Bank of New York Mellon Corp Has $26.50 Million Stock Holdings in Cohu, Inc. $COHU

Bank of New York Mellon Corp decreased its holdings in shares of Cohu, Inc. (NASDAQ:COHU) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 865,624 shares of the semiconductor company’s stock after selling 12,218 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cohu were worth $26,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund boosted its position in shares of Cohu by 3.5% in the first quarter. Illinois Municipal Retirement Fund now owns 24,993 shares of the semiconductor company’s stock valued at $765,000 after acquiring an additional 839 shares during the period. Maryland State Retirement & Pension System acquired a new stake in Cohu during the first quarter worth about $207,000. Emerald Mutual Fund Advisers Trust bought a new position in Cohu during the first quarter valued at about $14,999,000. Emerald Advisers LLC bought a new position in Cohu during the first quarter valued at about $23,887,000. Finally, Principal Financial Group Inc. raised its holdings in Cohu by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 226,916 shares of the semiconductor company’s stock valued at $6,948,000 after acquiring an additional 4,417 shares in the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on COHU. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cohu in a research report on Friday, July 17th. Stifel Nicolaus boosted their price objective on Cohu from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Needham & Company LLC upped their target price on Cohu from $33.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, May 1st. B. Riley Financial raised their target price on Cohu from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Robert W. Baird initiated coverage on shares of Cohu in a research note on Wednesday, July 8th. They set an “outperform” rating and a $65.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cohu currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.86.

Cohu Stock Down 5.7%

Shares of COHU opened at $47.81 on Tuesday. The company has a quick ratio of 5.31, a current ratio of 6.43 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $56.78 and a two-hundred day moving average price of $42.05. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -40.18 and a beta of 1.55. Cohu, Inc. has a 12 month low of $17.80 and a 12 month high of $74.60.

Cohu (NASDAQ:COHU) last released its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Cohu had a negative net margin of 11.54% and a negative return on equity of 3.50%. The company had revenue of $125.12 million during the quarter, compared to the consensus estimate of $122.14 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 29.3% on a year-over-year basis. Equities analysts predict that Cohu, Inc. will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cohu news, Director Steven J. Bilodeau sold 10,257 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $44.85, for a total transaction of $460,026.45. Following the completion of the transaction, the director directly owned 52,272 shares in the company, valued at $2,344,399.20. This represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Luis A. Muller sold 45,154 shares of Cohu stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $46.62, for a total value of $2,105,079.48. Following the transaction, the chief executive officer directly owned 927,619 shares of the company’s stock, valued at approximately $43,245,597.78. The trade was a 4.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 89,668 shares of company stock worth $4,210,016 over the last quarter. Corporate insiders own 3.05% of the company’s stock.

Cohu Company Profile

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.