Cohu (NASDAQ:COHU) Shares Gap Down – Should You Sell?

Cohu, Inc. (NASDAQ:COHU) shares gapped down before the market opened on Monday . The stock had previously closed at $25.39, but opened at $23.84. Cohu shares last traded at $24.22, with a volume of 41,108 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on COHU shares. Craig Hallum upgraded shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, November 1st. Needham & Company LLC cut shares of Cohu from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group cut their price objective on shares of Cohu from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Finally, TD Cowen reduced their target price on Cohu from $36.00 to $30.00 and set a “buy” rating for the company in a 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’s stock. Based on data from MarketBeat, Cohu currently has a consensus rating of “Hold” and an average price target of $31.50.

Cohu Stock Down 7.1 %

The stock has a fifty day moving average price of $26.67 and a 200 day moving average price of $27.17. The stock has a market capitalization of $1.10 billion, a P/E ratio of -21.85 and a beta of 1.47. 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 quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The firm had revenue of $95.30 million for the quarter, compared to analysts’ expectations of $95.75 million. Cohu had a negative net margin of 11.35% and a negative return on equity of 1.01%. The firm’s revenue for the quarter was down 36.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share. On average, research analysts forecast that Cohu, Inc. will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in shares of Cohu during the 3rd quarter valued at $528,000. Charles Schwab Investment Management Inc. grew its stake in shares of Cohu by 10.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 624,274 shares of the semiconductor company’s stock worth $16,044,000 after buying an additional 59,806 shares during the last quarter. Creative Planning increased its holdings in shares of Cohu by 219.4% during the third quarter. Creative Planning now owns 27,237 shares of the semiconductor company’s stock valued at $700,000 after acquiring an additional 18,709 shares in the last quarter. 272 Capital LP increased its stake in Cohu by 137.9% during the 2nd quarter. 272 Capital LP now owns 58,654 shares of the semiconductor company’s stock valued at $1,941,000 after purchasing an additional 34,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Cohu by 286.1% during the third quarter. Assenagon Asset Management S.A. now owns 107,817 shares of the semiconductor company’s stock valued at $2,771,000 after acquiring an additional 79,890 shares in the last quarter. 94.67% of the stock is currently owned by hedge funds and other institutional investors.

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.