Tributary Capital Management LLC Increases Stock Position in Cohu, Inc. $COHU

Tributary Capital Management LLC lifted its position in shares of Cohu, Inc. (NASDAQ:COHU) by 131.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,520,386 shares of the semiconductor company’s stock after buying an additional 863,654 shares during the period. Tributary Capital Management LLC owned approximately 3.26% of Cohu worth $30,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COHU. SG Americas Securities LLC acquired a new stake in Cohu in the 3rd quarter valued at $632,000. Penbrook Management LLC lifted its holdings in Cohu by 27.6% during the 3rd quarter. Penbrook Management LLC now owns 49,500 shares of the semiconductor company’s stock worth $1,006,000 after buying an additional 10,700 shares during the last quarter. Stanley Laman Group Ltd. bought a new position in Cohu during the 3rd quarter worth approximately $3,109,000. Sheets Smith Wealth Management bought a new position in shares of Cohu during the third quarter valued at approximately $292,000. Finally, Azarias Capital Management L.P. lifted its stake in Cohu by 21.1% in the third quarter. Azarias Capital Management L.P. now owns 285,648 shares of the semiconductor company’s stock valued at $5,807,000 after buying an additional 49,837 shares during the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.

Cohu Stock Down 0.9%

COHU opened at $26.78 on Thursday. The company has a market capitalization of $1.25 billion, a P/E ratio of -17.06 and a beta of 1.27. 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 fifty day moving average price is $23.75 and its two-hundred day moving average price is $21.60. Cohu, Inc. has a fifty-two week low of $12.57 and a fifty-two week high of $27.44.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on COHU. TD Cowen lifted their price objective on shares of Cohu from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Needham & Company LLC raised shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday. B. Riley reiterated a “buy” rating on shares of Cohu in a report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a report on Wednesday, October 8th. Finally, Cowen restated a “buy” rating on shares of Cohu in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.50.

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.