Insider Selling: Cohu (NASDAQ:COHU) SVP Sells 1,000 Shares

Key Points

• Cohu SVP Christopher Bohrson sold 1,000 shares for approximately $61,900 under a pre-arranged Rule 10b5-1 plan to cover tax withholding related to vested equity awards. He retains 169,702 shares.
• Cohu shares fell 5.4% to $59.22 during Tuesday trading, although the company recently reported stronger-than-expected quarterly results, including revenue growth of 38.3% year over year and EPS of $0.26 versus the $0.14 consensus estimate.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and a $68.75 price target; institutional investors own approximately 94.67% of the company’s outstanding shares.

Cohu, Inc. (NASDAQ:COHU - Get Free Report) SVP Christopher Bohrson sold 1,000 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $61.90, for a total transaction of $61,900.00. Following the completion of the transaction, the senior vice president directly owned 169,702 shares in the company, valued at $10,504,553.80. This represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

Christopher Bohrson also recently made the following trade(s):

• On Monday, June 15th, Christopher Bohrson sold 1,000 shares of Cohu stock. The shares were sold at an average price of $63.88, for a total transaction of $63,880.00.

Cohu Trading Down 5.4%

COHU stock traded down $3.40 during mid-day trading on Tuesday, reaching $59.22. The company had a trading volume of 1,836,272 shares, compared to its average volume of 1,140,179. The company has a market capitalization of $2.80 billion, a PE ratio of -71.35 and a beta of 1.59. The firm has a 50 day moving average of $56.95 and a 200 day moving average of $44.51. Cohu, Inc. has a 12 month low of $18.67 and a 12 month high of $74.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.74 and a quick ratio of 4.72.

Cohu (NASDAQ:COHU - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.26 earnings per share for the quarter, beating 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 firm had revenue of $149.00 million during the quarter, compared to the consensus estimate of $144.20 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The company's revenue was up 38.3% on a year-over-year basis. On average, equities analysts predict that Cohu, Inc. will post 0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COHU. Robert W. Baird began coverage on Cohu in a research note on Wednesday, July 8th. They set an "outperform" rating and a $65.00 price target on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $74.00 target price on shares of Cohu in a report on Friday, July 31st. Evercore reissued an "outperform" rating and set a $53.00 target price on shares of Cohu in a research report on Tuesday, April 28th. 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. Finally, Needham & Company LLC upped their price target on shares of Cohu from $54.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $68.75.

Institutional Investors Weigh In On Cohu

A number of hedge funds have recently made changes to their positions in COHU. BlackRock Inc. bought a new position in Cohu in the second quarter worth about $545,932,000. SG Capital Management LLC bought a new position in shares of Cohu during the 4th quarter worth approximately $33,174,000. The Manufacturers Life Insurance Company purchased a new stake in Cohu during the second quarter valued at approximately $77,814,000. Invesco Ltd. lifted its position in Cohu by 478.4% during the second quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company's stock valued at $22,612,000 after acquiring an additional 972,088 shares during the last quarter. Finally, Emerald Advisers LLC acquired a new stake in Cohu in the first quarter valued at approximately $23,887,000. 94.67% of the stock is currently owned by hedge funds and other institutional investors.

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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