Divisadero Street Capital Management LP Acquires Shares of 149,317 Cohu, Inc. $COHU

Divisadero Street Capital Management LP purchased a new position in shares of Cohu, Inc. (NASDAQ:COHU) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 149,317 shares of the semiconductor company’s stock, valued at approximately $3,036,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Cohu by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,303,546 shares of the semiconductor company’s stock valued at $87,491,000 after buying an additional 18,033 shares during the period. Royce & Associates LP boosted its stake in shares of Cohu by 4.7% during the 3rd quarter. Royce & Associates LP now owns 1,910,497 shares of the semiconductor company’s stock worth $38,840,000 after acquiring an additional 85,662 shares in the last quarter. Tributary Capital Management LLC grew its holdings in Cohu by 131.5% in the third quarter. Tributary Capital Management LLC now owns 1,520,386 shares of the semiconductor company’s stock valued at $30,909,000 after purchasing an additional 863,654 shares during the last quarter. Frontier Capital Management Co. LLC increased its holdings in Cohu by 20.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,355,973 shares of the semiconductor company’s stock valued at $26,089,000 after acquiring an additional 226,453 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Cohu by 478.4% during the 2nd quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company’s stock worth $22,612,000 after purchasing an additional 972,088 shares during the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.

Cohu Stock Performance

Shares of NASDAQ COHU opened at $27.25 on Monday. The company has a quick ratio of 5.69, a current ratio of 6.88 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $29.28 and its two-hundred day moving average price is $24.84. Cohu, Inc. has a 52-week low of $12.57 and a 52-week high of $34.96. The stock has a market capitalization of $1.28 billion, a P/E ratio of -17.14 and a beta of 1.27.

Cohu (NASDAQ:COHU) last released its quarterly earnings results on Thursday, February 12th. The semiconductor company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.22). Cohu had a negative return on equity of 3.76% and a negative net margin of 16.40%.The firm had revenue of $122.23 million for the quarter, compared to the consensus estimate of $122.09 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The firm’s revenue was up 29.9% on a year-over-year basis. As a group, sell-side analysts forecast that Cohu, Inc. will post -0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COHU. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cohu in a research note on Wednesday, January 21st. Needham & Company LLC raised their price objective on Cohu from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Zacks Research cut shares of Cohu from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Stifel Nicolaus increased their price objective on shares of Cohu from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Finally, TD Cowen raised their target price on Cohu from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Four analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.25.

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.