Cohu (NASDAQ:COHU) Reaches New 12-Month High – Time to Buy?

Cohu, Inc. (NASDAQ:COHU) reached a new 52-week high on Tuesday . The stock traded as high as $71.44 and last traded at $72.6290, with a volume of 222215 shares traded. The stock had previously closed at $68.12.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on COHU shares. Jefferies Financial Group set a $60.00 price target on shares of Cohu and gave the company a “buy” rating in a report on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cohu in a research report on Monday, April 20th. Evercore reissued an “outperform” rating and issued a $53.00 price target on shares of Cohu in a research note on Tuesday, April 28th. B. Riley Financial restated a “buy” rating on shares of Cohu in a report on Monday, April 20th. Finally, TD Cowen lifted their price objective on Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cohu presently has an average rating of “Moderate Buy” and an average target price of $52.33.

Cohu Price Performance

The firm has a market cap of $3.26 billion, a PE ratio of -58.08 and a beta of 1.54. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.43 and a quick ratio of 5.31. The firm has a 50-day simple moving average of $54.30 and a 200 day simple moving average of $38.21.

Cohu (NASDAQ:COHU) last released its earnings results on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Cohu had a negative return on equity of 3.50% and a negative net margin of 11.54%.The business had revenue of $125.12 million during the quarter, compared to analysts’ expectations of $122.14 million. During the same period in the prior year, the company earned ($0.02) earnings per share. The firm’s quarterly revenue was up 29.3% compared to the same quarter last year. As a group, equities analysts expect that Cohu, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other news, Director James A. Donahue sold 10,257 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $46.77, for a total value of $479,719.89. Following the sale, the director directly owned 3,578 shares of the company’s stock, valued at $167,343.06. The trade was a 74.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven J. Bilodeau sold 10,257 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $44.85, for a total value of $460,026.45. Following the completion of the sale, the director owned 52,272 shares in the company, valued at $2,344,399.20. The trade was a 16.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 90,668 shares of company stock valued at $4,248,016. Insiders own 3.05% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new stake in Cohu in the first quarter worth $31,000. Farther Finance Advisors LLC increased its holdings in shares of Cohu by 45.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 452 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Cohu in the 4th quarter worth about $34,000. Los Angeles Capital Management LLC purchased a new position in shares of Cohu in the 4th quarter worth about $37,000. Finally, Smartleaf Asset Management LLC boosted its stake in Cohu by 202.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,113 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 1,415 shares in the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

Cohu Company Profile

Cohu, Inc is a global provider of semiconductor test and inspection solutions, offering a broad portfolio of products designed to support chip manufacturers, outsourced semiconductor assembly and test (OSAT) providers, and electronics original equipment manufacturers (OEMs). The company’s product lineup includes automatic test handlers, wafer probers, test sockets, thermal subassembly systems and burn-in boards, all engineered to optimize throughput, accuracy and reliability in semiconductor production and final test.

Founded in 1947 and headquartered in Poway, California, Cohu has grown through both organic development and targeted acquisitions to become a recognized leader in test handling and interconnect technologies.