Cohu (COHU) Trading Down 15.7% on Disappointing Earnings
Cohu, Inc. (NASDAQ:COHU)’s share price was down 15.7% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $18.60 and last traded at $19.31. Approximately 1,480,964 shares were traded during mid-day trading, an increase of 503% from the average daily volume of 245,741 shares. The stock had previously closed at $22.91.
The semiconductor company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.03). Cohu had a net margin of 9.31% and a return on equity of 14.99%. The firm had revenue of $84.09 million for the quarter, compared to the consensus estimate of $84.20 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 19.0% compared to the same quarter last year.
Several research analysts have commented on the stock. B. Riley decreased their price objective on shares of Cohu from $31.00 to $30.00 and set a “buy” rating for the company in a report on Friday. ValuEngine upgraded shares of Cohu from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research lowered shares of Cohu from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Needham & Company LLC restated a “buy” rating and issued a $24.00 price objective on shares of Cohu in a report on Friday, October 27th. Finally, BidaskClub lowered shares of Cohu from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.20.
Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in shares of Cohu in the 3rd quarter worth about $102,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Cohu in the 3rd quarter worth about $106,000. Palouse Capital Management Inc. bought a new position in shares of Cohu in the 3rd quarter worth about $202,000. Crossmark Global Holdings Inc. bought a new position in shares of Cohu in the 3rd quarter worth about $209,000. Finally, LS Investment Advisors LLC increased its stake in shares of Cohu by 1,003.4% in the 4th quarter. LS Investment Advisors LLC now owns 9,302 shares of the semiconductor company’s stock worth $204,000 after acquiring an additional 8,459 shares in the last quarter. Institutional investors own 82.24% of the company’s stock.
The company has a quick ratio of 2.89, a current ratio of 3.62 and a debt-to-equity ratio of 0.02. The stock has a market cap of $648.08, a P/E ratio of 17.09 and a beta of 0.91.
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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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