Cohu (NASDAQ:COHU) Hits New 52-Week Low – Here’s What Happened

Cohu, Inc. (NASDAQ:COHU)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $22.80 and last traded at $23.34, with a volume of 16477 shares changing hands. The stock had previously closed at $23.95.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC lowered Cohu from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. TD Cowen dropped their price target on shares of Cohu from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Craig Hallum raised shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Friday, November 1st. Finally, The Goldman Sachs Group dropped their target price on shares of Cohu from $26.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Cohu has a consensus rating of “Hold” and an average price target of $31.50.

Cohu Stock Performance

The stock’s 50 day simple moving average is $25.99 and its two-hundred day simple moving average is $26.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.38 and a quick ratio of 4.69.

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

Institutional Investors Weigh In On Cohu

Hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its position in shares of Cohu by 529.3% in the second quarter. Envestnet Asset Management Inc. now owns 70,880 shares of the semiconductor company’s stock valued at $2,346,000 after acquiring an additional 59,617 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Cohu during the 2nd quarter valued at $594,000. The Manufacturers Life Insurance Company increased its holdings in shares of Cohu by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 24,002 shares of the semiconductor company’s stock worth $794,000 after purchasing an additional 1,247 shares during the period. Mackenzie Financial Corp raised its position in shares of Cohu by 5.6% in the second quarter. Mackenzie Financial Corp now owns 7,939 shares of the semiconductor company’s stock worth $263,000 after buying an additional 419 shares in the last quarter. Finally, Algert Global LLC grew its position in Cohu by 38.0% during the second quarter. Algert Global LLC now owns 17,214 shares of the semiconductor company’s stock worth $570,000 after buying an additional 4,744 shares in the last quarter. Institutional investors own 94.67% of the company’s stock.

Cohu Company Profile

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.