Cohu (NASDAQ:COHU) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Cohu, Inc. (NASDAQ:COHU) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.42 and traded as high as $31.78. Cohu shares last traded at $30.23, with a volume of 556,159 shares traded.

Wall Street Analyst Weigh In

COHU has been the subject of a number of research analyst reports. TD Cowen upped their price target on Cohu from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Evercore assumed coverage on shares of Cohu in a research report on Monday, March 16th. They set an “outperform” rating and a $35.00 target price on the stock. Zacks Research cut shares of Cohu from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cohu in a report on Wednesday, January 21st. Finally, Needham & Company LLC raised their price target on shares of Cohu from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Five equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.00.

Cohu Price Performance

The stock has a 50-day simple moving average of $29.86 and a 200 day simple moving average of $25.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.69 and a current ratio of 6.88. The company has a market cap of $1.41 billion, a P/E ratio of -18.86 and a beta of 1.27.

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

Insiders Place Their Bets

In other Cohu news, SVP Christopher Bohrson sold 1,000 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $28.57, for a total value of $28,570.00. Following the sale, the senior vice president owned 176,202 shares of the company’s stock, valued at $5,034,091.14. The trade was a 0.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cohu

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. increased its stake in Cohu by 14.9% in the fourth quarter. Invesco Ltd. now owns 228,939 shares of the semiconductor company’s stock valued at $5,327,000 after acquiring an additional 29,746 shares during the period. Summit Global Investments bought a new position in Cohu during the fourth quarter worth about $225,000. nVerses Capital LLC bought a new stake in shares of Cohu in the 4th quarter valued at approximately $269,000. Voloridge Investment Management LLC raised its holdings in shares of Cohu by 37.4% in the 4th quarter. Voloridge Investment Management LLC now owns 334,429 shares of the semiconductor company’s stock worth $7,782,000 after buying an additional 91,094 shares in the last quarter. Finally, Toronto Dominion Bank bought a new position in shares of Cohu during the 4th quarter worth approximately $8,555,000. 94.67% of the stock is owned by institutional investors.

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.