Cohu (NASDAQ:COHU) Price Target Cut to $23.00 by Analysts at The Goldman Sachs Group

Cohu (NASDAQ:COHU - Get Free Report) had its price target dropped by equities researchers at The Goldman Sachs Group from $26.00 to $23.00 in a research note issued on Friday, Benzinga reports. The firm presently has a "sell" rating on the semiconductor company's stock. The Goldman Sachs Group's price target points to a potential downside of 15.90% from the company's current price.

Several other equities analysts also recently commented on COHU. Citigroup downgraded shares of Cohu from a "buy" rating to a "neutral" rating and set a $36.00 price objective for the company. in a research note on Monday, July 15th. Craig Hallum upgraded Cohu from a "hold" rating to a "buy" rating and set a $30.00 price target for the company in a research note on Friday. TD Cowen reduced their price objective on Cohu from $36.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday. StockNews.com downgraded Cohu from a "hold" rating to a "sell" rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC boosted their price target on Cohu from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Friday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Cohu presently has a consensus rating of "Hold" and a consensus target price of $31.50.

Cohu Price Performance

Cohu stock traded up $2.43 during trading hours on Friday, reaching $27.35. 745,008 shares of the stock were exchanged, compared to its average volume of 311,069. The company has a current ratio of 6.95, a quick ratio of 5.09 and a debt-to-equity ratio of 0.01. Cohu has a twelve month low of $22.80 and a twelve month high of $36.60. The company has a market cap of $1.28 billion, a P/E ratio of -44.84 and a beta of 1.53. The stock has a 50 day moving average of $25.18 and a two-hundred day moving average of $28.66.

Cohu (NASDAQ:COHU - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Cohu had a positive return on equity of 1.27% and a negative net margin of 5.70%. The firm had revenue of $95.30 million for the quarter, compared to analyst estimates of $95.75 million. During the same quarter in the prior year, the business posted $0.27 EPS. The business's revenue was down 36.8% on a year-over-year basis. Equities analysts expect that Cohu will post -0.41 EPS for the current fiscal year.

Insider Transactions at Cohu

In other Cohu news, Director Nina Richardson sold 4,999 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $24.14, for a total transaction of $120,675.86. Following the completion of the sale, the director now owns 28,313 shares of the company's stock, valued at approximately $683,475.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 5,399 shares of company stock worth $130,204 over the last ninety days. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in COHU. Inspire Advisors LLC bought a new position in Cohu during the first quarter worth $755,000. Vanguard Group Inc. increased its position in shares of Cohu by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,165,622 shares of the semiconductor company's stock worth $147,421,000 after acquiring an additional 59,716 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Cohu by 111.0% in the 1st quarter. BNP Paribas Financial Markets now owns 39,061 shares of the semiconductor company's stock valued at $1,302,000 after acquiring an additional 20,549 shares in the last quarter. Sei Investments Co. lifted its position in Cohu by 11.2% in the 1st quarter. Sei Investments Co. now owns 160,259 shares of the semiconductor company's stock valued at $5,341,000 after acquiring an additional 16,159 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Cohu during the 1st quarter valued at about $596,000. 94.67% of the stock is owned by institutional investors.

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.