Kendall Capital Management Cuts Stock Position in Cohu, Inc. (NASDAQ:COHU)

Kendall Capital Management decreased its stake in shares of Cohu, Inc. (NASDAQ:COHU) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,045 shares of the semiconductor company’s stock after selling 1,970 shares during the quarter. Kendall Capital Management’s holdings in Cohu were worth $928,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Cohu by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 4,303,097 shares of the semiconductor company’s stock worth $143,422,000 after purchasing an additional 137,475 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 51,640 shares during the period. Franklin Resources Inc. increased its holdings in Cohu by 8.4% during the 4th quarter. Franklin Resources Inc. now owns 2,782,650 shares of the semiconductor company’s stock worth $98,478,000 after purchasing an additional 215,153 shares during the period. Bank of New York Mellon Corp increased its holdings in Cohu by 54.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 905,309 shares of the semiconductor company’s stock worth $29,966,000 after purchasing an additional 320,234 shares during the period. Finally, TimesSquare Capital Management LLC increased its holdings in Cohu by 7.2% during the 1st quarter. TimesSquare Capital Management LLC now owns 746,680 shares of the semiconductor company’s stock worth $24,887,000 after purchasing an additional 49,892 shares during the period. Hedge funds and other institutional investors own 94.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COHU. Needham & Company LLC dropped their price objective on Cohu from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. StockNews.com cut Cohu from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, Citigroup cut Cohu from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Cohu has a consensus rating of “Hold” and a consensus price target of $35.00.

Cohu Stock Performance

Shares of COHU stock opened at $24.54 on Thursday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -495.00 and a beta of 1.53. The stock has a 50 day simple moving average of $27.87 and a 200-day simple moving average of $30.15. Cohu, Inc. has a 12-month low of $22.80 and a 12-month high of $36.60. The company has a current ratio of 6.95, a quick ratio of 5.09 and a debt-to-equity ratio of 0.01.

Cohu (NASDAQ:COHU) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $104.70 million for the quarter, compared to analysts’ expectations of $105.00 million. Cohu had a positive return on equity of 1.27% and a negative net margin of 5.70%. On average, equities analysts forecast that Cohu, Inc. will post -0.41 EPS for the current year.

Cohu 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.