Cohu (NASDAQ:COHU) Shares Gap Down on Analyst Downgrade

Cohu, Inc. (NASDAQ:COHU)’s share price gapped down prior to trading on Friday after B. Riley lowered their price target on the stock from $34.00 to $30.00. The stock had previously closed at $21.47, but opened at $20.31. B. Riley currently has a buy rating on the stock. Cohu shares last traded at $20.83, with a volume of 94,945 shares trading hands.

Several other research firms also recently commented on COHU. The Goldman Sachs Group decreased their target price on shares of Cohu from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Stifel Nicolaus decreased their target price on shares of Cohu from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday. TD Cowen decreased their target price on shares of Cohu from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 1st. 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 report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cohu in a report on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Cohu has an average rating of “Hold” and a consensus price target of $30.57.

Institutional Trading of Cohu

Several large investors have recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its holdings in Cohu by 78.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,615,235 shares of the semiconductor company’s stock valued at $69,827,000 after purchasing an additional 1,152,825 shares during the period. Franklin Resources Inc. boosted its holdings in Cohu by 25.9% in the 3rd quarter. Franklin Resources Inc. now owns 3,145,692 shares of the semiconductor company’s stock valued at $82,134,000 after purchasing an additional 647,828 shares during the period. Royce & Associates LP boosted its holdings in Cohu by 28.0% in the 4th quarter. Royce & Associates LP now owns 1,442,394 shares of the semiconductor company’s stock valued at $38,512,000 after purchasing an additional 315,605 shares during the period. Lightrock Netherlands B.V. bought a new stake in Cohu in the 4th quarter valued at $8,016,000. Finally, Leeward Investments LLC MA bought a new stake in Cohu in the 4th quarter valued at $7,076,000. 94.67% of the stock is owned by institutional investors.

Cohu Trading Down 1.6 %

The company has a current ratio of 6.38, a quick ratio of 4.69 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $24.87 and its two-hundred day simple moving average is $25.47. The stock has a market capitalization of $984.40 million, a P/E ratio of -19.56 and a beta of 1.45.

Cohu (NASDAQ:COHU) last issued its quarterly earnings results on Thursday, February 20th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). Cohu had a negative net margin of 11.35% and a negative return on equity of 1.01%. As a group, analysts forecast that Cohu, Inc. will post -0.51 earnings per share for the current year.

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.