Penbrook Management LLC Lowers Position in Cohu, Inc. (NASDAQ:COHU)

Penbrook Management LLC trimmed its holdings in shares of Cohu, Inc. (NASDAQ:COHU) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,100 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. Cohu accounts for about 1.0% of Penbrook Management LLC’s holdings, making the stock its 24th largest position. Penbrook Management LLC owned about 0.12% of Cohu worth $1,444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Cohu during the third quarter valued at approximately $528,000. Charles Schwab Investment Management Inc. increased its position in shares of Cohu by 10.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 624,274 shares of the semiconductor company’s stock valued at $16,044,000 after acquiring an additional 59,806 shares during the last quarter. Creative Planning increased its position 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 during the last quarter. Assenagon Asset Management S.A. grew its holdings in 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 purchasing an additional 79,890 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Cohu by 7.1% during the third quarter. Victory Capital Management Inc. now owns 3,358,288 shares of the semiconductor company’s stock valued at $86,308,000 after purchasing an additional 224,022 shares during the period. 94.67% of the stock is owned by hedge funds and other institutional investors.

Cohu Price Performance

Cohu stock opened at $22.47 on Thursday. Cohu, Inc. has a one year low of $21.60 and a one year high of $36.60. The business has a fifty day moving average price of $25.93 and a 200-day moving average price of $26.31. The company has a quick ratio of 4.69, a current ratio of 6.38 and a debt-to-equity ratio of 0.01.

Cohu (NASDAQ:COHU) last issued its quarterly earnings data 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). Cohu had a negative return on equity of 1.01% and a negative net margin of 11.35%. The business had revenue of $95.30 million during the quarter, compared to analysts’ expectations of $95.75 million. During the same quarter last year, the business posted $0.27 EPS. The company’s quarterly revenue was down 36.8% on a year-over-year basis. As a group, equities analysts anticipate that Cohu, Inc. will post -0.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COHU. Needham & Company LLC lowered Cohu from a “buy” rating to a “hold” rating in a report on Monday, January 13th. The Goldman Sachs Group reduced their price objective on Cohu from $26.00 to $23.00 and set a “sell” rating for the company in a report on Friday, November 1st. TD Cowen reduced their price objective on Cohu from $36.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Craig Hallum raised Cohu from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cohu currently has a consensus rating of “Hold” and an average target price of $31.50.

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.