Cohu (NASDAQ:COHU) Trading Up 6.1% – Still a Buy?

Cohu, Inc. (NASDAQ:COHU) rose 6.1% during trading on Friday . The stock traded as high as $58.47 and last traded at $58.0570. Approximately 52,079 shares were traded during trading, a decline of 95% from the average session volume of 1,113,634 shares. The stock had previously closed at $54.73.

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Cowen boosted their price target on shares of Cohu from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Craig Hallum reiterated a “buy” rating and issued a $74.00 price target on shares of Cohu in a research report on Friday, July 31st. Zacks Research downgraded Cohu from a “strong-buy” rating to a “hold” rating in a report on Friday, August 28th. Stifel Nicolaus lifted their target price on shares of Cohu from $50.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Cohu in a research note on Friday, July 31st. One equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.75.

Cohu Stock Performance

The company has a fifty day moving average price of $52.22 and a 200 day moving average price of $47.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.74 and a quick ratio of 4.72. The stock has a market cap of $2.73 billion, a P/E ratio of -69.53 and a beta of 1.58.

Cohu (NASDAQ:COHU) last posted its 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 return on equity of 1.96% and a negative net margin of 7.43%.The firm had revenue of $149.00 million for the quarter, compared to the consensus estimate of $144.20 million. During the same quarter in the prior year, the business earned $0.02 EPS. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. On average, equities analysts expect that Cohu, Inc. will post 0.47 EPS for the current year.

Insider Buying and Selling at Cohu

In related news, SVP Christopher Bohrson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $55.82, for a total value of $558,200.00. Following the completion of the sale, the senior vice president directly owned 159,702 shares of the company’s stock, 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 link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Nina Richardson sold 3,055 shares of Cohu stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $51.54, for a total transaction of $157,454.70. Following the transaction, the director directly owned 39,093 shares in the company, valued at $2,014,853.22. This represents a 7.25% decrease in their position. The SEC filing for this sale provides additional information. 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. Company insiders own 3.05% of the company’s stock.

Institutional Trading of Cohu

Institutional investors and hedge funds have recently modified their holdings of the company. Hollencrest Capital Management bought a new stake in Cohu during the first quarter valued at about $31,000. Kestra Advisory Services LLC purchased a new position in shares of Cohu during the fourth quarter worth $34,000. Nykredit A S purchased a new position in shares of Cohu in the second quarter valued at approximately $36,000. Los Angeles Capital Management LLC acquired a new stake in shares of Cohu during the 4th quarter worth approximately $37,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Cohu by 202.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,113 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 1,415 shares during the period. 94.67% of the stock is currently owned by institutional investors.

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.