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

US Bancorp DE lifted its stake in Cohu, Inc. (NASDAQ:COHU) by 59.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,823 shares of the semiconductor company’s stock after buying an additional 3,297 shares during the period. US Bancorp DE’s holdings in Cohu were worth $227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tributary Capital Management LLC bought a new stake in Cohu during the 2nd quarter valued at $11,781,000. Bank of New York Mellon Corp raised its stake 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 valued at $29,966,000 after acquiring an additional 320,234 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 worth $143,422,000 after purchasing an additional 137,475 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Cohu by 286.1% in the third quarter. Assenagon Asset Management S.A. now owns 107,817 shares of the semiconductor company’s stock worth $2,771,000 after purchasing an additional 79,890 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Cohu by 529.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 70,880 shares of the semiconductor company’s stock valued at $2,346,000 after purchasing an additional 59,617 shares during the period. Institutional investors own 94.67% of the company’s stock.

Cohu Stock Down 1.7 %

Shares of Cohu stock opened at $25.43 on Friday. Cohu, Inc. has a 1 year low of $22.80 and a 1 year high of $36.60. 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 50-day moving average of $25.40 and a 200 day moving average of $28.49. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -23.55 and a beta of 1.52.

Cohu (NASDAQ:COHU) last released 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). The business had revenue of $95.30 million for 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%. Cohu’s revenue for the quarter was down 36.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, sell-side analysts anticipate that Cohu, Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Cohu

In other Cohu news, Director Nina Richardson sold 4,999 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $24.14, for a total transaction of $120,675.86. Following the completion of the sale, the director now directly owns 28,313 shares in the company, valued at approximately $683,475.82. The trade was a 15.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 5,599 shares of company stock worth $135,850. Insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.