Cohu (NASDAQ:COHU) Trading Down 6.3% on Insider Selling

Cohu, Inc. (NASDAQ:COHU) fell 6.3% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $54.00 and last traded at $55.5050. 269,676 shares changed hands during trading, a decline of 76% from the average daily volume of 1,133,605 shares. The stock had previously closed at $59.22.

Specifically, SVP Christopher Bohrson sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $61.90, for a total value of $61,900.00. Following the sale, the senior vice president owned 169,702 shares in the company, valued at approximately $10,504,553.80. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COHU. Craig Hallum reiterated a “buy” rating and issued a $74.00 price objective on shares of Cohu in a report on Friday, July 31st. Evercore reiterated an “outperform” rating and issued a $53.00 price target on shares of Cohu in a research note on Tuesday, April 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cohu in a research report on Friday, July 17th. Needham & Company LLC increased their price objective on shares of Cohu from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Stifel Nicolaus lifted their target price on Cohu from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cohu has an average rating of “Buy” and a consensus target price of $68.75.

Cohu Trading Down 6.3%

The company has a debt-to-equity ratio of 0.37, a current ratio of 5.74 and a quick ratio of 4.72. The business has a 50-day simple moving average of $57.03 and a two-hundred day simple moving average of $44.72. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -66.82 and a beta of 1.59.

Cohu (NASDAQ:COHU) last issued its earnings results on Thursday, July 30th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.14 by $0.12. The company had revenue of $149.00 million during the quarter, compared to the consensus estimate of $144.20 million. Cohu had a negative return on equity of 1.96% and a negative net margin of 7.43%.The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 EPS. Equities analysts forecast that Cohu, Inc. will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Cohu

Several institutional investors and hedge funds have recently modified their holdings of COHU. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Cohu during the 2nd quarter worth about $48,000. Allworth Financial LP acquired a new position in Cohu in the 2nd quarter valued at about $65,000. Hollencrest Capital Management bought a new position in Cohu in the 1st quarter valued at about $31,000. Public Employees Retirement System of Ohio bought a new position in Cohu in the 2nd quarter valued at about $79,000. Finally, Kestra Advisory Services LLC acquired a new stake in Cohu during the fourth quarter worth approximately $34,000. 94.67% of the stock is currently owned by institutional investors and hedge funds.

Cohu Company Profile

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.