Cohu (NASDAQ:COHU) Price Target Raised to $70.00

Cohu (NASDAQ:COHU) had its target price upped by Stifel Nicolaus from $50.00 to $70.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 26.95% from the stock’s previous close.

Several other research analysts have also recently commented on the company. TD Cowen increased their price target on Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Evercore reissued an “outperform” rating and issued a $53.00 price objective on shares of Cohu in a research report on Tuesday, April 28th. Jefferies Financial Group set a $60.00 target price on shares of Cohu and gave the company a “buy” rating in a report on Friday, May 1st. Robert W. Baird began coverage on shares of Cohu in a research note on Wednesday. They issued an “outperform” rating and a $65.00 target price for the company. Finally, Zacks Research upgraded Cohu from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cohu presently has an average rating of “Moderate Buy” and a consensus price target of $59.29.

Cohu Trading Up 5.8%

NASDAQ COHU opened at $55.14 on Friday. Cohu has a 52 week low of $17.80 and a 52 week high of $74.60. 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 stock’s 50 day moving average price is $55.56 and its two-hundred day moving average price is $39.58. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -46.34 and a beta of 1.55.

Cohu (NASDAQ:COHU) last issued its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Cohu had a negative return on equity of 3.50% and a negative net margin of 11.54%.The business had revenue of $125.12 million for the quarter, compared to the consensus estimate of $122.14 million. During the same period in the prior year, the business earned ($0.02) earnings per share. Cohu’s revenue was up 29.3% compared to the same quarter last year. As a group, analysts anticipate that Cohu will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Luis A. Muller sold 45,154 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $46.62, for a total value of $2,105,079.48. Following the completion of the transaction, the chief executive officer directly owned 927,619 shares in the company, valued at approximately $43,245,597.78. The trade was a 4.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven J. Bilodeau sold 10,257 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $44.85, for a total transaction 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 trade represents a 16.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 90,668 shares of company stock valued at $4,248,016. Company insiders own 3.05% of the company’s stock.

Institutional Trading of Cohu

Institutional investors and hedge funds have recently modified their holdings of the business. Tudor Investment Corp ET AL acquired a new stake in Cohu in the third quarter valued at about $243,960,000. Vanguard Group Inc. grew its stake in shares of Cohu by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,361,164 shares of the semiconductor company’s stock worth $101,484,000 after buying an additional 57,618 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Cohu by 0.4% during the fourth quarter. Royce & Associates LP now owns 1,918,424 shares of the semiconductor company’s stock worth $44,642,000 after buying an additional 7,927 shares in the last quarter. State Street Corp lifted its stake in shares of Cohu by 0.3% in the 4th quarter. State Street Corp now owns 1,819,530 shares of the semiconductor company’s stock valued at $42,340,000 after acquiring an additional 5,439 shares during the last quarter. Finally, SG Capital Management LLC bought a new position in shares of Cohu in the 4th quarter valued at $33,174,000. 94.67% of the stock is currently owned by institutional investors.

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.