Connor Clark & Lunn Investment Management Ltd. Invests $38.52 Million in Cohu, Inc. $COHU

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Cohu, Inc. (NASDAQ:COHU) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 521,220 shares of the semiconductor company’s stock, valued at approximately $38,523,000. Connor Clark & Lunn Investment Management Ltd. owned 1.10% of Cohu at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Cohu by 3.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,214 shares of the semiconductor company’s stock valued at $400,000 after purchasing an additional 905 shares during the period. Caxton Associates LLP purchased a new position in Cohu during the first quarter valued at approximately $276,000. Jane Street Group LLC increased its holdings in Cohu by 2,042.7% during the first quarter. Jane Street Group LLC now owns 162,674 shares of the semiconductor company’s stock valued at $2,393,000 after buying an additional 155,082 shares during the period. American Century Companies Inc. raised its stake in Cohu by 4.9% in the second quarter. American Century Companies Inc. now owns 114,361 shares of the semiconductor company’s stock worth $2,200,000 after buying an additional 5,297 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Cohu by 478.4% in the second quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company’s stock worth $22,612,000 after buying an additional 972,088 shares in the last quarter. 94.67% of the stock is owned by hedge funds and other institutional investors.

Cohu Trading Down 5.6%

Cohu stock opened at $51.30 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 4.72 and a current ratio of 5.74. The stock has a market cap of $2.43 billion, a PE ratio of -61.81 and a beta of 1.59. The stock has a 50-day moving average of $56.56 and a two-hundred day moving average of $45.41. Cohu, Inc. has a one year low of $18.67 and a one year high of $74.60.

Cohu (NASDAQ:COHU) last announced its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.14 by $0.12. The firm had revenue of $149.00 million during the quarter, compared to analyst estimates of $144.20 million. Cohu had a negative net margin of 7.43% and a negative return on equity of 1.96%. Cohu’s revenue was up 38.3% on a year-over-year basis. During the same period last year, the firm posted $0.02 EPS. On average, research analysts anticipate that Cohu, Inc. will post 0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Andrew M. Caggia sold 15,252 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $789,138.48. Following the transaction, the director directly owned 64,778 shares of the company’s stock, valued at $3,351,613.72. This represents a 19.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nina Richardson sold 3,055 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $51.54, for a total value of $157,454.70. Following the completion of the transaction, the director owned 39,093 shares of the company’s stock, valued at $2,014,853.22. This trade represents a 7.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 30,307 shares of company stock valued at $1,630,573. Insiders own 3.05% of the company’s stock.

Analyst Ratings Changes

COHU has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cohu in a research report on Friday, July 17th. Needham & Company LLC upped their price objective on Cohu from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. TD Cowen raised their price objective on Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Zacks Research upgraded Cohu from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Finally, Craig Hallum reiterated a “buy” rating and issued a $74.00 target price on shares of Cohu in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cohu presently has an average rating of “Buy” and a consensus target price of $68.75.

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.