Cohu (NASDAQ:COHU) released its earnings results on Monday. The semiconductor company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.08), Briefing.com reports. The company had revenue of $86.20 million for the quarter, compared to analyst estimates of $92.03 million. Cohu had a net margin of 9.50% and a return on equity of 15.21%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS.
Shares of COHU traded down $3.23 during mid-day trading on Tuesday, hitting $18.24. The company’s stock had a trading volume of 39,717 shares, compared to its average volume of 367,472. The stock has a market capitalization of $635.56 million, a P/E ratio of 13.37, a P/E/G ratio of 1.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.66 and a quick ratio of 2.93. Cohu has a fifty-two week low of $18.60 and a fifty-two week high of $27.83.
COHU has been the topic of several research analyst reports. ValuEngine cut shares of Cohu from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Stifel Nicolaus lifted their price objective on shares of Cohu from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. DA Davidson started coverage on shares of Cohu in a research note on Monday, September 24th. They issued a “buy” rating and a $30.00 price objective on the stock. BidaskClub cut shares of Cohu from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Finally, Zacks Investment Research cut shares of Cohu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.75.
In other news, VP Hock Woo Chiang sold 15,825 shares of Cohu stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $27.59, for a total value of $436,611.75. Following the transaction, the vice president now owns 71,947 shares of the company’s stock, valued at approximately $1,985,017.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.88% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its holdings in shares of Cohu by 958.7% in the third quarter. Meeder Asset Management Inc. now owns 4,150 shares of the semiconductor company’s stock worth $105,000 after buying an additional 3,758 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Cohu in the second quarter worth about $124,000. Piedmont Investment Advisors LLC acquired a new position in shares of Cohu in the second quarter worth about $164,000. WINTON GROUP Ltd acquired a new position in shares of Cohu in the first quarter worth about $201,000. Finally, California Public Employees Retirement System acquired a new position in shares of Cohu in the second quarter worth about $208,000. 97.54% of the stock is currently owned by institutional investors.
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Cohu, Inc, through its subsidiaries, engages in the development, manufacture, sale, and servicing of semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors, and thermal sub-systems for semiconductor manufacturers and test subcontractors worldwide.
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