Cohu (NASDAQ:COHU) Shares Gap Down Following Analyst Downgrade

Cohu, Inc. (NASDAQ:COHU - Get Free Report)'s share price gapped down before the market opened on Friday after B. Riley lowered their price target on the stock from $34.00 to $30.00. The stock had previously closed at $21.47, but opened at $20.31. B. Riley currently has a buy rating on the stock. Cohu shares last traded at $20.83, with a volume of 94,945 shares changing hands.

Other analysts also recently issued research reports about the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Cohu in a research note on Friday. Stifel Nicolaus reduced their price target on shares of Cohu from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Friday. TD Cowen lowered their price objective on shares of Cohu from $36.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, November 1st. The Goldman Sachs Group reduced their target price 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, Craig Hallum raised 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Cohu presently has a consensus rating of "Hold" and an average target price of $30.57.

Institutional Investors Weigh In On Cohu

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in Cohu by 7.1% during the 3rd 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 last quarter. Franklin Resources Inc. boosted its position in shares of Cohu by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 3,191,263 shares of the semiconductor company's stock valued at $85,207,000 after buying an additional 45,571 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Cohu by 78.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,615,235 shares of the semiconductor company's stock valued at $69,827,000 after buying an additional 1,152,825 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Cohu by 28.0% in the fourth quarter. Royce & Associates LP now owns 1,442,394 shares of the semiconductor company's stock worth $38,512,000 after buying an additional 315,605 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Cohu by 15.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,148,977 shares of the semiconductor company's stock worth $30,678,000 after buying an additional 154,550 shares during the period. Hedge funds and other institutional investors own 94.67% of the company's stock.

Cohu Price Performance

The stock has a 50 day moving average of $24.63 and a 200-day moving average of $25.30. The company has a current ratio of 6.38, a quick ratio of 4.69 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $993.03 million, a P/E ratio of -19.73 and a beta of 1.45.

Cohu (NASDAQ:COHU - Get Free Report) last released its earnings results on Thursday, February 20th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.18). Cohu had a negative return on equity of 1.01% and a negative net margin of 11.35%. On average, equities research analysts anticipate that Cohu, Inc. will post -0.51 earnings per share for the current fiscal year.

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.