Cohu (NASDAQ:COHU) Shares Break Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Cohu, Inc. (NASDAQ:COHU) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $52.46 and traded as high as $66.42. Cohu shares last traded at $65.21, with a volume of 994,319 shares trading hands.

Wall Street Analyst Weigh In

COHU has been the topic of several recent research reports. Robert W. Baird assumed coverage on Cohu in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $65.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cohu in a report on Friday, July 17th. Jefferies Financial Group reiterated a “buy” rating and issued a $74.00 price objective on shares of Cohu in a report on Friday, July 31st. TD Cowen increased their target price on Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Finally, Needham & Company LLC increased their target price on Cohu from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.75.

Cohu Stock Down 7.2%

The firm has a market cap of $2.76 billion, a P/E ratio of -70.17 and a beta of 1.51. The firm’s 50 day moving average is $57.72 and its two-hundred day moving average is $52.68. 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) last issued its earnings results on Thursday, July 30th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.14 by $0.12. The firm had revenue of $149.00 million during the quarter, compared to the consensus estimate of $144.20 million. Cohu had a negative net margin of 7.43% and a negative return on equity of 1.96%. The business’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 earnings per share. As a group, research analysts anticipate that Cohu, Inc. will post 0.47 EPS for the current fiscal year.

Insider Activity

In related news, CEO Luis A. Muller sold 55,794 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $60.00, for a total value of $3,347,640.00. Following the completion of the sale, the chief executive officer owned 871,825 shares in the company, valued at $52,309,500. This represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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. Also, Director Andrew Caggia sold 15,252 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $51.74, for a total transaction of $789,138.48. Following the completion of the sale, the director owned 64,778 shares of the company’s stock, valued at approximately $3,351,613.72. This represents a 19.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 133,999 shares of company stock worth $8,265,999 over the last quarter. Corporate insiders own 3.05% of the company’s stock.

Hedge Funds Weigh In On Cohu

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Cohu in the second quarter valued at approximately $545,932,000. The Manufacturers Life Insurance Company acquired a new position in shares of Cohu during the second quarter worth about $77,814,000. Paradigm Capital Management Inc. NY bought a new position in shares of Cohu during the second quarter worth about $42,794,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Cohu during the second quarter worth about $38,523,000. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Cohu by 125.5% during the first quarter. Segall Bryant & Hamill LLC now owns 955,344 shares of the semiconductor company’s stock worth $29,253,000 after buying an additional 531,661 shares in the last quarter. 94.67% of the stock is currently owned by institutional investors and hedge funds.

Cohu Company Profile

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.