Cohu (NASDAQ:COHU) Reaches New 1-Year High – Still a Buy?

Cohu, Inc. (NASDAQ:COHU) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $31.77 and last traded at $31.70, with a volume of 194414 shares traded. The stock had previously closed at $30.85.

Wall Street Analysts Forecast Growth

COHU has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price on shares of Cohu from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cohu in a report on Wednesday, January 21st. Needham & Company LLC upgraded shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Tuesday, January 6th. TD Cowen reaffirmed a “buy” rating on shares of Cohu in a research report on Thursday, October 30th. Finally, B. Riley Financial lifted their price objective on Cohu from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.75.

Cohu Stock Performance

The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -20.17 and a beta of 1.29. The firm’s 50-day moving average is $26.20 and its two-hundred day moving average is $22.97. The company has a current ratio of 4.39, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Cohu

Hedge funds have recently modified their holdings of the business. Tudor Investment Corp ET AL acquired a new position in Cohu during the third quarter worth about $243,960,000. Invesco Ltd. lifted its stake in Cohu by 478.4% in 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 in the last quarter. Tributary Capital Management LLC boosted its holdings in shares of Cohu by 131.5% during the 3rd quarter. Tributary Capital Management LLC now owns 1,520,386 shares of the semiconductor company’s stock worth $30,909,000 after purchasing an additional 863,654 shares during the last quarter. Mizuho Markets Americas LLC grew its position in shares of Cohu by 349.3% in the fourth quarter. Mizuho Markets Americas LLC now owns 302,838 shares of the semiconductor company’s stock valued at $7,047,000 after purchasing an additional 235,438 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Cohu by 20.0% in the second quarter. Frontier Capital Management Co. LLC now owns 1,355,973 shares of the semiconductor company’s stock valued at $26,089,000 after purchasing an additional 226,453 shares during the last quarter. 94.67% of the stock is currently owned by institutional investors and hedge funds.

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.