Cohu (NASDAQ:COHU) Shares Gap Down – Should You Sell?

Cohu, Inc. (NASDAQ:COHU)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $58.70, but opened at $54.52. Cohu shares last traded at $53.4750, with a volume of 166,565 shares traded.

Analyst Ratings Changes

COHU has been the subject of a number of recent research reports. TD Cowen lifted their target price on Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Jefferies Financial Group set a $60.00 target price on Cohu and gave the stock a “buy” rating in a research note on Friday, May 1st. Needham & Company LLC increased their price target on Cohu from $33.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cohu in a research note on Monday, April 20th. Finally, Zacks Research upgraded Cohu from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.33.

Cohu Stock Performance

The stock’s 50-day simple moving average is $55.14 and its 200 day simple moving average is $38.96. The company has a market capitalization of $2.45 billion, a PE ratio of -43.62 and a beta of 1.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.31 and a current ratio of 6.43.

Cohu (NASDAQ:COHU) last released its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $125.12 million for the quarter, compared to analyst estimates of $122.14 million. Cohu had a negative return on equity of 3.50% and a negative net margin of 11.54%.The company’s revenue was up 29.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) earnings per share. As a group, research analysts expect that Cohu, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Cohu

In related news, CEO Luis A. Muller sold 45,154 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $46.62, for a total value of $2,105,079.48. Following the completion of the sale, the chief executive officer owned 927,619 shares in the company, valued at $43,245,597.78. This represents a 4.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director James A. Donahue sold 10,257 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $46.77, for a total transaction of $479,719.89. Following the sale, the director owned 3,578 shares of the company’s stock, valued at approximately $167,343.06. This represents a 74.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 90,668 shares of company stock valued at $4,248,016 over the last 90 days. 3.05% of the stock is owned by insiders.

Institutional Investors Weigh In On Cohu

Institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new position in Cohu during the 1st quarter worth approximately $31,000. Farther Finance Advisors LLC lifted its holdings in shares of Cohu by 45.0% in the 4th 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 during the period. Kestra Advisory Services LLC purchased a new stake in shares of Cohu in the fourth quarter valued at approximately $34,000. Los Angeles Capital Management LLC acquired a new position in Cohu during the fourth quarter worth $37,000. Finally, Smartleaf Asset Management LLC raised its position in Cohu by 202.7% in the second quarter. Smartleaf Asset Management LLC now owns 2,113 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 1,415 shares in the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

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.