Cohu (NASDAQ:COHU) Shares Gap Up – Here’s Why

Cohu, Inc. (NASDAQ:COHU)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $25.10, but opened at $26.20. Cohu shares last traded at $26.6080, with a volume of 182,538 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Needham & Company LLC upgraded shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday. Cowen reaffirmed a “buy” rating on shares of Cohu in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cohu in a report on Wednesday, October 8th. B. Riley restated a “buy” rating on shares of Cohu in a research note on Thursday, October 30th. Finally, TD Cowen lifted their price target on shares of Cohu from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cohu presently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Cohu Stock Up 5.9%

The company has a current ratio of 4.39, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.24 billion, a P/E ratio of -16.95 and a beta of 1.27. The company’s 50 day moving average price is $23.63 and its two-hundred day moving average price is $21.50.

Cohu (NASDAQ:COHU) last announced its earnings results on Wednesday, October 29th. The semiconductor company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. The business had revenue of $126.25 million during the quarter, compared to analysts’ expectations of $124.98 million. Cohu had a negative net margin of 17.22% and a negative return on equity of 3.73%. The firm’s revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.08) earnings per share. Equities analysts forecast that Cohu, Inc. will post -0.36 earnings per share for the current year.

Institutional Trading of Cohu

Several hedge funds have recently bought and sold shares of COHU. Bessemer Group Inc. lifted its position in shares of Cohu by 45.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,564 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 488 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Cohu by 83.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,569 shares of the semiconductor company’s stock worth $32,000 after buying an additional 715 shares during the period. Parallel Advisors LLC increased its stake in Cohu by 869.6% in the 2nd quarter. Parallel Advisors LLC now owns 1,755 shares of the semiconductor company’s stock worth $34,000 after buying an additional 1,574 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Cohu by 202.7% during the second quarter. Smartleaf Asset Management LLC now owns 2,113 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 1,415 shares during the period. Finally, Quadrant Capital Group LLC bought a new stake in Cohu during the third quarter valued at about $81,000. Institutional investors own 94.67% 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.