The Goldman Sachs Group Cuts Cohu (NASDAQ:COHU) Price Target to $23.00

Cohu (NASDAQ:COHU) had its price target lowered by The Goldman Sachs Group from $26.00 to $23.00 in a research report report published on Friday, Benzinga reports. The firm currently has a sell rating on the semiconductor company’s stock.

COHU has been the topic of several other research reports. StockNews.com lowered Cohu from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. TD Cowen cut their price objective on shares of Cohu from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday. Craig Hallum raised shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday. Citigroup lowered shares of Cohu from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Monday, July 15th. Finally, Needham & Company LLC increased their price objective on Cohu from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Cohu currently has an average rating of “Hold” and a consensus target price of $31.50.

Cohu Price Performance

Shares of COHU opened at $27.35 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.09 and a current ratio of 6.95. The company has a 50 day moving average price of $25.18 and a 200-day moving average price of $28.64. Cohu has a fifty-two week low of $22.80 and a fifty-two week high of $36.60. The stock has a market capitalization of $1.28 billion, a PE ratio of -25.32 and a beta of 1.52.

Cohu (NASDAQ:COHU) last posted its earnings results on Thursday, October 31st. The semiconductor company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Cohu had a negative return on equity of 1.00% and a negative net margin of 11.35%. The company had revenue of $95.30 million for the quarter, compared to analysts’ expectations of $95.75 million. During the same quarter in the prior year, the company earned $0.27 EPS. The firm’s quarterly revenue was down 36.8% on a year-over-year basis. Equities analysts predict that Cohu will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cohu news, Director Nina Richardson sold 4,999 shares of Cohu stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $24.14, for a total transaction of $120,675.86. Following the completion of the sale, the director now directly owns 28,313 shares in the company, valued at approximately $683,475.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 5,399 shares of company stock worth $130,204. 2.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cohu

Several institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its position in Cohu by 1,256.3% during the second quarter. Signaturefd LLC now owns 868 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 804 shares during the period. First Horizon Advisors Inc. grew its position in shares of Cohu by 558.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,087 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 922 shares during the period. CWM LLC increased its stake in shares of Cohu by 158.1% in the 2nd quarter. CWM LLC now owns 1,533 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 939 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Cohu in the 2nd quarter worth about $97,000. Finally, Perkins Coie Trust Co purchased a new position in Cohu during the second quarter worth approximately $132,000. Institutional investors and hedge funds 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.