Assenagon Asset Management S.A. Acquires New Stake in Cohu, Inc. $COHU

Assenagon Asset Management S.A. bought a new position in shares of Cohu, Inc. (NASDAQ:COHU) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 23,017 shares of the semiconductor company’s stock, valued at approximately $705,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COHU. Kestra Advisory Services LLC purchased a new stake in Cohu during the fourth quarter worth about $34,000. Farther Finance Advisors LLC grew its holdings in shares of Cohu by 45.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 452 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Cohu in the fourth quarter valued at approximately $37,000. Gen Wealth Partners Inc purchased a new stake in Cohu during the 4th quarter worth approximately $44,000. Finally, Smartleaf Asset Management LLC increased its stake in Cohu by 202.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,113 shares of the semiconductor company’s stock worth $41,000 after buying an additional 1,415 shares during the period. 94.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COHU has been the topic of several analyst reports. Jefferies Financial Group set a $60.00 price objective on Cohu and gave the company a “buy” rating in a research note on Friday, May 1st. TD Cowen boosted their target price on Cohu from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Evercore restated an “outperform” rating and set a $53.00 price target on shares of Cohu in a report on Tuesday, April 28th. Needham & Company LLC increased their price target on Cohu from $33.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, B. Riley Financial reiterated a “buy” rating on shares of Cohu in a research note on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.33.

Insider Buying and Selling at Cohu

In other news, CFO Jeffrey D. Jones sold 13,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $46.84, for a total value of $608,920.00. Following the completion of the sale, the chief financial officer directly owned 343,792 shares of the company’s stock, valued at approximately $16,103,217.28. The trade was a 3.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Luis A. Muller sold 45,154 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 927,619 shares of the company’s stock, valued at approximately $43,245,597.78. This trade represents 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. In the last three months, insiders have sold 90,668 shares of company stock valued at $4,248,016. 3.05% of the stock is owned by insiders.

Cohu Trading Down 14.2%

NASDAQ:COHU opened at $59.27 on Friday. Cohu, Inc. has a 1 year low of $17.80 and a 1 year high of $74.60. The stock has a market cap of $2.80 billion, a P/E ratio of -49.81 and a beta of 1.54. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.31 and a current ratio of 6.43. The stock has a 50-day simple moving average of $54.59 and a 200-day simple moving average of $38.46.

Cohu (NASDAQ:COHU) last issued its earnings results 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). The business had revenue of $125.12 million for the quarter, compared to analyst estimates of $122.14 million. Cohu had a negative return on equity of 3.50% and a negative net margin of 11.54%.Cohu’s revenue was up 29.3% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS. As a group, analysts anticipate that Cohu, Inc. will post 0.17 earnings per share for the current fiscal year.

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.