Cohu Inc. (COHU) Rating Increased to Buy at TheStreet
Cohu Inc. (NASDAQ:COHU) was upgraded by equities researchers at TheStreet from a “hold” rating to a “buy” rating in a research report issued on Tuesday.
COHU has been the topic of several other research reports. B. Riley restated a “buy” rating and set a $14.00 target price on shares of Cohu in a research report on Friday, October 28th. Zacks Investment Research raised shares of Cohu from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th.
Cohu (NASDAQ:COHU) opened at 12.85 on Tuesday. The firm’s 50-day moving average price is $11.45 and its 200 day moving average price is $11.30. The firm has a market capitalization of $343.24 million, a P/E ratio of 116.82 and a beta of 0.84. Cohu has a one year low of $10.01 and a one year high of $13.32.
Cohu (NASDAQ:COHU) last posted its earnings results on Thursday, October 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.08. The firm had revenue of $69.30 million for the quarter, compared to the consensus estimate of $67.95 million. Cohu had a return on equity of 3.04% and a net margin of 1.06%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share. On average, equities analysts anticipate that Cohu will post $0.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Friday, November 18th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $0.24 annualized dividend and a dividend yield of 1.87%. Cohu’s payout ratio is currently 218.20%.
In other news, Director William Bendush sold 6,000 shares of the company’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $12.14, for a total value of $72,840.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.97% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. purchased a new position in Cohu during the second quarter worth approximately $8,162,000. BlackRock Fund Advisors boosted its position in Cohu by 9.1% in the third quarter. BlackRock Fund Advisors now owns 1,853,375 shares of the company’s stock worth $21,759,000 after buying an additional 154,915 shares in the last quarter. Vanguard Group Inc. boosted its position in Cohu by 14.5% in the second quarter. Vanguard Group Inc. now owns 1,209,741 shares of the company’s stock worth $13,125,000 after buying an additional 152,903 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Cohu by 29.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 447,652 shares of the company’s stock worth $5,255,000 after buying an additional 103,170 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new position in Cohu during the third quarter worth approximately $750,000. 82.24% of the stock is currently owned by hedge funds and other institutional investors.
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Cohu, Inc is a supplier of semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors and thermal sub-systems used by global semiconductor manufacturers and test subcontractors. The Company develops, manufactures, sells and services a line of equipment capable of handling a range of integrated circuits and light-emitting diodes (LEDs).
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