Cohu (NASDAQ:COHU) Stock Price Down 8.8% – Should You Sell?

Shares of Cohu, Inc. (NASDAQ:COHU) fell 8.8% during mid-day trading on Thursday . The stock traded as low as $63.67 and last traded at $63.0070. Approximately 184,795 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,129,709 shares. The stock had previously closed at $69.11.

Analysts Set New Price Targets

A number of brokerages have commented on COHU. TD Cowen increased their target price on Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Zacks Research upgraded Cohu from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Jefferies Financial Group set a $60.00 price objective on Cohu and gave the company a “buy” rating in a research note on Friday, May 1st. B. Riley Financial restated a “buy” rating on shares of Cohu in a report on Monday, April 20th. Finally, Needham & Company LLC lifted their target price on shares of Cohu from $33.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.33.

Cohu Stock Down 13.6%

The company has a quick ratio of 5.31, a current ratio of 6.43 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $2.82 billion, a PE ratio of -50.50 and a beta of 1.54. The business has a 50-day moving average price of $54.30 and a 200-day moving average price of $38.21.

Cohu (NASDAQ:COHU) last announced its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $125.12 million for the quarter, compared to analysts’ expectations of $122.14 million. Cohu had a negative return on equity of 3.50% and a negative net margin of 11.54%.The business’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) EPS. Equities research analysts forecast that Cohu, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Cohu

In other news, Director William Bendush sold 7,500 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $49.14, for a total transaction of $368,550.00. Following the transaction, the director owned 24,780 shares of the company’s stock, valued at approximately $1,217,689.20. The trade was a 23.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James A. Donahue sold 10,257 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $46.77, for a total transaction of $479,719.89. Following the completion of the sale, the director directly owned 3,578 shares of the company’s stock, valued at $167,343.06. This represents a 74.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 90,668 shares of company stock worth $4,248,016. Corporate insiders own 3.05% of the company’s stock.

Institutional Trading of Cohu

Several institutional investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC grew its position in Cohu by 125.5% in the first quarter. Segall Bryant & Hamill LLC now owns 955,344 shares of the semiconductor company’s stock worth $29,253,000 after acquiring an additional 531,661 shares during the period. Bank of America Corp DE raised its position in Cohu by 2.2% in the first quarter. Bank of America Corp DE now owns 517,195 shares of the semiconductor company’s stock valued at $15,837,000 after purchasing an additional 11,123 shares during the period. Amundi lifted its stake in shares of Cohu by 89.0% in the 1st quarter. Amundi now owns 36,844 shares of the semiconductor company’s stock valued at $1,128,000 after purchasing an additional 17,345 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Cohu by 35.8% in the 1st quarter. California State Teachers Retirement System now owns 58,792 shares of the semiconductor company’s stock valued at $1,800,000 after purchasing an additional 15,503 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Cohu by 44.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 19,734 shares of the semiconductor company’s stock worth $604,000 after purchasing an additional 6,045 shares during the period. Hedge funds and other institutional investors own 94.67% of the company’s stock.

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.