Summit Global Investments Invests $714,000 in Cohu, Inc. $COHU

Summit Global Investments purchased a new stake in shares of Cohu, Inc. (NASDAQ:COHU) during the second quarter, Holdings Channel.com reports. The firm purchased 9,664 shares of the semiconductor company’s stock, valued at approximately $714,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC boosted its stake in Cohu by 2.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 16,231 shares of the semiconductor company’s stock worth $378,000 after purchasing an additional 332 shares during the period. Sheets Smith Wealth Management raised its stake in Cohu by 3.0% during the 1st quarter. Sheets Smith Wealth Management now owns 14,644 shares of the semiconductor company’s stock valued at $448,000 after purchasing an additional 420 shares during the period. US Bancorp DE lifted its holdings in shares of Cohu by 4.6% in the third quarter. US Bancorp DE now owns 9,847 shares of the semiconductor company’s stock valued at $200,000 after purchasing an additional 432 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Cohu by 45.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 452 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Cohu by 0.9% in the second quarter. CANADA LIFE ASSURANCE Co now owns 65,233 shares of the semiconductor company’s stock valued at $1,255,000 after purchasing an additional 576 shares in the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

Cohu Trading Up 1.6%

Shares of NASDAQ:COHU opened at $59.30 on Friday. The firm has a fifty day moving average of $56.75 and a two-hundred day moving average of $44.17. The company has a quick ratio of 4.72, a current ratio of 5.74 and a debt-to-equity ratio of 0.37. Cohu, Inc. has a 12-month low of $18.67 and a 12-month high of $74.60. The firm has a market capitalization of $2.81 billion, a P/E ratio of -71.44 and a beta of 1.59.

Cohu (NASDAQ:COHU) last posted its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.12. Cohu had a negative net margin of 7.43% and a negative return on equity of 1.96%. The business had revenue of $149.00 million for the quarter, compared to the consensus estimate of $144.20 million. During the same period in the prior year, the business posted $0.02 earnings per share. Cohu’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities analysts expect that Cohu, Inc. will post 0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on COHU. Craig Hallum reiterated a “buy” rating and set a $74.00 price target on shares of Cohu in a report on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Cohu in a research note on Friday, July 17th. Stifel Nicolaus raised their price objective on Cohu from $50.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Needham & Company LLC lifted their target price on Cohu from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, TD Cowen upped 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. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $68.75.

Insider Transactions at Cohu

In other Cohu news, CFO Jeffrey D. Jones sold 13,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $46.84, for a total value of $608,920.00. Following the transaction, the chief financial officer directly owned 343,792 shares of the company’s stock, valued at $16,103,217.28. This represents a 3.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director James A. Donahue sold 10,257 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $46.77, for a total value of $479,719.89. Following the sale, the director directly owned 3,578 shares of the company’s stock, valued at $167,343.06. This trade represents a 74.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 97,975 shares of company stock valued at $4,664,219. Corporate insiders own 3.05% 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.