Cohu, Inc. (NASDAQ:COHU) Receives $35.00 Average PT from Brokerages

Cohu, Inc. (NASDAQ:COHU) has received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $35.00.

COHU has been the subject of several recent analyst reports. StockNews.com cut shares of Cohu from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Needham & Company LLC lowered their price target on Cohu from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Citigroup downgraded Cohu from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Monday, July 15th.

Hedge Funds Weigh In On Cohu

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tributary Capital Management LLC bought a new position in Cohu in the 2nd quarter worth approximately $11,781,000. Bank of New York Mellon Corp increased its position in 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 period. Franklin Resources Inc. raised its stake in Cohu by 8.4% during the 4th quarter. Franklin Resources Inc. now owns 2,782,650 shares of the semiconductor company’s stock valued at $98,478,000 after purchasing an additional 215,153 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Cohu by 3.3% in the 1st 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 during the period. Finally, Envestnet Asset Management Inc. grew its position in Cohu by 529.3% in the 2nd 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. Institutional investors and hedge funds own 94.67% of the company’s stock.

Cohu Price Performance

Shares of NASDAQ:COHU opened at $24.79 on Friday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -495.80 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.95 and a quick ratio of 5.09. Cohu has a 12 month low of $22.80 and a 12 month high of $36.60. The stock’s 50 day moving average price is $27.25 and its 200 day moving average price is $30.01.

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

About Cohu

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.