Summit Global Investments Makes New $714,000 Investment in Cohu, Inc. $COHU

Summit Global Investments purchased a new stake in Cohu, Inc. (NASDAQ:COHU) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,664 shares of the semiconductor company’s stock, valued at approximately $714,000.

A number of other hedge funds also recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new position in Cohu in the 1st quarter worth approximately $705,000. Vanguard Group Inc. boosted its position in Cohu by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,361,164 shares of the semiconductor company’s stock worth $101,484,000 after acquiring an additional 57,618 shares during the period. Mizuho Markets Americas LLC grew its stake in shares of Cohu by 349.3% in the fourth quarter. Mizuho Markets Americas LLC now owns 302,838 shares of the semiconductor company’s stock worth $7,047,000 after purchasing an additional 235,438 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Cohu during the first quarter valued at $634,000. Finally, Leeward Investments LLC MA raised its stake in shares of Cohu by 4.0% during the first quarter. Leeward Investments LLC MA now owns 646,133 shares of the semiconductor company’s stock valued at $19,785,000 after purchasing an additional 24,755 shares in the last quarter. Institutional investors own 94.67% of the company’s stock.

Cohu Price Performance

Shares of Cohu stock opened at $59.30 on Friday. Cohu, Inc. has a 52 week low of $18.67 and a 52 week high of $74.60. 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 $2.81 billion, a PE ratio of -71.44 and a beta of 1.59. The company’s 50-day moving average price is $56.75 and its two-hundred day moving average price is $44.17.

Cohu (NASDAQ:COHU) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.26 earnings per share 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 during the quarter, compared to analyst estimates of $144.20 million. During the same quarter last year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Cohu, Inc. will post 0.47 EPS for the current fiscal year.

Insider Activity

In other news, Director Andrew M. Caggia sold 15,252 shares of the stock in a transaction 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 completion of the sale, the director owned 64,778 shares in the company, valued at approximately $3,351,613.72. This represents a 19.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Luis A. Muller sold 45,154 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $46.62, for a total value of $2,105,079.48. Following the sale, the chief executive officer directly owned 927,619 shares of the company’s stock, valued at approximately $43,245,597.78. This represents a 4.64% decrease in their ownership of the stock. 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 a total of 97,975 shares of company stock valued at $4,664,219 in the last ninety days. 3.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

COHU has been the subject of several research analyst reports. Evercore reaffirmed an “outperform” rating and issued a $53.00 price objective on shares of Cohu in a report on Tuesday, April 28th. TD Cowen boosted their price target on shares of Cohu from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Zacks Research raised shares of Cohu from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Robert W. Baird began coverage on shares of Cohu in a research note on Wednesday, July 8th. They set an “outperform” rating and a $65.00 price objective on the stock. Finally, Jefferies Financial Group reissued a “buy” rating and set a $74.00 target price on shares of Cohu in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $68.75.

About Cohu

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.