Cohu (NASDAQ:COHU) Hits New 12-Month High – Here’s Why

Cohu, Inc. (NASDAQ:COHU) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $53.77 and last traded at $52.5770, with a volume of 223857 shares traded. The stock had previously closed at $49.93.

Wall Street Analyst Weigh In

COHU has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cohu in a report on Monday, April 20th. Jefferies Financial Group set a $60.00 price objective on Cohu and gave the stock a “buy” rating in a research note on Friday, May 1st. TD Cowen increased their target price on Cohu from $35.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Evercore restated an “outperform” rating and issued a $53.00 target price on shares of Cohu in a research note on Tuesday, April 28th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Cohu in a research report on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cohu presently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Cohu Trading Up 8.0%

The company has a quick ratio of 5.31, a current ratio of 6.43 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average is $39.92 and its two-hundred day moving average is $31.34. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -45.38 and a beta of 1.61.

Cohu (NASDAQ:COHU) last posted its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $125.12 million for the quarter, compared to analyst estimates of $122.14 million. Cohu had a negative return on equity of 3.50% and a negative net margin of 11.54%.The firm’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) EPS. Equities analysts anticipate that Cohu, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Cohu

In related news, CEO Luis A. Muller sold 45,154 shares of Cohu stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $46.62, for a total value of $2,105,079.48. Following the completion of the sale, the chief executive officer directly owned 927,619 shares in the company, valued at $43,245,597.78. This trade represents a 4.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey D. Jones sold 13,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $46.84, for a total value of $608,920.00. Following the sale, the chief financial officer directly owned 343,792 shares of the company’s stock, valued at $16,103,217.28. This represents a 3.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 90,668 shares of company stock valued at $4,212,706 over the last ninety days. Company insiders own 3.05% of the company’s stock.

Institutional Investors Weigh In On Cohu

Institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL bought a new stake in shares of Cohu during the third quarter worth approximately $243,960,000. SG Capital Management LLC bought a new position in Cohu in the fourth quarter valued at approximately $33,174,000. Invesco Ltd. grew its holdings in 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 acquiring an additional 972,088 shares during the period. Emerald Advisers LLC acquired a new stake in Cohu during the 1st quarter worth $23,887,000. Finally, Segall Bryant & Hamill LLC raised 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 valued at $29,253,000 after acquiring an additional 531,661 shares during the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.

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.