Victory Capital Management Inc. Sells 1,218,662 Shares of Cohu, Inc. $COHU

Key Points

• Victory Capital reduced its stake in Cohu by 29.3%, selling 1,218,662 shares and ending the quarter with 2,934,450 shares (about 6.28% of the company) valued at roughly $59.66 million.
• Cohu reported Q results on Feb 12 with an EPS of -$0.15 (missing the $0.07 estimate) while revenue rose 29.9% year-over-year to $122.23 million, leaving the company with negative net margin and ROE.
• Analyst views are mixed: four Buys and two Sells give a MarketBeat consensus rating of Hold and an average price target of $33.25, with recent targets ranging roughly $30–$35.

Victory Capital Management Inc. reduced its position in shares of Cohu, Inc. (NASDAQ:COHU - Free Report) by 29.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,934,450 shares of the semiconductor company's stock after selling 1,218,662 shares during the period. Victory Capital Management Inc. owned approximately 6.28% of Cohu worth $59,657,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE boosted its stake in Cohu by 4.6% during the third quarter. US Bancorp DE now owns 9,847 shares of the semiconductor company's stock valued at $200,000 after buying an additional 432 shares during the period. Amalgamated Bank increased its stake in Cohu by 3.4% in the 3rd quarter. Amalgamated Bank now owns 13,712 shares of the semiconductor company's stock worth $279,000 after acquiring an additional 457 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Cohu by 45.4% in the 3rd quarter. Bessemer Group Inc. now owns 1,564 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 488 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Cohu by 0.9% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 65,233 shares of the semiconductor company's stock valued at $1,255,000 after acquiring an additional 576 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Cohu by 5.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,755 shares of the semiconductor company's stock valued at $245,000 after acquiring an additional 704 shares during the last quarter. Institutional investors own 94.67% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on COHU shares. Needham & Company LLC upped their price objective on shares of Cohu from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, February 13th. TD Cowen lifted their target price on shares of Cohu from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, February 13th. B. Riley Financial decreased their price target on shares of Cohu from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Cohu in a research report on Wednesday, January 21st. Finally, Zacks Research downgraded shares of Cohu from a "hold" rating to a "strong sell" rating in a report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $33.25.

Cohu Stock Performance

NASDAQ:COHU opened at $27.66 on Friday. The business has a 50 day moving average of $28.84 and a 200 day moving average of $24.49. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -17.40 and a beta of 1.27. Cohu, Inc. has a 1-year low of $12.57 and a 1-year high of $34.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.88 and a quick ratio of 5.69.

Cohu (NASDAQ:COHU - Get Free Report) last issued its earnings results on Thursday, February 12th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.22). The firm had revenue of $122.23 million during the quarter, compared to analysts' expectations of $122.09 million. Cohu had a negative return on equity of 3.76% and a negative net margin of 16.40%.The firm's quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.15) EPS. On average, sell-side analysts predict that Cohu, Inc. will post -0.36 earnings per share for the current fiscal year.

Cohu 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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