Needham & Company LLC Cuts Cohu (NASDAQ:COHU) Price Target to $33.00

Cohu (NASDAQ:COHU) had its price target decreased by Needham & Company LLC from $37.00 to $33.00 in a report released on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the company. Craig Hallum decreased their price target on Cohu from $35.00 to $30.00 and set a hold rating for the company in a report on Friday, May 3rd. TD Cowen reduced their target price on shares of Cohu from $40.00 to $36.00 and set a buy rating for the company in a research note on Friday, May 3rd. B. Riley dropped their price target on shares of Cohu from $45.00 to $40.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Finally, Citigroup downgraded shares of Cohu from a buy rating to a neutral rating and set a $36.00 price objective for the company. in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $35.00.

Cohu Price Performance

Shares of NASDAQ:COHU opened at $26.62 on Thursday. Cohu has a one year low of $26.25 and a one year high of $41.75. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -532.40 and a beta of 1.58. The company has a 50-day simple moving average of $32.38 and a 200-day simple moving average of $31.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.63 and a current ratio of 6.95.

Cohu (NASDAQ:COHU) last posted its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cohu had a positive return on equity of 1.27% and a negative net margin of 5.70%. The firm had revenue of $107.61 million during the quarter, compared to the consensus estimate of $107.00 million. On average, analysts predict that Cohu will post -0.07 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Bendush sold 2,500 shares of Cohu stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $29.27, for a total transaction of $73,175.00. Following the completion of the sale, the director now directly owns 34,162 shares in the company, valued at approximately $999,921.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Christopher Bohrson sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $30.00, for a total value of $60,000.00. Following the sale, the senior vice president now directly owns 130,339 shares in the company, valued at approximately $3,910,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Bendush sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $29.27, for a total transaction of $73,175.00. Following the transaction, the director now owns 34,162 shares of the company’s stock, valued at $999,921.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,091 shares of company stock worth $298,755. 2.70% of the stock is owned by company insiders.

Institutional Trading of Cohu

Several large investors have recently modified their holdings of the business. Wedge Capital Management L L P NC lifted its stake in Cohu by 1.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 47,223 shares of the semiconductor company’s stock valued at $1,563,000 after buying an additional 466 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Cohu by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 41,576 shares of the semiconductor company’s stock valued at $1,386,000 after acquiring an additional 539 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of Cohu by 1.7% during the second quarter. Linden Thomas Advisory Services LLC now owns 34,091 shares of the semiconductor company’s stock valued at $1,128,000 after acquiring an additional 555 shares during the last quarter. ProShare Advisors LLC increased its position in Cohu by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 9,433 shares of the semiconductor company’s stock worth $314,000 after purchasing an additional 649 shares in the last quarter. Finally, Signaturefd LLC increased its position in Cohu by 1,256.3% during the 2nd quarter. Signaturefd LLC now owns 868 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 804 shares in the last quarter. 94.67% of the stock is currently owned by institutional investors and hedge funds.

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.