Cohu (NASDAQ:COHU) Shares Gap Down – Here’s Why

Cohu, Inc. (NASDAQ:COHU)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $25.39, but opened at $23.84. Cohu shares last traded at $24.22, with a volume of 41,108 shares traded.

Analyst Ratings Changes

COHU has been the topic of a number of recent research reports. Craig Hallum upgraded shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Friday, November 1st. The Goldman Sachs Group decreased their target price on Cohu from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Needham & Company LLC cut shares of Cohu from a “buy” rating to a “hold” rating in a research report on Monday. Finally, TD Cowen cut their target price on shares of Cohu from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.50.

Cohu Trading Down 7.1 %

The company has a quick ratio of 4.69, a current ratio of 6.38 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.10 billion, a P/E ratio of -21.85 and a beta of 1.47. The company has a fifty day simple moving average of $26.67 and a two-hundred day simple moving average of $27.17.

Cohu (NASDAQ:COHU) last announced its earnings results on Thursday, October 31st. The semiconductor company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Cohu had a negative return on equity of 1.01% and a negative net margin of 11.35%. The company had revenue of $95.30 million during the quarter, compared to analyst estimates of $95.75 million. During the same period in the previous year, the company posted $0.27 earnings per share. Cohu’s revenue for the quarter was down 36.8% on a year-over-year basis. On average, sell-side analysts expect that Cohu, Inc. will post -0.46 earnings per share for the current year.

Institutional Trading of Cohu

Several institutional investors and hedge funds have recently bought and sold shares of COHU. Mackenzie Financial Corp lifted its position in Cohu by 5.6% during the second quarter. Mackenzie Financial Corp now owns 7,939 shares of the semiconductor company’s stock worth $263,000 after acquiring an additional 419 shares during the last quarter. Oak Associates Ltd. OH increased its stake in shares of Cohu by 0.6% in the 2nd quarter. Oak Associates Ltd. OH now owns 83,704 shares of the semiconductor company’s stock valued at $2,771,000 after purchasing an additional 521 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Cohu by 49.2% during the third quarter. First Horizon Advisors Inc. now owns 1,622 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 535 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in Cohu by 3.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 36,725 shares of the semiconductor company’s stock valued at $944,000 after purchasing an additional 1,141 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Cohu by 5.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,002 shares of the semiconductor company’s stock worth $794,000 after purchasing an additional 1,247 shares in the last quarter. Institutional investors own 94.67% of the company’s stock.

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.