Franklin Resources Inc. Sells 230,800 Shares of Cohu, Inc. (COHU)
Franklin Resources Inc. decreased its holdings in Cohu, Inc. (NASDAQ:COHU) by 10.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,967,200 shares of the semiconductor company’s stock after selling 230,800 shares during the quarter. Franklin Resources Inc. owned 7.04% of Cohu worth $30,964,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Mason Street Advisors LLC boosted its stake 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 purchasing an additional 411 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Cohu by 67.7% in the second quarter. BNP Paribas Arbitrage SA now owns 8,085 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 3,264 shares during the period. Bank of Montreal Can purchased a new position in shares of Cohu in the second quarter valued at approximately $130,000. Louisiana State Employees Retirement System boosted its stake 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 purchasing an additional 200 shares during the period. Finally, Aperio Group LLC purchased a new position in shares of Cohu in the second quarter valued at approximately $179,000. 83.86% of the stock is owned by institutional investors and hedge funds.
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Several research firms have recently commented on COHU. Needham & Company LLC raised shares of Cohu from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Monday. ValuEngine raised shares of Cohu from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. B. Riley reissued a “buy” rating and issued a $28.00 price objective on shares of Cohu in a research note on Saturday, August 26th. Zacks Investment Research raised shares of Cohu from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research note on Monday, August 21st. Finally, BidaskClub raised shares of Cohu from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $23.00.
Cohu, Inc. (NASDAQ:COHU) opened at 23.27 on Tuesday. Cohu, Inc. has a 52 week low of $10.72 and a 52 week high of $23.50. The stock has a market cap of $650.61 million, a P/E ratio of 33.63 and a beta of 0.88. The company has a 50-day moving average of $18.33 and a 200-day moving average of $18.14.
Cohu (NASDAQ:COHU) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.03. The firm had revenue of $93.90 million during the quarter, compared to analysts’ expectations of $92.91 million. Cohu had a return on equity of 11.59% and a net margin of 6.21%. Cohu’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. On average, analysts predict that Cohu, Inc. will post $1.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, August 25th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, August 23rd. Cohu’s dividend payout ratio is presently 34.78%.
In other Cohu news, VP Hock Woo Chiang sold 10,844 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $18.77, for a total value of $203,541.88. Following the completion of the transaction, the vice president now owns 90,332 shares in the company, valued at approximately $1,695,531.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James A. Donahue sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $18.72, for a total value of $1,404,000.00. Following the completion of the transaction, the director now owns 444,049 shares of the company’s stock, valued at approximately $8,312,597.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,844 shares of company stock valued at $2,947,792. 5.97% of the stock is owned by company insiders.
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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