New York State Teachers Retirement System decreased its position in Cohu, Inc. (NASDAQ:COHU) by 14.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,391 shares of the semiconductor company’s stock after selling 9,192 shares during the period. New York State Teachers Retirement System owned approximately 0.14% of Cohu worth $870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Cambria Investment Management L.P. purchased a new position in Cohu in the 1st quarter worth $51,000. Factorial Partners LLC purchased a new position in shares of Cohu during the 1st quarter valued at about $118,000. BNP Paribas Arbitrage SA raised its stake in shares of Cohu by 415.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,247 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 6,646 shares during the last quarter. Piedmont Investment Advisors Inc. purchased a new position in shares of Cohu during the 1st quarter valued at about $152,000. Finally, Everence Capital Management Inc. purchased a new position in shares of Cohu during the 1st quarter valued at about $184,000. Institutional investors own 91.95% of the company’s stock.
A number of equities analysts have weighed in on the company. Stifel Nicolaus upgraded Cohu from a “hold” rating to a “buy” rating and lifted their price objective for the company from $18.50 to $22.00 in a research note on Tuesday, May 7th. BidaskClub cut Cohu from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. Zacks Investment Research upgraded Cohu from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, ValuEngine upgraded Cohu from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $24.67.
COHU stock traded down $1.07 during trading on Tuesday, hitting $13.24. The stock had a trading volume of 34,408 shares, compared to its average volume of 378,989. 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, Inc. has a twelve month low of $13.86 and a twelve month high of $27.83. The stock has a market cap of $611.97 million, a PE ratio of 10.75 and a beta of 1.28. The business’s 50-day moving average price is $15.20.
Cohu (NASDAQ:COHU) last posted its quarterly earnings data on Monday, August 5th. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Cohu had a positive return on equity of 6.17% and a negative net margin of 12.48%. The company had revenue of $150.01 million for the quarter, compared to analysts’ expectations of $152.50 million. During the same period in the previous year, the firm posted $0.64 EPS. Cohu’s revenue was up 50.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cohu, Inc. will post -0.11 earnings per share for the current fiscal year.
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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