Royal Bank of Canada Has $1.19 Million Stock Position in Cohu, Inc. $COHU

Key Points

• Royal Bank of Canada cut its Cohu stake by 47.3% during the first quarter, selling 34,958 shares and retaining 38,891 shares worth approximately $1.19 million. Institutional investors and hedge funds collectively own 94.67% of the company.
• Cohu reported quarterly EPS of $0.26, beating estimates of $0.14, while revenue rose 38.3% year over year to $149 million. The stock opened at $54.11, down 2.0%, with a 12-month range of $18.67 to $74.60.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $68.75; recent targets range as high as $80. Insiders have sold 20,307 shares worth about $1.07 million over the past 90 days, including sales conducted under pre-arranged trading plans.

Royal Bank of Canada reduced its position in shares of Cohu, Inc. (NASDAQ:COHU - Free Report) by 47.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,891 shares of the semiconductor company's stock after selling 34,958 shares during the period. Royal Bank of Canada owned 0.08% of Cohu worth $1,191,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hollencrest Capital Management acquired a new position in Cohu during the 1st quarter worth $31,000. Farther Finance Advisors LLC boosted its holdings in Cohu by 45.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company's stock valued at $34,000 after acquiring an additional 452 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Cohu in the fourth quarter valued at about $34,000. Los Angeles Capital Management LLC bought a new position in shares of Cohu in the fourth quarter worth about $37,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Cohu by 202.7% in the second quarter. Smartleaf Asset Management LLC now owns 2,113 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 1,415 shares during the period. 94.67% of the stock is currently owned by institutional investors and hedge funds.

Cohu Stock Down 2.0%

COHU stock opened at $54.11 on Friday. Cohu, Inc. has a twelve month low of $18.67 and a twelve month high of $74.60. The company has a quick ratio of 4.72, a current ratio of 5.74 and a debt-to-equity ratio of 0.37. The company has a market cap of $2.56 billion, a PE ratio of -65.19 and a beta of 1.59. The business's 50-day simple moving average is $56.96 and its 200 day simple moving average is $45.09.

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

Insider Activity

In related news, Director Andrew M. Caggia sold 15,252 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $789,138.48. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher Bohrson sold 1,000 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $61.90, for a total value of $61,900.00. Following the completion of the transaction, the senior vice president owned 169,702 shares of the company's stock, valued at $10,504,553.80. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 20,307 shares of company stock worth $1,072,373. Company insiders own 3.05% of the company's stock.

Wall Street Analyst Weigh In

COHU has been the subject of several recent analyst reports. Jefferies Financial Group restated a "buy" rating and set a $74.00 target price on shares of Cohu in a research note on Friday, July 31st. Robert W. Baird began coverage on Cohu in a report on Wednesday, July 8th. They set an "outperform" rating and a $65.00 price target for the company. Zacks Research raised Cohu from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. TD Cowen raised their price objective on shares of Cohu from $60.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Finally, Stifel Nicolaus boosted their target price on shares of Cohu from $50.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $68.75.

About Cohu

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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