Oak Associates Ltd. OH Sells 20,718 Shares of Cohu, Inc. $COHU

Oak Associates Ltd. OH cut its holdings in Cohu, Inc. (NASDAQ:COHU) by 22.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,101 shares of the semiconductor company’s stock after selling 20,718 shares during the period. Oak Associates Ltd. OH owned approximately 0.15% of Cohu worth $2,238,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Stanley Laman Group Ltd. lifted its stake in Cohu by 27.8% in the fourth quarter. Stanley Laman Group Ltd. now owns 195,536 shares of the semiconductor company’s stock valued at $4,550,000 after buying an additional 42,593 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Cohu during the 1st quarter valued at $705,000. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 57,618 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in Cohu by 349.3% in the fourth quarter. Mizuho Markets Americas LLC now owns 302,838 shares of the semiconductor company’s stock worth $7,047,000 after purchasing an additional 235,438 shares during the period. Finally, Leeward Investments LLC MA increased its stake in Cohu by 4.0% in the first quarter. Leeward Investments LLC MA now owns 646,133 shares of the semiconductor company’s stock valued at $19,785,000 after purchasing an additional 24,755 shares in the last quarter. 94.67% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Steven J. Bilodeau sold 10,257 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $44.85, for a total transaction of $460,026.45. Following the transaction, the director directly owned 52,272 shares of the company’s stock, valued at $2,344,399.20. This trade represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey D. Jones sold 13,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $46.84, for a total transaction of $608,920.00. Following the transaction, the chief financial officer owned 343,792 shares in the company, valued at approximately $16,103,217.28. This trade represents a 3.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 89,668 shares of company stock worth $4,210,016. Company insiders own 3.05% of the company’s stock.

Cohu Stock Down 0.9%

COHU stock opened at $54.51 on Friday. The firm has a market capitalization of $2.57 billion, a PE ratio of -45.81 and a beta of 1.55. The company has a quick ratio of 5.31, a current ratio of 6.43 and a debt-to-equity ratio of 0.37. Cohu, Inc. has a twelve month low of $17.80 and a twelve month high of $74.60. The stock’s 50 day moving average is $56.64 and its 200-day moving average is $41.72.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. TD Cowen raised their target price on Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Evercore reiterated an “outperform” rating and issued a $53.00 price target on shares of Cohu in a report on Tuesday, April 28th. Needham & Company LLC boosted their price objective on Cohu from $33.00 to $54.00 and gave the company a “buy” rating in a report on Friday, May 1st. Robert W. Baird began coverage on Cohu in a report on Wednesday, July 8th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, Jefferies Financial Group set a $60.00 price target on shares of Cohu and gave the company a “buy” rating in a research report on Friday, May 1st. One 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 given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.86.

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.