Meros Investment Management LP Takes Position in Cohu, Inc. (NASDAQ:COHU)

Meros Investment Management LP acquired a new position in Cohu, Inc. (NASDAQ:COHU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,000 shares of the semiconductor company’s stock, valued at approximately $257,000.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Cohu by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,114,394 shares of the semiconductor company’s stock valued at $28,645,000 after acquiring an additional 9,563 shares during the period. Barclays PLC grew its position in Cohu by 331.6% in the third quarter. Barclays PLC now owns 77,600 shares of the semiconductor company’s stock worth $1,994,000 after acquiring an additional 59,622 shares in the last quarter. First National Bank of Omaha increased its position in shares of Cohu by 63.0% during the 3rd quarter. First National Bank of Omaha now owns 17,777 shares of the semiconductor company’s stock valued at $457,000 after purchasing an additional 6,873 shares during the last quarter. Dean Investment Associates LLC raised its holdings in shares of Cohu by 131.2% during the 3rd quarter. Dean Investment Associates LLC now owns 96,815 shares of the semiconductor company’s stock valued at $2,488,000 after buying an additional 54,937 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in Cohu by 3.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 36,725 shares of the semiconductor company’s stock worth $944,000 after buying an additional 1,141 shares during the last quarter. 94.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Needham & Company LLC lifted their price target on shares of Cohu from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Cowen lowered their price target on shares of Cohu from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group lowered their target price on Cohu from $26.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Finally, Craig Hallum upgraded Cohu from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Cohu currently has a consensus rating of “Hold” and an average target price of $31.50.

Insider Buying and Selling

In related news, Director Nina Richardson sold 4,999 shares of Cohu stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $24.14, for a total transaction of $120,675.86. Following the sale, the director now owns 28,313 shares of the company’s stock, valued at approximately $683,475.82. This trade represents a 15.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 5,599 shares of company stock valued at $136,724. 2.70% of the stock is owned by corporate insiders.

Cohu Stock Performance

Shares of COHU stock opened at $27.05 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.69 and a current ratio of 6.38. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -25.05 and a beta of 1.51. Cohu, Inc. has a one year low of $22.80 and a one year high of $36.60. The company’s 50-day moving average is $26.03 and its 200 day moving average is $28.02.

Cohu (NASDAQ:COHU) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The company had revenue of $95.30 million for the quarter, compared to analysts’ expectations of $95.75 million. Cohu had a negative net margin of 11.35% and a negative return on equity of 1.01%. The firm’s revenue for the quarter was down 36.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 earnings per share. Sell-side analysts expect that Cohu, Inc. will post -0.46 EPS for the current fiscal year.

Cohu Company Profile

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.