Cohu (NASDAQ:COHU) Hits New 52-Week Low Following Analyst Downgrade

Cohu, Inc. (NASDAQ:COHU)’s share price reached a new 52-week low during mid-day trading on Thursday after Needham & Company LLC lowered their price target on the stock from $37.00 to $33.00. Needham & Company LLC currently has a buy rating on the stock. Cohu traded as low as $27.53 and last traded at $28.90, with a volume of 70161 shares. The stock had previously closed at $31.99.

A number of other equities analysts have also commented on the stock. Craig Hallum decreased their price objective on shares of Cohu from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. B. Riley decreased their target price on Cohu from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Citigroup lowered Cohu from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research report on Monday, July 15th. Finally, TD Cowen decreased their price objective on Cohu from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Cohu presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.17.

Insider Buying and Selling at Cohu

In other Cohu news, Director William Bendush sold 2,591 shares of Cohu stock in a transaction on Monday, May 13th. The shares were sold at an average price of $29.83, for a total transaction of $77,289.53. Following the completion of the sale, the director now owns 36,662 shares of the company’s stock, valued at approximately $1,093,627.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Christopher Bohrson sold 2,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now owns 130,339 shares of the company’s stock, valued at $3,910,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Bendush sold 2,591 shares of Cohu stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $29.83, for a total value of $77,289.53. Following the completion of the sale, the director now directly owns 36,662 shares in the company, valued at approximately $1,093,627.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,091 shares of company stock worth $298,755. Insiders own 2.70% of the company’s stock.

Institutional Trading of Cohu

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its stake in shares of Cohu by 1,256.3% during the 2nd quarter. Signaturefd LLC now owns 868 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 804 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Cohu during the fourth quarter worth about $35,000. First Horizon Advisors Inc. increased its position in Cohu by 558.8% during the second quarter. First Horizon Advisors Inc. now owns 1,087 shares of the semiconductor company’s stock worth $36,000 after buying an additional 922 shares during the last quarter. CWM LLC raised its stake in Cohu by 158.1% in the second quarter. CWM LLC now owns 1,533 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 939 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Cohu in the second quarter valued at approximately $97,000. Institutional investors and hedge funds own 94.67% of the company’s stock.

Cohu Price Performance

The company has a current ratio of 6.29, a quick ratio of 4.63 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.38 billion, a P/E ratio of -639.80 and a beta of 1.58. The company has a 50 day moving average price of $32.52 and a 200 day moving average price of $31.94.

Cohu (NASDAQ:COHU) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cohu had a positive return on equity of 3.91% and a negative net margin of 0.38%. The firm had revenue of $107.61 million for the quarter, compared to analyst estimates of $107.00 million. On average, equities analysts predict that Cohu, Inc. will post -0.07 EPS for the current fiscal year.

About Cohu

Cohu, Inc, through its subsidiaries, provides semiconductor test equipment and services in China, the United States, Taiwan, Malaysia, the Philippines, and internationally. The company supplies semiconductor test and inspection handlers, micro-electromechanical system (MEMS) test modules, test contactors, thermal sub-systems, and semiconductor automated test equipment for semiconductor manufacturers and test subcontractors.