Cohu (NASDAQ:COHU) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Cohu, Inc. (NASDAQ:COHU) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $27.28 and traded as high as $27.44. Cohu shares last traded at $26.37, with a volume of 283,230 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have commented on COHU. TD Cowen cut their price objective on shares of Cohu from $36.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 1st. The Goldman Sachs Group lowered their price objective on Cohu from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Needham & Company LLC lifted their target price on Cohu from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Craig Hallum upgraded Cohu from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Cohu currently has a consensus rating of “Hold” and a consensus price target of $31.50.

Cohu Price Performance

The company has a market capitalization of $1.18 billion, a PE ratio of -23.51 and a beta of 1.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.38 and a quick ratio of 4.69. The stock’s 50 day simple moving average is $26.71 and its 200-day simple moving average is $27.28.

Cohu (NASDAQ:COHU) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $95.75 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s revenue was down 36.8% compared to the same quarter last year. As a group, equities analysts forecast that Cohu, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cohu

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its position in Cohu by 529.3% in the second quarter. Envestnet Asset Management Inc. now owns 70,880 shares of the semiconductor company’s stock valued at $2,346,000 after acquiring an additional 59,617 shares during the last quarter. Oak Associates Ltd. OH grew 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. Dimensional Fund Advisors LP raised its position in Cohu by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,161,347 shares of the semiconductor company’s stock worth $104,638,000 after buying an additional 51,640 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Cohu by 6.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 103,615 shares of the semiconductor company’s stock worth $3,430,000 after acquiring an additional 6,239 shares during the period. Finally, 272 Capital LP increased its stake in shares of Cohu by 137.9% during the second quarter. 272 Capital LP now owns 58,654 shares of the semiconductor company’s stock worth $1,941,000 after acquiring an additional 34,000 shares during the period. Institutional investors and hedge funds 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.