Cohu, Inc. (NASDAQ:COHU) Stock Holdings Trimmed by Legato Capital Management LLC

Key Points

• Legato Capital Management LLC has reduced its stake in Cohu, Inc. by 49.2%, now holding 22,265 shares worth $328,000.
• Other institutional investors, including Ameriprise Financial and Bank of America Corp DE, have increased their positions significantly, indicating ongoing interest in the semiconductor company.
• Cohu's recent earnings report showed a loss of ($0.02) per share, surpassing analysts' expectations, though the company's revenue was down 10% year-over-year.

Legato Capital Management LLC lowered its holdings in Cohu, Inc. (NASDAQ:COHU - Free Report) by 49.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,265 shares of the semiconductor company's stock after selling 21,559 shares during the period. Legato Capital Management LLC's holdings in Cohu were worth $328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in COHU. Versant Capital Management Inc grew its position 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in 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 valued at $37,000 after acquiring an additional 1,287 shares during the period. GAMMA Investing LLC grew its position in Cohu by 172.2% during the first quarter. GAMMA Investing LLC now owns 2,659 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 1,682 shares during the period. Sterling Capital Management LLC grew its position in Cohu by 826.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,483 shares of the semiconductor company's stock valued at $40,000 after acquiring an additional 1,323 shares during the period. Finally, Palouse Capital Management Inc. grew its position in Cohu by 105.5% during the first quarter. Palouse Capital Management Inc. now owns 4,918 shares of the semiconductor company's stock valued at $72,000 after acquiring an additional 2,525 shares during the period. Hedge funds and other institutional investors own 94.67% of the company's stock.

Cohu Stock Up 0.4%

Shares of NASDAQ COHU traded up $0.08 during midday trading on Friday, reaching $19.05. 305,514 shares of the company's stock were exchanged, compared to its average volume of 266,773. Cohu, Inc. has a 52-week low of $12.57 and a 52-week high of $32.69. The stock has a market capitalization of $885.83 million, a PE ratio of -10.30 and a beta of 1.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.69 and a current ratio of 5.20. The business's fifty day moving average price is $18.88 and its two-hundred day moving average price is $18.67.

Cohu (NASDAQ:COHU - Get Free Report) last announced its earnings results on Thursday, May 1st. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $96.80 million for the quarter, compared to analyst estimates of $96.61 million. During the same period in the previous year, the company earned $0.01 earnings per share. The company's revenue for the quarter was down 10.0% compared to the same quarter last year. Analysts forecast that Cohu, Inc. will post -0.36 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on COHU. Stifel Nicolaus lowered their price target on Cohu from $35.00 to $28.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wall Street Zen cut Cohu from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. TD Cowen reduced their price objective on Cohu from $27.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Needham & Company LLC restated a "hold" rating on shares of Cohu 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 issued a buy rating to the company's stock. Based on data from MarketBeat, Cohu has a consensus rating of "Hold" and an average target price of $27.17.

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.