Cohu (NASDAQ:COHU) Trading 8.3% Higher – Here’s Why

Cohu, Inc. (NASDAQ:COHU)’s share price shot up 8.3% on Tuesday . The stock traded as high as $67.81 and last traded at $69.3820. 159,300 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,089,691 shares. The stock had previously closed at $64.05.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COHU. Stifel Nicolaus boosted their price objective on Cohu from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Evercore reissued an “outperform” rating and issued a $53.00 price objective on shares of Cohu in a report on Tuesday, April 28th. B. Riley Financial reissued a “buy” rating on shares of Cohu in a report on Monday, April 20th. Zacks Research raised Cohu from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Finally, Needham & Company LLC boosted their price objective on Cohu from $33.00 to $54.00 and gave the company a “buy” rating in a report on Friday, May 1st. 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.33.

Cohu Price Performance

The company has a market capitalization of $3.09 billion, a P/E ratio of -55.00 and a beta of 1.62. The company has a fifty day moving average price of $48.31 and a 200 day moving average price of $35.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.43 and a quick ratio of 5.31.

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

Insider Activity at Cohu

In other news, Director Steven J. Bilodeau sold 10,257 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $44.85, for a total transaction of $460,026.45. Following the completion of the transaction, the director directly owned 52,272 shares in the company, valued at approximately $2,344,399.20. The trade was a 16.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James A. Donahue sold 10,257 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $46.77, for a total value of $479,719.89. Following the transaction, the director owned 3,578 shares of the company’s stock, valued at approximately $167,343.06. This represents a 74.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 90,668 shares of company stock valued at $4,248,016. 3.05% of the stock is owned by insiders.

Hedge Funds Weigh In On Cohu

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Stanley Laman Group Ltd. lifted its position in Cohu by 27.8% in the fourth quarter. Stanley Laman Group Ltd. now owns 195,536 shares of the semiconductor company’s stock worth $4,550,000 after purchasing an additional 42,593 shares during the period. Dean Capital Management lifted its position in Cohu by 41.5% in the third quarter. Dean Capital Management now owns 127,324 shares of the semiconductor company’s stock worth $2,588,000 after purchasing an additional 37,345 shares during the period. First Eagle Investment Management LLC lifted its position in Cohu by 20.9% in the third quarter. First Eagle Investment Management LLC now owns 248,146 shares of the semiconductor company’s stock worth $5,045,000 after purchasing an additional 42,819 shares during the period. Divisadero Street Capital Management LP acquired a new stake in Cohu in the third quarter worth approximately $3,036,000. Finally, First National Bank of Omaha acquired a new stake in Cohu in the third quarter worth approximately $484,000. 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.