Cohu (NASDAQ:COHU) Shares Gap Up – Should You Buy?

Cohu, Inc. (NASDAQ:COHU)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $25.10, but opened at $26.20. Cohu shares last traded at $26.6080, with a volume of 182,538 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Cowen reaffirmed a “buy” rating on shares of Cohu in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cohu in a report on Wednesday, October 8th. B. Riley reiterated a “buy” rating on shares of Cohu in a research note on Thursday, October 30th. TD Cowen boosted their price objective on shares of Cohu from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, 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 report on Tuesday. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.50.

Cohu Stock Down 2.7%

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.39 and a quick ratio of 3.24. The firm’s 50 day moving average price is $23.75 and its two-hundred day moving average price is $21.60. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -16.60 and a beta of 1.27.

Cohu (NASDAQ:COHU) last released its earnings results on Wednesday, October 29th. The semiconductor company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.13. The company had revenue of $126.25 million during the quarter, compared to analysts’ expectations of $124.98 million. Cohu had a negative net margin of 17.22% and a negative return on equity of 3.73%. The business’s revenue was up 32.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) EPS. As a group, sell-side analysts forecast that Cohu, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Cohu by 11.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,935 shares of the semiconductor company’s stock worth $441,000 after purchasing an additional 1,942 shares during the period. GAMMA Investing LLC lifted its position in Cohu by 8.7% during the fourth quarter. GAMMA Investing LLC now owns 7,477 shares of the semiconductor company’s stock worth $174,000 after buying an additional 600 shares during the period. JPMorgan Chase & Co. lifted its position in Cohu by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 257,610 shares of the semiconductor company’s stock worth $5,237,000 after buying an additional 27,381 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Cohu in the 3rd quarter worth about $243,960,000. Finally, Woodline Partners LP purchased a new stake in Cohu in the 3rd quarter valued at about $722,000. 94.67% of the stock is currently owned by hedge funds and other institutional investors.

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.