Geode Capital Management LLC Increases Position in Cohu, Inc. (COHU)
Geode Capital Management LLC boosted its stake in shares of Cohu, Inc. (NASDAQ:COHU) by 21.2% during the first quarter, Holdings Channel reports. The firm owned 290,144 shares of the semiconductor company’s stock after buying an additional 50,758 shares during the period. Geode Capital Management LLC’s holdings in Cohu were worth $5,355,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of COHU. 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 valued at $108,000 after buying an additional 411 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Cohu by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,400 shares of the semiconductor company’s stock valued at $186,000 after buying an additional 770 shares during the period. 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 valued at $188,000 after buying an additional 200 shares during the period. Acrospire Investment Management LLC raised its position in shares of Cohu by 101.2% in the first quarter. Acrospire Investment Management LLC now owns 10,666 shares of the semiconductor company’s stock valued at $197,000 after buying an additional 5,366 shares during the period. Finally, Airain ltd purchased a new position in shares of Cohu during the first quarter valued at about $228,000. 81.22% of the stock is currently owned by institutional investors and hedge funds.
Cohu, Inc. (NASDAQ:COHU) traded up 0.98% during midday trading on Friday, reaching $17.43. The company had a trading volume of 137,669 shares. The stock has a 50-day moving average price of $17.68 and a 200 day moving average price of $17.33. Cohu, Inc. has a 12-month low of $10.37 and a 12-month high of $21.64. The company has a market capitalization of $487.33 million, a PE ratio of 25.19 and a beta of 0.88.
Cohu (NASDAQ:COHU) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.42 earnings per share for the quarter, topping 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 firm had revenue of $93.90 million for the quarter, compared to the consensus estimate of $92.91 million. During the same quarter in the previous year, the business earned $0.23 EPS. The company’s revenue was up 22.9% compared to the same quarter last year. Equities analysts forecast that Cohu, Inc. will post $1.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, August 25th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.38%. Cohu’s payout ratio is presently 34.78%.
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Several equities analysts have recently issued reports on the company. B. Riley reaffirmed a “buy” rating and set a $25.00 price target on shares of Cohu in a research note on Friday, April 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $19.00 price target (up previously from $17.00) on shares of Cohu in a research note on Monday, July 17th. Zacks Investment Research lowered Cohu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub raised Cohu from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, ValuEngine raised Cohu from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. One investment 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 has a consensus rating of “Hold” and an average price target of $22.75.
In other news, Director James A. Donahue sold 75,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 444,049 shares in the company, valued at approximately $7,935,155.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman James A. Donahue sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $18.11, for a total value of $452,750.00. Following the completion of the transaction, the chairman now owns 431,328 shares in the company, valued at approximately $7,811,350.08. The disclosure for this sale can be found here. Insiders sold a total of 102,639 shares of company stock worth $1,841,056 in the last 90 days. Company insiders own 5.97% of the company’s stock.
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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