US Bancorp DE Boosts Holdings in Cohu, Inc. (NASDAQ:COHU)

US Bancorp DE raised its holdings in shares of Cohu, Inc. (NASDAQ:COHU) by 59.7% in the third quarter, Holdings Channel reports. The institutional investor owned 8,823 shares of the semiconductor company’s stock after acquiring an additional 3,297 shares during the period. US Bancorp DE’s holdings in Cohu were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Tributary Capital Management LLC purchased a new position in shares of Cohu during the 2nd quarter valued at about $11,781,000. Bank of New York Mellon Corp boosted its position in shares of Cohu by 54.7% during the second quarter. Bank of New York Mellon Corp now owns 905,309 shares of the semiconductor company’s stock worth $29,966,000 after acquiring an additional 320,234 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Cohu by 3.3% during the first quarter. Vanguard Group Inc. now owns 4,303,097 shares of the semiconductor company’s stock valued at $143,422,000 after purchasing an additional 137,475 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Cohu by 286.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 107,817 shares of the semiconductor company’s stock valued at $2,771,000 after buying an additional 79,890 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Cohu by 529.3% in the second quarter. Envestnet Asset Management Inc. now owns 70,880 shares of the semiconductor company’s stock worth $2,346,000 after purchasing an additional 59,617 shares during the last quarter. 94.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com downgraded Cohu from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. TD Cowen dropped their target price on shares of Cohu from $36.00 to $30.00 and set a “buy” rating on the stock 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 on the stock in a research note on Friday, November 1st. Needham & Company LLC boosted their price objective on shares of Cohu from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group reduced their target price on shares of Cohu from $26.00 to $23.00 and set a “sell” rating for the company in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Cohu currently has a consensus rating of “Hold” and an average price target of $31.50.

Cohu Stock Down 1.7 %

Cohu stock opened at $25.43 on Friday. Cohu, Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $36.60. The business’s 50-day simple moving average is $25.40 and its two-hundred day simple moving average is $28.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.69 and a current ratio of 6.38. The company has a market cap of $1.19 billion, a PE ratio of -23.55 and a beta of 1.52.

Cohu (NASDAQ:COHU) last issued its earnings results on Thursday, October 31st. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Cohu had a negative return on equity of 1.01% and a negative net margin of 11.35%. The business had revenue of $95.30 million for the quarter, compared to analysts’ expectations of $95.75 million. During the same period last year, the business earned $0.27 EPS. The company’s revenue for the quarter was down 36.8% on a year-over-year basis. Equities analysts anticipate that Cohu, Inc. will post -0.46 EPS for the current year.

Insider Transactions at Cohu

In other Cohu news, Director Nina Richardson sold 4,999 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $24.14, for a total value of $120,675.86. Following the sale, the director now owns 28,313 shares in the company, valued at approximately $683,475.82. This represents a 15.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 5,599 shares of company stock worth $135,850 over the last quarter. 2.70% of the stock is currently owned by insiders.

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.