Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 521,220 Cohu, Inc. $COHU

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Cohu, Inc. (NASDAQ:COHU) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 521,220 shares of the semiconductor company’s stock, valued at approximately $38,523,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cohu by 3.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,214 shares of the semiconductor company’s stock worth $400,000 after purchasing an additional 905 shares during the last quarter. Caxton Associates LLP purchased a new stake in Cohu in the first quarter valued at $276,000. Jane Street Group LLC grew its position 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 worth $2,393,000 after purchasing an additional 155,082 shares during the period. American Century Companies Inc. raised its stake in shares of 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 buying an additional 5,297 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Cohu by 478.4% during the 2nd quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company’s stock valued at $22,612,000 after buying an additional 972,088 shares during the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.

Insider Activity

In related news, Director Nina Richardson sold 3,055 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $51.54, for a total transaction of $157,454.70. Following the transaction, the director directly owned 39,093 shares in the company, valued at approximately $2,014,853.22. The trade was a 7.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrew M. Caggia sold 15,252 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $51.74, for a total transaction of $789,138.48. Following the transaction, the director owned 64,778 shares in the company, valued at $3,351,613.72. The trade was a 19.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,307 shares of company stock worth $1,630,573 over the last three months. Insiders own 3.05% of the company’s stock.

Cohu Trading Down 5.6%

COHU stock opened at $51.30 on Tuesday. Cohu, Inc. has a 12-month low of $18.67 and a 12-month high of $74.60. The business’s 50-day moving average is $56.56 and its 200 day moving average is $45.41. The company has a current ratio of 5.74, a quick ratio of 4.72 and a debt-to-equity ratio of 0.37. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -61.81 and a beta of 1.59.

Cohu (NASDAQ:COHU) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.14 by $0.12. The firm had revenue of $149.00 million during the quarter, compared to analysts’ expectations of $144.20 million. Cohu had a negative return on equity of 1.96% and a negative net margin of 7.43%.The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 earnings per share. On average, sell-side analysts anticipate that Cohu, Inc. will post 0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COHU has been the topic of a number of recent research reports. Craig Hallum restated a “buy” rating and issued a $74.00 target price on shares of Cohu in a research note on Friday, July 31st. Jefferies Financial Group reiterated a “buy” rating and set a $74.00 price target on shares of Cohu in a research report on Friday, July 31st. Needham & Company LLC upped their price objective on Cohu from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Zacks Research raised shares of Cohu from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Finally, Evercore reaffirmed an “outperform” rating and set a $53.00 target price on shares of Cohu in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $68.75.

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.