Cohu (NASDAQ:COHU) Downgraded by Needham & Company LLC to “Hold”

Needham & Company LLC downgraded shares of Cohu (NASDAQ:COHU) from a buy rating to a hold rating in a research note released on Monday morning, MarketBeat.com reports.

COHU has been the topic of a number of other reports. Craig Hallum upgraded shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Friday, November 1st. TD Cowen decreased their price objective on shares of Cohu from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, The Goldman Sachs Group decreased their price objective on shares of Cohu from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.50.

Cohu Stock Performance

Shares of COHU opened at $23.63 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.69 and a current ratio of 6.38. Cohu has a twelve month low of $22.80 and a twelve month high of $36.60. The firm’s 50 day moving average price is $26.61 and its two-hundred day moving average price is $27.12. The firm has a market cap of $1.10 billion, a P/E ratio of -21.88 and a beta of 1.47.

Cohu (NASDAQ:COHU) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Cohu had a negative net margin of 11.35% and a negative return on equity of 1.01%. The business had revenue of $95.30 million during the quarter, compared to analyst estimates of $95.75 million. During the same quarter last year, the business earned $0.27 earnings per share. Cohu’s revenue for the quarter was down 36.8% on a year-over-year basis. On average, analysts forecast that Cohu will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Cohu

A number of institutional investors have recently modified their holdings of the business. 272 Capital LP boosted its position in shares of Cohu by 167.9% in the third quarter. 272 Capital LP now owns 157,150 shares of the semiconductor company’s stock valued at $4,039,000 after acquiring an additional 98,496 shares during the period. Franklin Resources Inc. lifted its position in Cohu by 25.9% during the third quarter. Franklin Resources Inc. now owns 3,145,692 shares of the semiconductor company’s stock worth $82,134,000 after purchasing an additional 647,828 shares during the period. Meros Investment Management LP bought a new stake in Cohu during the third quarter worth about $257,000. Geode Capital Management LLC lifted its position in Cohu by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,114,394 shares of the semiconductor company’s stock worth $28,645,000 after purchasing an additional 9,563 shares during the period. Finally, Barclays PLC lifted its position in Cohu by 331.6% during the third quarter. Barclays PLC now owns 77,600 shares of the semiconductor company’s stock worth $1,994,000 after purchasing an additional 59,622 shares during the period. Institutional investors own 94.67% of the company’s stock.

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.