Louisiana State Employees Retirement System Lowers Stock Holdings in Cohu, Inc. (NASDAQ:COHU)

Louisiana State Employees Retirement System lessened its position in shares of Cohu, Inc. (NASDAQ:COHU) by 4.2% in the third quarter, Holdings Channel.com reports. The fund owned 22,700 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cohu were worth $583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COHU. Signaturefd LLC increased its stake in Cohu by 1,256.3% during the second quarter. Signaturefd LLC now owns 868 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 804 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Cohu by 558.8% during the second quarter. First Horizon Advisors Inc. now owns 1,087 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 922 shares during the last quarter. CWM LLC increased its stake in Cohu by 158.1% during the second quarter. CWM LLC now owns 1,533 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 939 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Cohu during the second quarter worth about $97,000. Finally, Perkins Coie Trust Co acquired a new stake in Cohu during the second quarter worth about $132,000. 94.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on COHU. TD Cowen dropped their price target on Cohu from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Craig Hallum upgraded Cohu from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Friday, November 1st. Citigroup lowered Cohu from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a research note on Monday, July 15th. Needham & Company LLC upped their target price on Cohu from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, StockNews.com downgraded Cohu from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.50.

Insider Activity at Cohu

In related news, Director Nina Richardson sold 4,999 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $24.14, for a total value of $120,675.86. Following the completion of the transaction, the director now owns 28,313 shares of the company’s stock, valued at approximately $683,475.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 5,399 shares of company stock valued at $130,204. Insiders own 2.70% of the company’s stock.

Cohu Price Performance

Shares of NASDAQ COHU opened at $27.55 on Wednesday. Cohu, Inc. has a 1-year low of $22.80 and a 1-year high of $36.60. The business has a 50-day moving average of $25.18 and a 200-day moving average of $28.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.38 and a quick ratio of 4.69. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -25.51 and a beta of 1.52.

Cohu (NASDAQ:COHU) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The business had revenue of $95.30 million during the quarter, compared to analysts’ expectations of $95.75 million. Cohu had a negative net margin of 11.35% and a negative return on equity of 1.01%. The company’s revenue for the quarter was down 36.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 EPS. On average, equities analysts anticipate that Cohu, Inc. will post -0.41 EPS for the current fiscal 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.