Tidal Investments LLC Trims Holdings in Cohu, Inc. $COHU

Key Points

• Tidal Investments cut its Cohu stake by 61% in the second quarter, selling 21,220 shares and retaining 13,593 shares valued at approximately $1.0 million.
• Institutional ownership remains high at 94.67%, with BlackRock and Manufacturers Life Insurance initiating significant positions while Segall Bryant & Hamill more than doubled its stake.
• Cohu exceeded quarterly earnings and revenue expectations, reporting $0.26 EPS and $149 million in revenue, while analysts maintain a “Moderate Buy” consensus with an average price target of $68.75.

Tidal Investments LLC lowered its stake in shares of Cohu, Inc. (NASDAQ:COHU - Free Report) by 61.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,593 shares of the semiconductor company's stock after selling 21,220 shares during the period. Tidal Investments LLC's holdings in Cohu were worth $1,005,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Cohu during the 2nd quarter worth approximately $545,932,000. Royce & Associates LP lifted its holdings in shares of Cohu by 0.4% in the 4th quarter. Royce & Associates LP now owns 1,918,424 shares of the semiconductor company's stock worth $44,642,000 after acquiring an additional 7,927 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Cohu during the 2nd quarter worth approximately $77,814,000. Segall Bryant & Hamill LLC boosted its position in shares of Cohu by 125.5% during the 1st quarter. Segall Bryant & Hamill LLC now owns 955,344 shares of the semiconductor company's stock worth $29,253,000 after purchasing an additional 531,661 shares during the period. Finally, Emerald Advisers LLC acquired a new stake in Cohu in the 1st quarter valued at approximately $23,887,000. 94.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Nina Richardson sold 3,055 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $51.54, for a total value of $157,454.70. Following the transaction, the director directly owned 39,093 shares of the company's stock, valued at $2,014,853.22. This trade represents a 7.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrew Caggia sold 15,252 shares of Cohu stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $51.74, for a total transaction of $789,138.48. Following the sale, the director owned 64,778 shares in the company, valued at $3,351,613.72. This represents a 19.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 29,307 shares of company stock worth $1,566,693. Corporate insiders own 3.05% of the company's stock.

Cohu Price Performance

Shares of NASDAQ COHU opened at $57.75 on Friday. The stock's 50-day simple moving average is $51.99 and its 200-day simple moving average is $47.99. The firm has a market capitalization of $2.73 billion, a PE ratio of -69.58 and a beta of 1.58. Cohu, Inc. has a fifty-two week low of $18.67 and a fifty-two week high of $74.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 4.72 and a current ratio of 5.74.

Cohu (NASDAQ:COHU - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $144.20 million. During the same period in the prior year, the company posted $0.02 earnings per share. The firm's quarterly revenue was up 38.3% compared to the same quarter last year. As a group, equities research analysts forecast that Cohu, Inc. will post 0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stifel Nicolaus upped their price target on Cohu from $50.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $74.00 price objective on shares of Cohu in a research note on Friday, July 31st. Needham & Company LLC boosted their price objective on Cohu from $54.00 to $65.00 and gave the company a "buy" rating in a report on Friday, July 31st. Robert W. Baird began coverage on Cohu in a research note on Wednesday, July 8th. They set an "outperform" rating and a $65.00 target price on the stock. Finally, Zacks Research cut Cohu from a "strong-buy" rating to a "hold" rating in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $68.75.

Cohu Company Profile

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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