Engineers Gate Manager LP Buys New Holdings in Cohu, Inc. $COHU

Engineers Gate Manager LP purchased a new position in shares of Cohu, Inc. (NASDAQ:COHU) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 24,877 shares of the semiconductor company’s stock, valued at approximately $1,839,000.

Other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in Cohu in the second quarter valued at approximately $143,000. Squarepoint Ops LLC purchased a new position in shares of Cohu in the second quarter worth $1,665,000. Allworth Financial LP increased its stake in shares of Cohu by 109.8% in the second quarter. Allworth Financial LP now owns 879 shares of the semiconductor company’s stock worth $65,000 after buying an additional 460 shares during the period. Nykredit A S bought a new stake in Cohu during the 2nd quarter valued at $36,000. Finally, Corient Private Wealth LP bought a new stake in Cohu during the 2nd quarter valued at $569,000. 94.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cohu

In other news, Director Nina Richardson sold 3,055 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $51.54, for a total value of $157,454.70. Following the completion of the sale, the director directly owned 39,093 shares of the company’s stock, valued at approximately $2,014,853.22. This trade represents a 7.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher Bohrson sold 10,000 shares of Cohu stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $55.82, for a total transaction of $558,200.00. Following the sale, the senior vice president directly owned 159,702 shares in the company, valued at $8,914,565.64. The trade was a 5.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 29,307 shares of company stock valued at $1,566,693. Company insiders own 3.05% of the company’s stock.

Cohu Price Performance

Shares of Cohu stock opened at $49.97 on Wednesday. The company has a quick ratio of 4.72, a current ratio of 5.74 and a debt-to-equity ratio of 0.37. The company has a market cap of $2.37 billion, a PE ratio of -60.20 and a beta of 1.58. The business has a 50 day moving average of $51.98 and a 200 day moving average of $47.61. Cohu, Inc. has a 52 week low of $18.67 and a 52 week high of $74.60.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and set a $74.00 price target on shares of Cohu in a research report on Friday, July 31st. B. Riley Financial boosted their price objective on shares of Cohu from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, July 31st. TD Cowen upped their price objective on shares of Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Stifel Nicolaus increased their target price on shares of Cohu from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Robert W. Baird initiated coverage on Cohu in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $65.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.75.

About Cohu

Cohu, Inc is a semiconductor test and inspection equipment company that develops products used throughout the semiconductor manufacturing process. Its portfolio includes semiconductor test handlers, test contactors, inspection and metrology systems, thermal-management solutions, and software for managing and analyzing test data.

The company’s equipment helps semiconductor manufacturers and outsourced semiconductor assembly and test providers handle, connect, test, inspect, and characterize packaged semiconductor devices.