Zacks Investment Research Upgrades Cohu (NASDAQ:COHU) to Buy

Zacks Investment Research upgraded shares of Cohu (NASDAQ:COHU) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports. The brokerage currently has $27.00 target price on the semiconductor company’s stock.

According to Zacks, “Cohu is a leading supplier of semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors and thermal sub-systems used by global semiconductor manufacturers and test subcontractors. “

A number of other equities analysts have also weighed in on COHU. Deutsche Bank began coverage on shares of Cohu in a research note on Sunday. They issued a buy rating and a $27.00 target price for the company. BidaskClub raised shares of Cohu from a buy rating to a strong-buy rating in a research note on Wednesday, December 18th. ValuEngine cut shares of Cohu from a buy rating to a hold rating in a research report on Saturday, December 21st. Finally, DA Davidson boosted their price target on shares of Cohu from $3.00 to $30.00 and gave the stock a buy rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $25.00.

NASDAQ COHU traded down $0.31 on Tuesday, reaching $23.68. The company had a trading volume of 6,605 shares, compared to its average volume of 266,453. The firm has a market capitalization of $959.65 million, a price-to-earnings ratio of 19.21 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.14 and a current ratio of 3.10. Cohu has a 1-year low of $11.37 and a 1-year high of $24.44. The company’s fifty day moving average is $21.03 and its 200-day moving average is $16.43.

Cohu (NASDAQ:COHU) last announced its 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 firm had revenue of $143.50 million during the quarter, compared to analyst estimates of $142.99 million. Cohu had a negative net margin of 17.84% and a positive return on equity of 0.35%. The company’s revenue for the quarter was up 66.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. On average, research analysts forecast that Cohu will post -0.13 earnings per share for the current year.

The firm also recently declared a dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 15th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, November 14th. Cohu’s dividend payout ratio (DPR) is presently 19.35%.

In other Cohu news, VP Pascal Ronde sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $19.45, for a total transaction of $194,500.00. Following the sale, the vice president now directly owns 152,705 shares of the company’s stock, valued at approximately $2,970,112.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven J. Bilodeau sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the sale, the director now directly owns 97,600 shares in the company, valued at $1,952,000. The disclosure for this sale can be found here. Insiders own 3.52% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Brasada Capital Management LP bought a new stake in shares of Cohu in the 4th quarter valued at about $411,000. Millennium Management LLC raised its holdings in Cohu by 251.6% in the 3rd quarter. Millennium Management LLC now owns 58,939 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 42,178 shares during the period. California State Teachers Retirement System raised its holdings in Cohu by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 62,737 shares of the semiconductor company’s stock valued at $847,000 after acquiring an additional 749 shares during the period. State Street Corp raised its holdings in Cohu by 0.4% in the 3rd quarter. State Street Corp now owns 1,311,724 shares of the semiconductor company’s stock valued at $17,793,000 after acquiring an additional 4,883 shares during the period. Finally, Systematic Financial Management LP raised its holdings in Cohu by 17.3% in the 3rd 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. 91.37% of the stock is currently owned by institutional investors.

About Cohu

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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Analyst Recommendations for Cohu (NASDAQ:COHU)

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