Cohu (NASDAQ:COHU) Hits New 12-Month High Following Analyst Upgrade

Posted by on Jun 15th, 2023

Cohu, Inc. (NASDAQ:COHU – Get Rating) hit a new 52-week high during trading on Wednesday after Needham & Company LLC raised their price target on the stock from $40.00 to $52.00. The company traded as high as $40.21 and last traded at $39.76, with a volume of 65584 shares changing hands. The stock had previously closed at $38.99.

A number of other equities research analysts have also recently commented on COHU. Craig Hallum cut shares of Cohu from a “buy” rating to a “hold” rating in a research report on Friday, February 17th. B. Riley increased their target price on shares of Cohu from $30.00 to $36.00 in a research report on Friday, February 17th. Finally, StockNews.com assumed coverage on shares of Cohu in a research report on Thursday, May 18th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.50.

Insiders Place Their Bets

In other Cohu news, VP Thomas D. Kampfer sold 7,000 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $33.04, for a total transaction of $231,280.00. Following the completion of the transaction, the vice president now owns 57,482 shares of the company’s stock, valued at $1,899,205.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Cohu news, Director Nina Richardson sold 2,036 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $34.06, for a total transaction of $69,346.16. Following the completion of the transaction, the director now owns 28,394 shares of the company’s stock, valued at $967,099.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas D. Kampfer sold 7,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $33.04, for a total transaction of $231,280.00. Following the transaction, the vice president now directly owns 57,482 shares of the company’s stock, valued at approximately $1,899,205.28. The disclosure for this sale can be found here. Insiders sold a total of 13,037 shares of company stock valued at $435,140 over the last 90 days. 2.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brandywine Global Investment Management LLC boosted its stake in shares of Cohu by 1.2% in the first quarter. Brandywine Global Investment Management LLC now owns 277,957 shares of the semiconductor company’s stock valued at $10,671,000 after purchasing an additional 3,355 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Cohu by 9.0% in the first quarter. JPMorgan Chase & Co. now owns 604,520 shares of the semiconductor company’s stock valued at $23,207,000 after purchasing an additional 50,095 shares during the period. Advisory Services Network LLC purchased a new position in shares of Cohu in the first quarter valued at approximately $581,000. Thrivent Financial for Lutherans boosted its stake in shares of Cohu by 10.6% in the first quarter. Thrivent Financial for Lutherans now owns 1,186,284 shares of the semiconductor company’s stock valued at $45,541,000 after purchasing an additional 113,546 shares during the period. Finally, State Street Corp boosted its stake in shares of Cohu by 0.9% in the first quarter. State Street Corp now owns 1,747,620 shares of the semiconductor company’s stock valued at $67,084,000 after purchasing an additional 15,018 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Cohu Trading Up 3.6 %

The company’s 50 day moving average price is $36.15 and its 200 day moving average price is $35.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.89 and a quick ratio of 3.68. The firm has a market cap of $1.91 billion, a PE ratio of 21.48 and a beta of 1.56.

Cohu (NASDAQ:COHU – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Cohu had a net margin of 11.45% and a return on equity of 13.62%. The company had revenue of $179.37 million during the quarter, compared to the consensus estimate of $180.70 million. As a group, analysts forecast that Cohu, Inc. will post 1.73 EPS for the current fiscal year.

About Cohu

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Cohu, Inc engages in the provision of back-end semiconductor equipment and services. It offers test and handling capital equipment, interface products, and related services to the semiconductor and electronics manufacturing industries. The company was founded in 1947 and is headquartered in Poway, CA.

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