Cohu (NASDAQ:COHU) Shares Gap Down - Time to Sell?

Cohu, Inc. (NASDAQ:COHU - Get Free Report)'s stock price 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 traded.

Wall Street Analyst Weigh In

A number of analysts have commented on COHU shares. TD Cowen decreased their target price on Cohu from $36.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. The Goldman Sachs Group decreased their price objective 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. Needham & Company LLC downgraded shares of Cohu from a "buy" rating to a "hold" rating in a report on Monday. Finally, Craig Hallum raised shares of Cohu from a "hold" rating to a "buy" rating and set a $30.00 price target on the stock in a report on Friday, November 1st. Two equities research 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 MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $31.50.

Cohu Trading Down 6.9 %

The business's fifty day moving average price is $26.67 and its 200 day moving average price is $27.17. 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 firm has a market capitalization of $1.10 billion, a PE ratio of -21.88 and a beta of 1.47.

Cohu (NASDAQ:COHU - Get Free Report) last released its earnings results on Thursday, October 31st. The semiconductor company reported ($0.17) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $95.30 million during the quarter, compared to analysts' expectations of $95.75 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm's revenue was down 36.8% on a year-over-year basis. As a group, analysts expect that Cohu, Inc. will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Cohu

Hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. raised its stake in Cohu by 49.2% during the third quarter. First Horizon Advisors Inc. now owns 1,622 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 535 shares during the period. Mackenzie Financial Corp raised its position in shares of Cohu by 5.6% in the 2nd quarter. Mackenzie Financial Corp now owns 7,939 shares of the semiconductor company's stock worth $263,000 after buying an additional 419 shares during the period. Creative Planning acquired a new position in Cohu in the second quarter valued at $282,000. US Bancorp DE grew its position in Cohu by 59.7% during the third quarter. US Bancorp DE now owns 8,823 shares of the semiconductor company's stock valued at $227,000 after acquiring an additional 3,297 shares during the period. Finally, GSA Capital Partners LLP increased its stake in Cohu by 34.3% during the third quarter. GSA Capital Partners LLP now owns 9,922 shares of the semiconductor company's stock worth $255,000 after acquiring an additional 2,532 shares during the last quarter. 94.67% of the stock is owned by institutional investors and hedge funds.

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.