Raiffeisen Bank International AG Invests $3.11 Million in Cohu, Inc. $COHU

Raiffeisen Bank International AG bought a new stake in shares of Cohu, Inc. (NASDAQ:COHU) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 45,600 shares of the semiconductor company’s stock, valued at approximately $3,106,000. Raiffeisen Bank International AG owned approximately 0.10% of Cohu at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new position in shares of Cohu in the first quarter worth $705,000. Vanguard Group Inc. boosted its position in Cohu by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,361,164 shares of the semiconductor company’s stock valued at $101,484,000 after purchasing an additional 57,618 shares during the last quarter. Mizuho Markets Americas LLC grew its stake in Cohu by 349.3% in the fourth quarter. Mizuho Markets Americas LLC now owns 302,838 shares of the semiconductor company’s stock valued at $7,047,000 after purchasing an additional 235,438 shares in the last quarter. Leeward Investments LLC MA grew its stake in Cohu by 4.0% in the first quarter. Leeward Investments LLC MA now owns 646,133 shares of the semiconductor company’s stock valued at $19,785,000 after purchasing an additional 24,755 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Cohu in the first quarter valued at about $634,000. 94.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on COHU. Craig Hallum reaffirmed a “buy” rating and set a $74.00 price target on shares of Cohu in a research note on Friday, July 31st. Stifel Nicolaus boosted their price target on Cohu from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Robert W. Baird initiated coverage on Cohu in a report on Wednesday, July 8th. They issued an “outperform” rating and a $65.00 price objective on the stock. Zacks Research lowered shares of Cohu from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 28th. Finally, TD Cowen lifted their target price on shares of Cohu from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.75.

Cohu Price Performance

NASDAQ COHU opened at $50.72 on Friday. Cohu, Inc. has a fifty-two week low of $18.67 and a fifty-two week high of $74.60. The stock’s 50-day moving average is $53.32 and its two-hundred day moving average is $46.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.74 and a quick ratio of 4.72. The firm has a market cap of $2.40 billion, a P/E ratio of -61.11 and a beta of 1.58.

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

Insider Buying and Selling

In other Cohu news, Director Nina Richardson sold 3,055 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $51.54, for a total transaction of $157,454.70. Following the completion of the sale, the director owned 39,093 shares of the company’s stock, valued at $2,014,853.22. This represents a 7.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher Bohrson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $55.82, for a total value of $558,200.00. Following the transaction, the senior vice president owned 159,702 shares in the company, valued at approximately $8,914,565.64. This trade represents a 5.89% decrease in their position. 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. In the last ninety days, insiders sold 30,307 shares of company stock worth $1,630,573. 3.05% of the stock is currently owned by insiders.

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.