Legacy Capital Group California Inc. Purchases Shares of 18,301 Cohu, Inc. $COHU

Legacy Capital Group California Inc. acquired a new stake in Cohu, Inc. (NASDAQ:COHU) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,301 shares of the semiconductor company’s stock, valued at approximately $372,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. lifted its position in Cohu by 478.4% in the 2nd quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company’s stock valued at $22,612,000 after acquiring an additional 972,088 shares in the last quarter. Tributary Capital Management LLC increased its holdings in Cohu by 131.5% during the 3rd quarter. Tributary Capital Management LLC now owns 1,520,386 shares of the semiconductor company’s stock worth $30,909,000 after purchasing an additional 863,654 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Cohu by 20.0% in the second quarter. Frontier Capital Management Co. LLC now owns 1,355,973 shares of the semiconductor company’s stock worth $26,089,000 after purchasing an additional 226,453 shares during the last quarter. First Eagle Investment Management LLC bought a new position in shares of Cohu in the second quarter valued at approximately $3,950,000. Finally, Highbridge Capital Management LLC bought a new position in shares of Cohu in the third quarter valued at approximately $3,509,000. 94.67% of the stock is owned by institutional investors.

Cohu Stock Down 3.8%

COHU stock opened at $27.66 on Friday. The stock has a market cap of $1.30 billion, a P/E ratio of -17.40 and a beta of 1.27. The company has a current ratio of 6.88, a quick ratio of 5.69 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $28.84 and its two-hundred day simple moving average is $24.53. Cohu, Inc. has a 1-year low of $12.57 and a 1-year high of $34.96.

Cohu (NASDAQ:COHU) last announced its earnings results on Thursday, February 12th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.22). The business had revenue of $122.23 million for the quarter, compared to analysts’ expectations of $122.09 million. Cohu had a negative net margin of 16.40% and a negative return on equity of 3.76%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.15) earnings per share. Analysts expect that Cohu, Inc. will post -0.36 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on COHU shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cohu in a report on Wednesday, January 21st. Stifel Nicolaus raised their price objective on Cohu from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. B. Riley Financial cut their price objective on shares of Cohu from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 13th. TD Cowen upped their target price on shares of Cohu from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, Needham & Company LLC raised their price target on shares of Cohu from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, Cohu presently has an average rating of “Hold” and an average target price of $33.25.

Cohu 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.