Geode Capital Management LLC Raises Holdings in Cohu, Inc. (NASDAQ:COHU)

Geode Capital Management LLC lifted its position in Cohu, Inc. (NASDAQ:COHU) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,114,394 shares of the semiconductor company’s stock after purchasing an additional 9,563 shares during the quarter. Geode Capital Management LLC owned about 2.39% of Cohu worth $28,645,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in Cohu by 5.6% during the 2nd quarter. Mackenzie Financial Corp now owns 7,939 shares of the semiconductor company’s stock valued at $263,000 after buying an additional 419 shares in the last quarter. Oak Associates Ltd. OH grew its holdings in shares of Cohu by 0.6% in the second quarter. Oak Associates Ltd. OH now owns 83,704 shares of the semiconductor company’s stock valued at $2,771,000 after purchasing an additional 521 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Cohu by 49.2% in the third quarter. First Horizon Advisors Inc. now owns 1,622 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 535 shares in the last quarter. Signaturefd LLC increased its position in Cohu by 1,256.3% in the second quarter. Signaturefd LLC now owns 868 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 804 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in Cohu by 3.2% during the third quarter. Orion Portfolio Solutions LLC now owns 36,725 shares of the semiconductor company’s stock valued at $944,000 after purchasing an additional 1,141 shares in the last quarter. 94.67% of the stock is currently owned by hedge funds and other institutional investors.

Cohu Stock Up 2.3 %

Shares of NASDAQ:COHU opened at $27.45 on Friday. The firm has a market capitalization of $1.28 billion, a PE ratio of -25.42 and a beta of 1.51. The business has a 50 day simple moving average of $26.46 and a two-hundred day simple moving average of $27.63. 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.

Cohu (NASDAQ:COHU) last released its quarterly earnings data 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 company 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%. Cohu’s quarterly revenue was down 36.8% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. On average, equities analysts predict that Cohu, Inc. will post -0.46 EPS for the current year.

Insiders Place Their Bets

In other Cohu news, Director Nina Richardson sold 4,999 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $24.14, for a total transaction of $120,675.86. Following the transaction, the director now owns 28,313 shares of the company’s stock, valued at approximately $683,475.82. This trade represents a 15.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 5,599 shares of company stock worth $136,724. 2.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Craig Hallum raised shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Friday, November 1st. 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 report on Friday, November 1st. The Goldman Sachs Group decreased their price objective on 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 lifted their target price on Cohu from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Cohu has a consensus rating of “Hold” and a consensus target price of $31.50.

Cohu Company 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.