Cohu (NASDAQ:COHU) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cohu (NASDAQ:COHU) from a hold rating to a buy rating in a report issued on Saturday morning,Wall Street Zen reports.

COHU has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Cohu in a report on Thursday, October 29th. B. Riley Financial lifted their target price on shares of Cohu from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Stifel Nicolaus lifted their target price on shares of Cohu from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Robert W. Baird set a $83.00 price target on shares of Cohu in a research note on Thursday, October 29th. Finally, Zacks Research cut shares of Cohu from a “strong-buy” rating to a “hold” rating in a report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $72.50.

Cohu Price Performance

Shares of NASDAQ COHU opened at $43.40 on Friday. The business’s 50 day moving average price is $56.02 and its two-hundred day moving average price is $47.37. The company has a market cap of $2.05 billion, a PE ratio of -83.46 and a beta of 1.60. The company has a quick ratio of 4.24, a current ratio of 5.16 and a debt-to-equity ratio of 0.36. Cohu has a twelve month low of $21.10 and a twelve month high of $75.72.

Cohu (NASDAQ:COHU) last released its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. Cohu had a positive return on equity of 1.47% and a negative net margin of 3.97%. The company had revenue of $172.96 million during the quarter, compared to analysts’ expectations of $170.25 million. During the same period last year, the firm posted ($0.06) earnings per share. The business’s revenue was up 37.0% on a year-over-year basis. On average, analysts predict that Cohu will post 0.63 EPS for the current year.

Insider Activity

In other Cohu news, SVP Christopher Bohrson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $55.82, for a total value of $558,200.00. Following the transaction, the senior vice president directly owned 159,702 shares of the company’s stock, valued at $8,914,565.64. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Luis A. Muller sold 55,794 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $60.00, for a total transaction of $3,347,640.00. Following the completion of the transaction, the chief executive officer owned 871,825 shares of the company’s stock, valued at $52,309,500. The trade was a 6.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 116,692 shares of company stock worth $7,374,716. Insiders own 3.05% of the company’s stock.

Hedge Funds Weigh In On Cohu

A number of institutional investors have recently modified their holdings of COHU. BlackRock Inc. acquired a new position in Cohu during the second quarter worth about $545,932,000. The Manufacturers Life Insurance Company bought a new position in shares of Cohu during the second quarter valued at $77,814,000. Royce & Associates LP lifted its holdings in shares of Cohu by 1.6% during the third quarter. Royce & Associates LP now owns 953,463 shares of the semiconductor company’s stock worth $64,969,000 after purchasing an additional 15,433 shares during the period. Paradigm Capital Management Inc. NY acquired a new position in shares of Cohu during the second quarter worth $42,794,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cohu during the second quarter worth $38,523,000. Institutional investors and hedge funds own 94.67% of the company’s stock.

About Cohu

Cohu, Inc designs and manufactures equipment and components used to test, inspect, and handle semiconductors. Its products include semiconductor test handlers, inspection systems, test contactors, and thermal subsystems that support testing at various stages of chip production.

The company serves semiconductor manufacturers and outsourced semiconductor assembly and test providers around the world. Its equipment is used across a range of semiconductor applications, including devices for automotive, industrial, communications, and consumer markets.

Founded in 1947, Cohu has expanded its semiconductor equipment business through organic development and acquisitions.