Cohu (NASDAQ:COHU) Rating Increased to Hold at Zacks Investment Research

Cohu (NASDAQ:COHU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Cohu is a leading supplier of semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors and thermal sub-systems used by global semiconductor manufacturers and test subcontractors. “

A number of other brokerages have also recently commented on COHU. BidaskClub cut Cohu from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. ValuEngine upgraded Cohu from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus upgraded Cohu from a “hold” rating to a “buy” rating and lifted their target price for the stock from $18.50 to $22.00 in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.67.

Shares of COHU opened at $14.92 on Thursday. The company’s 50 day simple moving average is $15.26. The company has a market cap of $612.02 million, a P/E ratio of 12.03 and a beta of 1.28. Cohu has a 12-month low of $13.86 and a 12-month high of $27.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.22 and a quick ratio of 2.27.

Cohu (NASDAQ:COHU) last released its quarterly earnings results on Monday, May 6th. The semiconductor company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $147.81 million for the quarter, compared to analysts’ expectations of $145.00 million. Cohu had a negative net margin of 12.48% and a positive return on equity of 6.17%. The business’s quarterly revenue was up 55.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. On average, equities research analysts predict that Cohu will post -0.11 EPS for the current year.

In other news, VP Jeffrey D. Jones bought 4,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $14.35 per share, with a total value of $57,400.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Bendush sold 3,000 shares of Cohu stock in a transaction on Monday, May 13th. The shares were sold at an average price of $16.52, for a total value of $49,560.00. The disclosure for this sale can be found here. Insiders own 3.52% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royce & Associates LP raised its position in shares of Cohu by 0.5% in the 1st quarter. Royce & Associates LP now owns 998,168 shares of the semiconductor company’s stock worth $14,723,000 after acquiring an additional 4,842 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Cohu by 60.1% during the 1st quarter. JPMorgan Chase & Co. now owns 979,279 shares of the semiconductor company’s stock worth $14,444,000 after buying an additional 367,438 shares during the last quarter. Northern Trust Corp grew its stake in Cohu by 20.8% during the 4th quarter. Northern Trust Corp now owns 851,731 shares of the semiconductor company’s stock worth $13,686,000 after buying an additional 146,814 shares during the last quarter. Ceredex Value Advisors LLC grew its stake in Cohu by 14.9% during the 1st quarter. Ceredex Value Advisors LLC now owns 676,622 shares of the semiconductor company’s stock worth $10,015,000 after buying an additional 87,739 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Cohu by 30.6% during the 4th quarter. Bank of New York Mellon Corp now owns 567,707 shares of the semiconductor company’s stock worth $9,123,000 after buying an additional 133,122 shares during the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

About Cohu

Cohu, Inc, through its subsidiaries, provides semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors, thermal sub-systems, semiconductor automated test equipment (ATE), and bare board printed circuit board (PCB) test systems for semiconductor and electronics manufacturers, and test subcontractors worldwide.

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