Cohu (NASDAQ:COHU) Sets New 12-Month High - What's Next?

Key Points

• Cohu shares reached a new 52-week high of $74.69, up from a previous close of $70.34, giving the company a market capitalization of approximately $3.51 billion.
• Recent analyst sentiment is largely positive, with a consensus rating of “Moderate Buy” and an average price target of $68.75, although ratings range from Strong Buy to Sell.
• Cohu exceeded quarterly expectations, reporting adjusted earnings of $0.26 per share versus the $0.14 consensus and revenue of $149 million, up 38.3% year over year; however, insiders sold 112,337 shares worth approximately $6.7 million during the last quarter.

Cohu, Inc. (NASDAQ:COHU - Get Free Report)'s stock price hit a new 52-week high on Friday. The stock traded as high as $74.69 and last traded at $73.7260, with a volume of 423206 shares trading hands. The stock had previously closed at $70.34.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COHU. Weiss Ratings reissued a "sell (d-)" rating on shares of Cohu in a report on Friday, July 17th. Robert W. Baird assumed coverage on Cohu in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $65.00 price target on the stock. B. Riley Financial increased their price objective on Cohu from $65.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Jefferies Financial Group restated a "buy" rating and set a $74.00 target price on shares of Cohu in a research report on Friday, July 31st. Finally, Needham & Company LLC increased their price target on shares of Cohu from $54.00 to $65.00 and gave the company a "buy" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $68.75.

Cohu Stock Up 5.5%

The stock has a market capitalization of $3.51 billion, a PE ratio of -89.32 and a beta of 1.50. The firm has a 50 day moving average of $54.14 and a two-hundred day moving average of $50.47. The company has a current ratio of 5.74, a quick ratio of 4.72 and a debt-to-equity ratio of 0.37.

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 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 company had revenue of $149.00 million for the quarter, compared to the consensus estimate of $144.20 million. During the same period in the previous year, the business earned $0.02 earnings per share. Cohu's quarterly revenue was up 38.3% compared to the same quarter last year. Equities research analysts anticipate that Cohu, Inc. will post 0.47 earnings per share for the current year.

Insider Buying and Selling at Cohu

In other news, Director Andrew M. Caggia sold 15,252 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $789,138.48. Following the sale, the director directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Luis Muller sold 27,236 shares of the firm's stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $65.00, for a total transaction of $1,770,340.00. Following the transaction, the chief executive officer directly owned 844,589 shares of the company's stock, valued at approximately $54,898,285. This trade represents a 3.12% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 112,337 shares of company stock valued at $6,684,673 in the last quarter. Insiders own 3.05% of the company's stock.

Institutional Investors Weigh In On Cohu

Large investors have recently bought and sold shares of the stock. Nykredit A S acquired a new position in shares of Cohu in the second quarter worth $36,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Cohu during the 2nd quarter worth about $48,000. Allworth Financial LP purchased a new stake in Cohu during the 2nd quarter worth about $65,000. Hollencrest Capital Management acquired a new position in Cohu in the 1st quarter valued at about $31,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Cohu in the 2nd quarter valued at about $79,000. Institutional investors and hedge funds own 94.67% of the company's stock.

About Cohu

Cohu, Inc provides semiconductor test and inspection equipment, consumables and related services used by semiconductor manufacturers and outsourced semiconductor assembly and test providers. Its solutions support the testing and handling of integrated circuits throughout the manufacturing process, helping customers evaluate device performance, reliability and quality.

The company's product portfolio includes semiconductor test handlers, inspection and metrology systems, thermal-management equipment, test contactors and other interface products.

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