Man Group plc Takes Position in Cohu, Inc. $COHU

Key Points

• Man Group plc purchased 114,570 shares of Cohu in the second quarter, valued at approximately $8.47 million and representing a 0.24% stake. Institutional investors collectively own 94.67% of the semiconductor testing company.
• Cohu reported stronger-than-expected quarterly results, with earnings of $0.26 per share versus a $0.14 consensus estimate and revenue up 38.3% year over year to $149 million.
• Analyst sentiment remains positive, with an average “Buy” rating and a consensus price target of $68.75, although insiders sold 30,307 shares worth approximately $1.63 million over the past 90 days.

Man Group plc bought a new position in Cohu, Inc. (NASDAQ:COHU - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 114,570 shares of the semiconductor company's stock, valued at approximately $8,468,000. Man Group plc owned 0.24% of Cohu as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of COHU. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Cohu in the 2nd quarter worth about $48,000. Allworth Financial LP purchased a new position in Cohu during the 2nd quarter valued at about $65,000. Hollencrest Capital Management purchased a new position in Cohu during the 1st quarter valued at about $31,000. Kestra Advisory Services LLC acquired a new position in shares of Cohu in the 4th quarter valued at about $34,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Cohu by 45.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 452 shares during the period. Hedge funds and other institutional investors own 94.67% of the company's stock.

Insider Activity at Cohu

In other Cohu news, SVP Christopher Bohrson sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was 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 $8,914,565.64. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $789,138.48. Following the sale, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 30,307 shares of company stock valued at $1,630,573. Insiders own 3.05% of the company's stock.

Cohu Price Performance

Shares of COHU opened at $48.00 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 4.72 and a current ratio of 5.74. The firm has a market cap of $2.27 billion, a PE ratio of -57.83 and a beta of 1.59. The firm's 50 day moving average price is $55.26 and its 200 day moving average price is $45.89. Cohu, Inc. has a twelve month low of $18.67 and a twelve month high of $74.60.

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

Wall Street Analyst Weigh In

COHU has been the subject of several research reports. Stifel Nicolaus raised their price target on shares of Cohu from $50.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Craig Hallum reissued a "buy" rating and set a $74.00 target price on shares of Cohu in a research note on Friday, July 31st. TD Cowen boosted their price target on shares of Cohu from $60.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. B. Riley Financial boosted their price target on shares of Cohu from $65.00 to $69.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $74.00 price objective on shares of Cohu in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $68.75.

Cohu Company Profile

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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