Royal Bank of Canada Sells 103,934 Shares of Cohu, Inc. (NASDAQ:COHU)

Royal Bank of Canada lessened its holdings in Cohu, Inc. (NASDAQ:COHU) by 15.0% during the second quarter, HoldingsChannel.com reports. The fund owned 590,621 shares of the semiconductor company’s stock after selling 103,934 shares during the period. Royal Bank of Canada’s holdings in Cohu were worth $9,113,000 at the end of the most recent reporting period.

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

Shares of COHU opened at $13.86 on Wednesday. Cohu, Inc. has a 52-week low of $11.37 and a 52-week high of $22.42. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.08 and a current ratio of 3.01. The business’s 50 day moving average price is $13.23 and its two-hundred day moving average price is $14.63. The firm has a market cap of $568.36 million, a PE ratio of 11.18 and a beta of 1.34.

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 Thomson Reuters’ 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 business had revenue of $150.01 million during the quarter, compared to analyst estimates of $152.50 million. During the same period last year, the firm posted $0.64 earnings per share. Cohu’s quarterly revenue was up 50.3% compared to the same quarter last year. Research analysts predict that Cohu, Inc. will post -0.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, August 23rd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, August 22nd. Cohu’s dividend payout ratio (DPR) is presently 19.35%.

In other Cohu news, CFO Jeffrey D. Jones purchased 3,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of $13.07 per share, with a total value of $39,210.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.52% of the stock is currently owned by insiders.

COHU has been the topic of a number of recent analyst reports. BidaskClub raised Cohu from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine lowered Cohu from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Craig Hallum initiated coverage on Cohu in a research note on Thursday, September 5th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research raised Cohu from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.50.

Cohu Profile

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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Institutional Ownership by Quarter for Cohu (NASDAQ:COHU)

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