Cohu (NASDAQ:COHU) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Cohu (NASDAQ:COHU) from a sell rating to a hold rating in a research report released on Tuesday, BidAskClub reports.

Other equities analysts have also issued reports about the company. ValuEngine lowered Cohu from a strong-buy rating to a buy rating in a research note on Wednesday, August 7th. Zacks Investment Research upgraded Cohu from a sell rating to a hold rating in a research note on Thursday, August 1st. Finally, Craig Hallum started coverage on Cohu in a research note on Thursday, September 5th. They set a buy rating and a $20.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $23.50.

Shares of COHU opened at $13.74 on Tuesday. Cohu has a 12-month low of $11.37 and a 12-month high of $22.25. The company has a quick ratio of 2.08, a current ratio of 3.01 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $568.35 million, a price-to-earnings ratio of 11.08 and a beta of 1.34. The stock’s 50-day moving average price is $13.27 and its 200 day moving average price is $14.62.

Cohu (NASDAQ:COHU) last issued its quarterly earnings results on Monday, August 5th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). Cohu had a negative net margin of 16.93% and a positive return on equity of 1.47%. The firm had revenue of $150.01 million for the quarter, compared to the consensus estimate of $152.50 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company’s revenue was up 50.3% on a year-over-year basis. Equities research analysts expect that Cohu will post -0.29 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, August 23rd will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, August 22nd. This represents a $0.24 annualized dividend and a yield of 1.75%. Cohu’s dividend payout ratio is 19.35%.

In other news, CFO Jeffrey D. Jones purchased 3,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of $13.07 per share, for a total transaction of $39,210.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.52% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in shares of Cohu by 985.1% in the 2nd quarter. Bank of Montreal Can now owns 4,080 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 3,704 shares during the period. Flinton Capital Management LLC grew its stake in shares of Cohu by 18.8% in the 2nd quarter. Flinton Capital Management LLC now owns 5,456 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 864 shares during the period. Meadow Creek Investment Management LLC grew its stake in shares of Cohu by 18.8% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 7,502 shares of the semiconductor company’s stock valued at $116,000 after purchasing an additional 1,188 shares during the period. Riverhead Capital Management LLC grew its stake in shares of Cohu by 18.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,500 shares of the semiconductor company’s stock valued at $131,000 after purchasing an additional 1,300 shares during the period. Finally, Glen Harbor Capital Management LLC grew its stake in shares of Cohu by 18.8% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 9,548 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 1,512 shares during the period. Institutional investors own 91.99% of the company’s stock.

About Cohu

Cohu, Inc, through its subsidiaries, provides semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors, thermal sub-systems, semiconductor automated test equipment (ATE), and bare board printed circuit board (PCB) test systems for semiconductor and electronics manufacturers, and test subcontractors worldwide.

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