Northern Trust Corp Buys 34,478 Shares of Cohu, Inc. (COHU)
Northern Trust Corp grew its stake in shares of Cohu, Inc. (NASDAQ:COHU) by 9.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 386,590 shares of the semiconductor company’s stock after purchasing an additional 34,478 shares during the quarter. Northern Trust Corp owned 1.38% of Cohu worth $6,085,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Citigroup Inc. lifted its stake in shares of Cohu by 54.2% during the second quarter. Citigroup Inc. now owns 35,296 shares of the semiconductor company’s stock worth $555,000 after purchasing an additional 12,412 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Cohu during the second quarter worth about $318,000. Thrivent Financial For Lutherans lifted its stake in shares of Cohu by 8.0% during the second quarter. Thrivent Financial For Lutherans now owns 15,440 shares of the semiconductor company’s stock worth $243,000 after purchasing an additional 1,140 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Cohu by 14.9% during the second quarter. PNC Financial Services Group Inc. now owns 12,452 shares of the semiconductor company’s stock worth $197,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in shares of Cohu during the second quarter worth about $258,000. Institutional investors own 81.74% of the company’s stock.
In related news, VP Hock Woo Chiang sold 10,844 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $18.77, for a total value of $203,541.88. Following the completion of the sale, the vice president now directly owns 90,332 shares of the company’s stock, valued at $1,695,531.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James A. Donahue sold 75,000 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $23.85, for a total value of $1,788,750.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 222,594 shares of company stock valued at $4,924,972. 6.46% of the stock is owned by corporate insiders.
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Several research firms recently commented on COHU. B. Riley boosted their price target on Cohu from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $24.00 price target on shares of Cohu in a research note on Friday, October 27th. Zacks Investment Research upgraded Cohu from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a research note on Tuesday, November 7th. ValuEngine cut Cohu from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, BidaskClub upgraded Cohu from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $25.40.
Cohu, Inc. (NASDAQ COHU) opened at $24.67 on Wednesday. The company has a quick ratio of 2.89, a current ratio of 3.62 and a debt-to-equity ratio of 0.02. Cohu, Inc. has a one year low of $11.26 and a one year high of $26.17. The company has a market capitalization of $689.77, a PE ratio of 19.12 and a beta of 0.89.
Cohu (NASDAQ:COHU) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.04. The firm had revenue of $93.70 million during the quarter, compared to analyst estimates of $91.43 million. Cohu had a return on equity of 14.67% and a net margin of 8.26%. Cohu’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. analysts forecast that Cohu, Inc. will post 1.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, November 17th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.97%. The ex-dividend date is Thursday, November 16th. Cohu’s dividend payout ratio is currently 24.00%.
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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