Cohu, Inc. (NASDAQ:COHU) Downgraded to “Sell” at BidaskClub

BidaskClub cut shares of Cohu, Inc. (NASDAQ:COHU) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

Other analysts have also issued reports about the company. B. Riley reiterated a buy rating and set a $28.00 price objective on shares of Cohu in a research note on Friday, July 28th. Zacks Investment Research lowered Cohu from a strong-buy rating to a hold rating in a research note on Wednesday, June 28th. Stifel Nicolaus restated a hold rating and issued a $19.00 target price (up from $17.00) on shares of Cohu in a research note on Monday, July 17th. Finally, Dougherty & Co upped their target price on Cohu from $23.50 to $24.00 and gave the stock a buy rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Cohu presently has an average rating of Hold and a consensus price target of $22.75.

Shares of Cohu (NASDAQ:COHU) opened at 17.43 on Tuesday. Cohu has a 12-month low of $10.37 and a 12-month high of $21.64. The firm has a market capitalization of $487.33 million, a price-to-earnings ratio of 25.19 and a beta of 0.88. The stock’s 50 day moving average price is $17.68 and its 200 day moving average price is $17.33.

Cohu (NASDAQ:COHU) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Cohu had a return on equity of 11.59% and a net margin of 6.21%. The company had revenue of $93.90 million for the quarter, compared to analyst estimates of $92.91 million. During the same period in the previous year, the company posted $0.23 EPS. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities research analysts expect that Cohu will post $1.54 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, August 25th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.24 dividend on an annualized basis and a yield of 1.38%. Cohu’s dividend payout ratio is currently 34.78%.

In other Cohu news, VP Fellenberg Ian Von sold 2,639 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $18.21, for a total value of $48,056.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James A. Donahue sold 75,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $17.87, for a total value of $1,340,250.00. Following the completion of the transaction, the director now owns 444,049 shares in the company, valued at $7,935,155.63. The disclosure for this sale can be found here. Insiders sold a total of 102,639 shares of company stock worth $1,841,056 over the last 90 days. Corporate insiders own 5.97% of the company’s stock.

A number of institutional investors have recently made changes to their positions in COHU. Louisiana State Employees Retirement System raised its position in shares of Cohu by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the semiconductor company’s stock worth $188,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System raised its position in shares of Cohu by 1.6% in the first quarter. Arizona State Retirement System now owns 13,026 shares of the semiconductor company’s stock worth $240,000 after buying an additional 200 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Cohu by 7.6% in the first quarter. Mason Street Advisors LLC now owns 5,839 shares of the semiconductor company’s stock worth $108,000 after buying an additional 411 shares in the last quarter. Texas Permanent School Fund raised its position in shares of Cohu by 2.7% in the second quarter. Texas Permanent School Fund now owns 18,558 shares of the semiconductor company’s stock worth $292,000 after buying an additional 480 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Cohu by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 101,645 shares of the semiconductor company’s stock worth $1,600,000 after buying an additional 532 shares in the last quarter. Institutional investors and hedge funds own 81.22% of the company’s stock.

Cohu Company Profile

Cohu, Inc is a 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. It develops, manufactures, sells and services a line of equipment capable of handling a range of integrated circuits and light-emitting diodes.

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