Cohu (NASDAQ:COHU) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Cohu, Inc. (NASDAQ:COHU) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.28 and traded as high as $27.44. Cohu shares last traded at $26.37, with a volume of 283,230 shares traded.

Wall Street Analyst Weigh In

Several research firms recently commented on COHU. The Goldman Sachs Group reduced their price target on Cohu from $26.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. TD Cowen lowered their price target on Cohu from $36.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 1st. Needham & Company LLC raised their price objective on Cohu from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Craig Hallum upgraded shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.50.

Cohu Stock Down 3.7 %

The stock has a market cap of $1.18 billion, a P/E ratio of -23.51 and a beta of 1.47. The company has a quick ratio of 4.69, a current ratio of 6.38 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $26.71 and a 200-day simple moving average of $27.28.

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

Hedge Funds Weigh In On Cohu

A number of large investors have recently modified their holdings of COHU. Envestnet Asset Management Inc. lifted its holdings in 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 buying an additional 59,617 shares during the period. Oak Associates Ltd. OH raised its holdings in Cohu by 0.6% during the 2nd quarter. Oak Associates Ltd. OH now owns 83,704 shares of the semiconductor company’s stock worth $2,771,000 after buying an additional 521 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cohu by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,161,347 shares of the semiconductor company’s stock worth $104,638,000 after purchasing an additional 51,640 shares during the period. Public Sector Pension Investment Board raised its position in Cohu by 6.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 103,615 shares of the semiconductor company’s stock valued at $3,430,000 after buying an additional 6,239 shares during the last quarter. Finally, 272 Capital LP boosted its holdings in Cohu by 137.9% during the second quarter. 272 Capital LP now owns 58,654 shares of the semiconductor company’s stock worth $1,941,000 after purchasing an additional 34,000 shares during 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.