Cohu (NASDAQ:COHU) Stock Rating Lowered by Needham & Company LLC

Needham & Company LLC cut shares of Cohu (NASDAQ:COHU) from a buy rating to a hold rating in a research note published on Monday morning, Marketbeat reports.

Other equities analysts have also issued reports about the company. TD Cowen lowered their target price on Cohu from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. The Goldman Sachs Group lowered their price objective on shares of Cohu from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Finally, Craig Hallum upgraded shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.50.

Cohu Stock Up 0.9 %

Shares of NASDAQ COHU opened at $24.22 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.38 and a quick ratio of 4.69. The company’s fifty day simple moving average is $26.54 and its 200 day simple moving average is $27.05. Cohu has a 12-month low of $22.80 and a 12-month high of $36.60.

Cohu (NASDAQ:COHU) last issued its earnings results on Thursday, October 31st. The semiconductor company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Cohu had a negative net margin of 11.35% and a negative return on equity of 1.01%. The firm had revenue of $95.30 million during the quarter, compared to analyst estimates of $95.75 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business’s quarterly revenue was down 36.8% on a year-over-year basis. On average, equities analysts predict that Cohu will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Cohu

Several institutional investors have recently added to or reduced their stakes in COHU. International Assets Investment Management LLC bought a new stake in Cohu in the third quarter worth about $528,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Cohu by 10.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 624,274 shares of the semiconductor company’s stock worth $16,044,000 after purchasing an additional 59,806 shares during the period. Creative Planning lifted its stake in Cohu by 219.4% in the third quarter. Creative Planning now owns 27,237 shares of the semiconductor company’s stock valued at $700,000 after purchasing an additional 18,709 shares during the last quarter. 272 Capital LP lifted its stake in Cohu by 137.9% in the second quarter. 272 Capital LP now owns 58,654 shares of the semiconductor company’s stock valued at $1,941,000 after purchasing an additional 34,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Cohu by 286.1% in the third quarter. Assenagon Asset Management S.A. now owns 107,817 shares of the semiconductor company’s stock worth $2,771,000 after buying an additional 79,890 shares during the last quarter. Institutional investors own 94.67% of the company’s stock.

About Cohu

Cohu, Inc, through its subsidiaries, provides semiconductor test equipment and services in China, the United States, Taiwan, Malaysia, the Philippines, and internationally. The company supplies semiconductor test and inspection handlers, micro-electromechanical system (MEMS) test modules, test contactors, thermal sub-systems, and semiconductor automated test equipment for semiconductor manufacturers and test subcontractors.