Headlands Technologies LLC Acquires New Shares in Cohu, Inc. $COHU

Headlands Technologies LLC bought a new position in shares of Cohu, Inc. (NASDAQ:COHU) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 35,001 shares of the semiconductor company’s stock, valued at approximately $2,587,000. Headlands Technologies LLC owned 0.07% of Cohu at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of COHU. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Cohu in the second quarter valued at approximately $48,000. Allworth Financial LP acquired a new stake in Cohu during the 2nd quarter worth $65,000. Hollencrest Capital Management bought a new position in Cohu during the first quarter worth about $31,000. Public Employees Retirement System of Ohio bought a new stake in shares of Cohu in the second quarter worth about $79,000. Finally, Kestra Advisory Services LLC acquired a new stake in Cohu during the 4th quarter worth approximately $34,000. 94.67% of the stock is currently owned by institutional investors and hedge funds.

Cohu Stock Performance

NASDAQ:COHU opened at $48.00 on Monday. The stock has a 50 day simple moving average of $55.26 and a 200 day simple moving average of $45.99. The stock has a market cap of $2.27 billion, a P/E ratio of -57.83 and a beta of 1.59. Cohu, Inc. has a 1-year low of $18.67 and a 1-year high of $74.60. The company has a current ratio of 5.74, a quick ratio of 4.72 and a debt-to-equity ratio of 0.37.

Cohu (NASDAQ:COHU) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. Cohu had a negative return on equity of 1.96% and a negative net margin of 7.43%.The firm had revenue of $149.00 million for the quarter, compared to analyst estimates of $144.20 million. During the same period in the prior year, the firm posted $0.02 EPS. The company’s revenue for the quarter was up 38.3% on a year-over-year basis. Research analysts anticipate that Cohu, Inc. will post 0.47 earnings per share for the current year.

Insider Buying and Selling at Cohu

In other Cohu news, Director Andrew M. Caggia sold 15,252 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $51.74, for a total transaction of $789,138.48. Following the transaction, the director owned 64,778 shares in the company, valued at $3,351,613.72. This represents a 19.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher Bohrson sold 10,000 shares of Cohu stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $55.82, for a total transaction of $558,200.00. Following the completion of the sale, the senior vice president owned 159,702 shares of the company’s stock, valued at approximately $8,914,565.64. The trade was a 5.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 30,307 shares of company stock valued at $1,630,573 in the last quarter. Company insiders own 3.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Robert W. Baird assumed coverage on Cohu in a research report on Wednesday, July 8th. They set an “outperform” rating and a $65.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of Cohu from $50.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $74.00 target price on shares of Cohu in a research note on Friday, July 31st. B. Riley Financial lifted their price target on Cohu from $65.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Needham & Company LLC boosted their price target on Cohu from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $68.75.

About Cohu

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.