Cohu (NASDAQ:COHU) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Cohu, Inc. (NASDAQ:COHU) passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $47.22 and traded as low as $43.15. Cohu shares last traded at $43.98, with a volume of 1,515,553 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. B. Riley Financial upped their price objective on Cohu from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Craig Hallum reaffirmed a “buy” rating and set a $74.00 target price on shares of Cohu in a report on Friday, July 31st. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Cohu in a research report on Thursday, October 29th. Zacks Research downgraded Cohu from a “strong-buy” rating to a “hold” rating in a report on Friday, August 28th. Finally, Stifel Nicolaus upped their price target on Cohu from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.38.

Cohu Price Performance

The company has a current ratio of 5.16, a quick ratio of 4.24 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $56.70 and its 200 day simple moving average is $47.22. The company has a market capitalization of $2.08 billion, a P/E ratio of -84.58 and a beta of 1.60.

Cohu (NASDAQ:COHU) last announced its earnings results on Wednesday, October 28th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.08. Cohu had a positive return on equity of 1.47% and a negative net margin of 3.97%. The business had revenue of $172.96 million during the quarter, compared to analysts’ expectations of $170.25 million. During the same quarter last year, the business posted ($0.06) earnings per share. The company’s quarterly revenue was up 37.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Cohu, Inc. will post 0.63 EPS for the current year.

Insider Activity at Cohu

In other news, SVP Christopher Bohrson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $55.82, for a total transaction of $558,200.00. Following the completion of the sale, the senior vice president owned 159,702 shares in the company, valued at approximately $8,914,565.64. This represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Luis A. Muller sold 55,794 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $60.00, for a total value of $3,347,640.00. Following the completion of the sale, the chief executive officer directly owned 871,825 shares in the company, valued at approximately $52,309,500. This represents a 6.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders have sold 116,692 shares of company stock worth $7,374,716. Insiders own 3.05% of the company’s stock.

Hedge Funds Weigh In On Cohu

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in Cohu by 17.7% during the third quarter. Parallel Advisors LLC now owns 2,510 shares of the semiconductor company’s stock valued at $171,000 after acquiring an additional 378 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Cohu in the 3rd quarter valued at approximately $413,000. CenterBook Partners LP acquired a new position in Cohu in the 3rd quarter valued at approximately $264,000. Choreo LLC lifted its position in shares of Cohu by 12.0% in the 3rd quarter. Choreo LLC now owns 4,187 shares of the semiconductor company’s stock worth $285,000 after acquiring an additional 450 shares during the period. Finally, Moody Aldrich Partners LLC bought a new stake in shares of Cohu in the 3rd quarter worth approximately $3,324,000. Institutional investors own 94.67% of the company’s stock.

Cohu Company Profile

Cohu, Inc is a global provider of semiconductor test and inspection equipment and related services. The company supplies solutions used by semiconductor manufacturers and outsourced semiconductor assembly and test providers to evaluate devices during production, helping improve manufacturing quality, reliability and efficiency.

Cohu’s product portfolio includes semiconductor test handlers, contactors and other interface products, inspection and metrology systems, thermal-management equipment, and software for test-data analysis and factory automation.