Man Group plc Buys New Stake in Cohu, Inc. $COHU

Man Group plc purchased a new stake in shares of Cohu, Inc. (NASDAQ:COHU) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 114,570 shares of the semiconductor company’s stock, valued at approximately $8,468,000.

A number of other institutional investors have also made changes to their positions in COHU. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Cohu during the 2nd quarter worth about $48,000. Allworth Financial LP bought a new position in Cohu in the 2nd quarter worth approximately $65,000. Hollencrest Capital Management acquired a new position in shares of Cohu during the first quarter worth approximately $31,000. Kestra Advisory Services LLC bought a new stake in shares of Cohu in the fourth quarter valued at approximately $34,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Cohu by 45.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 452 shares during the period. 94.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on COHU. B. Riley Financial raised their price objective on shares of Cohu from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Cohu in a report on Friday, July 17th. Craig Hallum reissued a “buy” rating and issued a $74.00 price target on shares of Cohu in a report on Friday, July 31st. Jefferies Financial Group restated a “buy” rating and issued a $74.00 price target on shares of Cohu in a research report on Friday, July 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Cohu from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $68.75.

Insider Activity at Cohu

In other Cohu news, Director Nina Richardson sold 3,055 shares of the company’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 sale, the director directly owned 39,093 shares of the company’s stock, valued at approximately $2,014,853.22. This represents a 7.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrew M. Caggia sold 15,252 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $51.74, for a total transaction of $789,138.48. Following the sale, the director directly owned 64,778 shares of the company’s stock, valued at approximately $3,351,613.72. The trade was a 19.06% decrease in their position. 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 valued at $1,630,573 in the last ninety days. Insiders own 3.05% of the company’s stock.

Cohu Stock Performance

Cohu stock opened at $48.00 on Friday. The firm has a market capitalization of $2.27 billion, a P/E ratio of -57.83 and a beta of 1.59. The stock has a fifty day moving average price of $55.26 and a two-hundred day moving average price of $45.89. Cohu, Inc. has a 52-week low of $18.67 and a 52-week high of $74.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.74 and a quick ratio of 4.72.

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

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.