Cohu (NASDAQ:COHU) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Cohu, Inc. (NASDAQ:COHU) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.42 and traded as high as $31.78. Cohu shares last traded at $30.23, with a volume of 556,159 shares trading hands.

Wall Street Analysts Forecast Growth

COHU has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a report on Wednesday, January 21st. Zacks Research downgraded shares of Cohu from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Needham & Company LLC upped their price objective on shares of Cohu from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Evercore started coverage on shares of Cohu in a research report on Monday, March 16th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, B. Riley Financial cut their target price on shares of Cohu from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.00.

Cohu Stock Down 5.3%

The company has a quick ratio of 5.69, a current ratio of 6.88 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.42 billion, a P/E ratio of -19.01 and a beta of 1.27. The company has a 50-day moving average of $29.83 and a two-hundred day moving average of $25.42.

Cohu (NASDAQ:COHU) last posted its quarterly earnings data on Thursday, February 12th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.22). Cohu had a negative return on equity of 3.76% and a negative net margin of 16.40%.The firm had revenue of $122.23 million during the quarter, compared to the consensus estimate of $122.09 million. During the same quarter last year, the company posted ($0.15) EPS. Cohu’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, research analysts predict that Cohu, Inc. will post -0.36 EPS for the current year.

Insider Transactions at Cohu

In related news, SVP Christopher Bohrson sold 1,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $28.57, for a total transaction of $28,570.00. Following the sale, the senior vice president owned 176,202 shares of the company’s stock, valued at $5,034,091.14. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.86% of the stock is currently owned by company insiders.

Institutional Trading of Cohu

A number of hedge funds have recently made changes to their positions in the stock. Essex Investment Management Co. LLC raised its stake in Cohu by 31.4% during the third quarter. Essex Investment Management Co. LLC now owns 192,846 shares of the semiconductor company’s stock valued at $3,921,000 after buying an additional 46,113 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Cohu by 4.6% in the second quarter. Geode Capital Management LLC now owns 1,167,208 shares of the semiconductor company’s stock worth $22,459,000 after acquiring an additional 50,907 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Cohu by 20.9% during the third quarter. First Eagle Investment Management LLC now owns 248,146 shares of the semiconductor company’s stock valued at $5,045,000 after acquiring an additional 42,819 shares in the last quarter. Stanley Laman Group Ltd. purchased a new position in shares of Cohu in the 3rd quarter worth about $3,109,000. Finally, Creative Planning boosted its stake in Cohu by 16.7% in the 2nd quarter. Creative Planning now owns 71,920 shares of the semiconductor company’s stock worth $1,384,000 after purchasing an additional 10,306 shares in the last quarter. 94.67% of the stock is owned by institutional investors.

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.