Cohu (NASDAQ:COHU) Lowered to "Hold" Rating by Needham & Company LLC

Cohu (NASDAQ:COHU - Get Free Report) was downgraded by analysts at Needham & Company LLC from a "buy" rating to a "hold" rating in a research report issued on Monday, MarketBeat.com reports.

Other equities research analysts have also recently issued research reports about the company. TD Cowen dropped 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. The Goldman Sachs Group lowered their target price on shares of Cohu from $26.00 to $23.00 and set a "sell" rating for the company in a report 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 objective for the company in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $31.50.

Cohu Price Performance

Shares of Cohu stock traded down $1.76 during trading on Monday, hitting $23.63. 496,669 shares of the stock traded hands, compared to its average volume of 296,138. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -21.88 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. Cohu has a 52 week low of $22.80 and a 52 week high of $36.60. The firm's fifty day moving average is $26.61 and its 200-day moving average is $27.12.

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

Hedge Funds Weigh In On Cohu

A number of hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its holdings 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 valued at $263,000 after purchasing an additional 419 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Cohu by 49.2% in the third quarter. First Horizon Advisors Inc. now owns 1,622 shares of the semiconductor company's stock worth $42,000 after acquiring an additional 535 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Cohu by 3.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 36,725 shares of the semiconductor company's stock worth $944,000 after purchasing an additional 1,141 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Cohu by 5.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,002 shares of the semiconductor company's stock valued at $794,000 after acquiring an additional 1,247 shares during the period. Finally, GSA Capital Partners LLP boosted its position in Cohu by 34.3% in the third quarter. GSA Capital Partners LLP now owns 9,922 shares of the semiconductor company's stock valued at $255,000 after buying an additional 2,532 shares during the last quarter. 94.67% of the stock is currently owned by 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.