Cohu (NASDAQ:COHU) Shares Down 8.8% – Here’s What Happened

Cohu, Inc. (NASDAQ:COHU) was down 8.8% during trading on Thursday . The company traded as low as $63.67 and last traded at $63.0070. Approximately 184,795 shares were traded during mid-day trading, a decline of 84% from the average session volume of 1,129,709 shares. The stock had previously closed at $69.11.

Analysts Set New Price Targets

A number of brokerages have weighed in on COHU. 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. Stifel Nicolaus increased their price objective on shares of Cohu from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Zacks Research upgraded shares of Cohu from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Evercore reissued an “outperform” rating and issued a $53.00 target price on shares of Cohu in a research report on Tuesday, April 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a research note on Monday, April 20th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cohu has an average rating of “Moderate Buy” and an average price target of $52.33.

Cohu Stock Performance

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 market capitalization of $2.82 billion, a price-to-earnings ratio of -50.50 and a beta of 1.54. The firm has a 50-day simple moving average of $54.30 and a two-hundred day simple moving average of $38.21.

Cohu (NASDAQ:COHU) last posted 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). The business had revenue of $125.12 million during the quarter, compared to analysts’ expectations of $122.14 million. Cohu had a negative net margin of 11.54% and a negative return on equity of 3.50%. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) EPS. On average, sell-side analysts anticipate that Cohu, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity at Cohu

In other news, SVP Christopher Bohrson sold 1,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $63.88, for a total transaction of $63,880.00. Following the sale, the senior vice president owned 171,702 shares of the company’s stock, valued at approximately $10,968,323.76. This represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey D. Jones sold 13,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $46.84, for a total value of $608,920.00. Following the sale, the chief financial officer directly owned 343,792 shares in the company, valued at $16,103,217.28. This represents a 3.64% decrease in their position. 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. Insiders sold 90,668 shares of company stock worth $4,248,016 over the last 90 days. 3.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new stake in Cohu during the 1st quarter worth about $31,000. Kestra Advisory Services LLC purchased a new position in Cohu during the 4th quarter worth approximately $34,000. Farther Finance Advisors LLC increased its position in Cohu by 45.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company’s stock worth $34,000 after buying an additional 452 shares during the period. Los Angeles Capital Management LLC acquired a new position in Cohu during the fourth quarter worth approximately $37,000. Finally, Gen Wealth Partners Inc purchased a new stake in Cohu in the fourth quarter valued at approximately $44,000. 94.67% of the stock is owned by institutional investors and hedge funds.

Cohu Company Profile

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.