Stock Traders Purchase High Volume of Cohu Call Options (NASDAQ:COHU)

Cohu, Inc. (NASDAQ:COHU) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 1,610 call options on the stock. This is an increase of 2,303% compared to the average daily volume of 67 call options.

COHU has been the subject of a number of analyst reports. DA Davidson boosted their price target on Cohu from $19.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Craig Hallum initiated coverage on Cohu in a report on Thursday, September 5th. They issued a “buy” rating and a $20.00 price target for the company. Zacks Investment Research raised Cohu from a “sell” rating to a “hold” rating and set a $22.00 price target for the company in a report on Tuesday, November 5th. ValuEngine cut Cohu from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, BidaskClub raised Cohu from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 26th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Cohu has an average rating of “Buy” and an average target price of $22.60.

Shares of NASDAQ COHU traded down $0.13 during trading on Thursday, reaching $20.08. The company had a trading volume of 16,254 shares, compared to its average volume of 291,683. Cohu has a twelve month low of $11.37 and a twelve month high of $20.27. The stock has a market capitalization of $813.36 million, a PE ratio of 16.19 and a beta of 1.41. The stock has a 50-day moving average price of $15.71 and a two-hundred day moving average price of $14.93. The company has a current ratio of 3.10, a quick ratio of 2.14 and a debt-to-equity ratio of 0.76.

Cohu (NASDAQ:COHU) last released its quarterly earnings results on Sunday, November 3rd. The semiconductor company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.18. The company had revenue of $143.50 million during the quarter, compared to analysts’ expectations of $142.99 million. Cohu had a positive return on equity of 0.35% and a negative net margin of 17.84%. The business’s revenue for the quarter was up 66.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. On average, sell-side analysts predict that Cohu will post -0.13 EPS for the current year.

The firm also recently disclosed a dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 15th will be given a $0.06 dividend. The ex-dividend date is Thursday, November 14th. Cohu’s dividend payout ratio is currently 19.35%.

In related news, VP Pascal Ronde sold 10,000 shares of Cohu stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $19.45, for a total transaction of $194,500.00. Following the completion of the transaction, the vice president now directly owns 152,705 shares of the company’s stock, valued at $2,970,112.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.52% of the company’s stock.

Several large investors have recently made changes to their positions in COHU. Peregrine Capital Management LLC purchased a new stake in shares of Cohu in the second quarter valued at $6,620,000. Renaissance Technologies LLC grew its position in Cohu by 42.8% during the second quarter. Renaissance Technologies LLC now owns 988,254 shares of the semiconductor company’s stock valued at $15,249,000 after acquiring an additional 296,300 shares during the period. Systematic Financial Management LP grew its position in Cohu by 17.3% during the third quarter. Systematic Financial Management LP now owns 1,346,864 shares of the semiconductor company’s stock valued at $18,189,000 after acquiring an additional 198,366 shares during the period. BlackRock Inc. grew its position in Cohu by 3.2% during the second quarter. BlackRock Inc. now owns 6,196,120 shares of the semiconductor company’s stock valued at $95,606,000 after acquiring an additional 192,469 shares during the period. Finally, Wells Fargo & Company MN grew its position in Cohu by 194.4% during the second quarter. Wells Fargo & Company MN now owns 286,730 shares of the semiconductor company’s stock valued at $4,424,000 after acquiring an additional 189,322 shares during the period. 92.23% of the stock is owned by institutional investors and hedge funds.

Cohu Company Profile

Cohu, Inc, through its subsidiaries, provides semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors, thermal sub-systems, semiconductor automated test equipment (ATE), and bare board printed circuit board (PCB) test systems for semiconductor and electronics manufacturers, and test subcontractors worldwide.

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