Cohu (NASDAQ:COHU) Stock Price Down 7.5% – Here’s Why

Shares of Cohu, Inc. (NASDAQ:COHU) traded down 7.5% during mid-day trading on Monday . The company traded as low as $47.56 and last traded at $46.8820. Approximately 77,835 shares traded hands during trading, a decline of 93% from the average session volume of 1,119,529 shares. The stock had previously closed at $50.70.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Robert W. Baird initiated coverage on Cohu in a report on Wednesday, July 8th. They issued an “outperform” rating and a $65.00 price target on the stock. Needham & Company LLC boosted their target price on Cohu from $33.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, May 1st. TD Cowen raised their price target on shares of Cohu from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cohu in a report on Friday, July 17th. Finally, Jefferies Financial Group set a $60.00 price objective on shares of Cohu and gave the stock a “buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cohu currently has an average rating of “Moderate Buy” and an average price target of $63.86.

Cohu Price Performance

The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -39.11 and a beta of 1.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.31 and a current ratio of 6.43. The company has a 50-day simple moving average of $56.71 and a two-hundred day simple moving average of $41.90.

Cohu (NASDAQ:COHU) last released its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). Cohu had a negative net margin of 11.54% and a negative return on equity of 3.50%. The company had revenue of $125.12 million during the quarter, compared to analyst estimates of $122.14 million. During the same period in the previous year, the company posted ($0.02) EPS. The company’s quarterly revenue was up 29.3% compared to the same quarter last year. As a group, equities research analysts forecast that Cohu, Inc. will post 0.17 EPS for the current year.

Insider Transactions at Cohu

In other news, Director Steven J. Bilodeau sold 10,257 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $44.85, for a total value of $460,026.45. Following the sale, the director directly owned 52,272 shares of the company’s stock, valued at approximately $2,344,399.20. This represents a 16.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James A. Donahue sold 10,257 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $46.77, for a total transaction of $479,719.89. Following the completion of the sale, the director owned 3,578 shares of the company’s stock, valued at $167,343.06. This trade represents a 74.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 89,668 shares of company stock valued at $4,210,016. 3.05% of the stock is owned by company insiders.

Institutional Trading of Cohu

Institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cohu by 3.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,214 shares of the semiconductor company’s stock valued at $400,000 after buying an additional 905 shares during the last quarter. Caxton Associates LLP bought a new stake in Cohu in the 1st quarter valued at $276,000. Jane Street Group LLC lifted its holdings in Cohu by 2,042.7% during the 1st quarter. Jane Street Group LLC now owns 162,674 shares of the semiconductor company’s stock valued at $2,393,000 after purchasing an additional 155,082 shares during the last quarter. American Century Companies Inc. lifted its holdings in Cohu by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 114,361 shares of the semiconductor company’s stock valued at $2,200,000 after purchasing an additional 5,297 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Cohu by 478.4% during the second quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company’s stock worth $22,612,000 after purchasing an additional 972,088 shares during the period. 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.