Legal & General Group Plc Acquires Shares of 105,523 Cohu, Inc. $COHU

Legal & General Group Plc acquired a new position in Cohu, Inc. (NASDAQ:COHU) in the second quarter, HoldingsChannel.com reports. The fund acquired 105,523 shares of the semiconductor company’s stock, valued at approximately $7,802,000.

Several other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Cohu in the 2nd quarter valued at about $48,000. Allworth Financial LP purchased a new position in Cohu during the second quarter worth approximately $65,000. Hollencrest Capital Management purchased a new position in Cohu during the first quarter worth approximately $31,000. Kestra Advisory Services LLC acquired a new stake in Cohu in the fourth quarter valued at approximately $34,000. Finally, Farther Finance Advisors LLC increased its position in shares of Cohu by 45.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 452 shares in the last quarter. 94.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COHU has been the topic of a number of recent analyst reports. Robert W. Baird initiated coverage on Cohu in a research report on Wednesday, July 8th. They set an “outperform” rating and a $65.00 target price on the stock. Needham & Company LLC upped their price objective on shares of Cohu from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Craig Hallum reaffirmed a “buy” rating and set a $74.00 price objective on shares of Cohu in a report on Friday, July 31st. TD Cowen lifted their target price on shares of Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Finally, B. Riley Financial boosted their price target on Cohu from $65.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.75.

Insider Transactions at Cohu

In other news, Director Nina Richardson sold 3,055 shares of Cohu stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $51.54, for a total transaction of $157,454.70. Following the sale, the director owned 39,093 shares of the company’s stock, valued at approximately $2,014,853.22. The trade was a 7.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrew M. Caggia sold 15,252 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $789,138.48. Following the completion of the transaction, the director owned 64,778 shares in the company, valued at $3,351,613.72. This represents a 19.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,307 shares of company stock worth $1,630,573 in the last 90 days. Insiders own 3.05% of the company’s stock.

Cohu Trading Down 4.2%

Shares of COHU stock opened at $44.16 on Wednesday. The company has a current ratio of 5.74, a quick ratio of 4.72 and a debt-to-equity ratio of 0.37. Cohu, Inc. has a twelve month low of $18.67 and a twelve month high of $74.60. The company’s 50-day moving average price is $54.38 and its 200-day moving average price is $46.15. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -53.20 and a beta of 1.59.

Cohu (NASDAQ:COHU) last issued its earnings results on Thursday, July 30th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.12. The company had revenue of $149.00 million for the quarter, compared to the consensus estimate of $144.20 million. Cohu had a negative net margin of 7.43% and a negative return on equity of 1.96%. Cohu’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, equities analysts predict that Cohu, Inc. will post 0.47 earnings per share for the current year.

Cohu Company 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.