transaction, the director directly owned 64,778 shares in the company, valued at approximately $3,351,613.72. This represents a 19.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,307 shares of company stock worth $1,566,693 over the last ninety days. Insiders own 3.05% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COHU. Jefferies Financial Group reissued a "buy" rating and set a $74.00 price objective on shares of Cohu in a report on Friday, July 31st. Zacks Research lowered shares of Cohu from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 28th. Stifel Nicolaus boosted their price target on shares of Cohu from $50.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. B. Riley Financial boosted their price target on shares of Cohu from $65.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, TD Cowen increased their price target on shares of Cohu from $60.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $68.75.

About Cohu

Cohu, Inc is a semiconductor test and inspection equipment company that develops products used throughout the semiconductor manufacturing process. Its portfolio includes semiconductor test handlers, test contactors, inspection and metrology systems, thermal-management solutions, and software for managing and analyzing test data.

The company's equipment helps semiconductor manufacturers and outsourced semiconductor assembly and test providers handle, connect, test, inspect, and characterize packaged semiconductor devices.

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