Cohu (NASDAQ:COHU) Lowered to Hold Rating by Needham & Company LLC

Cohu (NASDAQ:COHU) was downgraded by investment analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Monday, Marketbeat Ratings reports.

Several other equities research analysts also recently weighed in 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 note on Friday, November 1st. Craig Hallum raised Cohu from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Friday, November 1st. Finally, TD Cowen dropped their target price on Cohu from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Two investment 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.50.

Cohu Trading Up 1.6 %

COHU opened at $24.00 on Monday. The company has a quick ratio of 4.69, a current ratio of 6.38 and a debt-to-equity ratio of 0.01. Cohu has a 52 week low of $22.80 and a 52 week high of $36.60. The business’s 50 day moving average is $26.61 and its two-hundred day moving average is $27.12. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -22.22 and a beta of 1.47.

Cohu (NASDAQ:COHU) last announced its earnings results on Thursday, October 31st. The semiconductor company reported ($0.17) 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 period in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was down 36.8% compared to the same quarter last year. On average, research analysts predict that Cohu will post -0.46 EPS for the current year.

Institutional Trading of Cohu

Several hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. raised its position in Cohu by 49.2% in the third quarter. First Horizon Advisors Inc. now owns 1,622 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 535 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Cohu by 5.6% in the 2nd quarter. Mackenzie Financial Corp now owns 7,939 shares of the semiconductor company’s stock valued at $263,000 after purchasing an additional 419 shares in the last quarter. Creative Planning purchased a new position in shares of Cohu in the 2nd quarter valued at about $282,000. US Bancorp DE lifted its stake in shares of Cohu by 59.7% in the third quarter. US Bancorp DE now owns 8,823 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 3,297 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in Cohu by 34.3% during the third quarter. GSA Capital Partners LLP now owns 9,922 shares of the semiconductor company’s stock worth $255,000 after buying an additional 2,532 shares in the last quarter. 94.67% of the stock is owned by institutional investors and hedge funds.

About Cohu

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.