Cohu, Inc. (COHU) Upgraded to “Buy” at Needham & Company LLC
Needham & Company LLC upgraded shares of Cohu, Inc. (NASDAQ:COHU) from a hold rating to a buy rating in a research note published on Monday morning. They currently have $24.00 price objective on the semiconductor company’s stock.
A number of other research analysts also recently commented on COHU. B. Riley restated a buy rating and issued a $25.00 target price on shares of Cohu in a research note on Monday, July 10th. BidaskClub downgraded Cohu from a buy rating to a hold rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Cohu from a hold rating to a strong-buy rating and set a $20.00 target price on the stock in a research note on Monday, August 21st. Finally, Dougherty & Co upped their price target on Cohu from $23.50 to $24.00 and gave the stock a buy rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $23.00.
Cohu (NASDAQ COHU) opened at 23.27 on Monday. The stock has a 50 day moving average price of $18.33 and a 200 day moving average price of $18.14. The firm has a market capitalization of $650.61 million, a price-to-earnings ratio of 33.63 and a beta of 0.88. Cohu has a 1-year low of $10.72 and a 1-year high of $23.50.
Cohu (NASDAQ:COHU) last issued its earnings results on Thursday, July 27th. The semiconductor company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Cohu had a return on equity of 11.59% and a net margin of 6.21%. The firm had revenue of $93.90 million for the quarter, compared to the consensus estimate of $92.91 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. Analysts predict that Cohu will post $1.54 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.24 annualized dividend and a dividend yield of 1.03%. Cohu’s dividend payout ratio (DPR) is presently 34.78%.
In related news, Director James A. Donahue sold 75,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $17.87, for a total transaction of $1,340,250.00. Following the completion of the sale, the director now owns 444,049 shares in the company, valued at approximately $7,935,155.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Hock Woo Chiang sold 10,844 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $18.77, for a total value of $203,541.88. Following the sale, the vice president now owns 90,332 shares of the company’s stock, valued at approximately $1,695,531.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,844 shares of company stock valued at $2,947,792. 5.97% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in COHU. Ameriprise Financial Inc. boosted its stake in Cohu by 326.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 684,149 shares of the semiconductor company’s stock valued at $10,769,000 after purchasing an additional 523,887 shares during the period. Oxford Asset Management bought a new stake in Cohu during the 1st quarter valued at approximately $2,917,000. Systematic Financial Management LP boosted its stake in Cohu by 20.6% during the 2nd quarter. Systematic Financial Management LP now owns 843,310 shares of the semiconductor company’s stock valued at $13,274,000 after purchasing an additional 143,783 shares during the period. Vanguard Group Inc. boosted its stake in Cohu by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 1,407,360 shares of the semiconductor company’s stock valued at $25,980,000 after purchasing an additional 129,316 shares during the period. Finally, Numeric Investors LLC bought a new stake in Cohu during the 2nd quarter valued at approximately $1,927,000. Hedge funds and other institutional investors own 83.86% of the company’s stock.
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. It develops, manufactures, sells and services a line of equipment capable of handling a range of integrated circuits and light-emitting diodes.
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