abrdn plc Cuts Stock Holdings in Cohu, Inc. (NASDAQ:COHU)

abrdn plc cut its holdings in shares of Cohu, Inc. (NASDAQ:COHU - Free Report) by 11.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 708,398 shares of the semiconductor company's stock after selling 91,371 shares during the period. abrdn plc owned about 1.50% of Cohu worth $18,206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COHU. Tributary Capital Management LLC boosted its stake in Cohu by 46.4% in the third quarter. Tributary Capital Management LLC now owns 521,047 shares of the semiconductor company's stock valued at $13,391,000 after acquiring an additional 165,135 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Cohu by 286.1% in the 3rd 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. International Assets Investment Management LLC bought a new position in shares of Cohu in the 3rd quarter worth $528,000. Trust Point Inc. acquired a new stake in shares of Cohu during the third quarter worth $552,000. Finally, Creative Planning increased its holdings in Cohu by 219.4% in the third quarter. Creative Planning now owns 27,237 shares of the semiconductor company's stock valued at $700,000 after purchasing an additional 18,709 shares during the last quarter. 94.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cohu news, Director Nina Richardson sold 4,999 shares of the company's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $24.14, for a total value of $120,675.86. Following the sale, the director now owns 28,313 shares in the company, valued at approximately $683,475.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 5,399 shares of company stock worth $130,204 in the last three months. 2.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on COHU shares. Needham & Company LLC lifted their price objective on shares of Cohu from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday. StockNews.com lowered shares of Cohu from a "hold" rating to a "sell" rating in a report on Friday, August 2nd. TD Cowen dropped their price objective on Cohu from $36.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday. Citigroup cut Cohu from a "buy" rating to a "neutral" rating and set a $36.00 target price for the company. in a research note on Monday, July 15th. Finally, Craig Hallum upgraded Cohu from a "hold" rating to a "buy" rating and set a $30.00 price target for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $31.50.

Cohu Price Performance

Shares of NASDAQ COHU traded up $2.43 during midday trading on Friday, reaching $27.35. The company's stock had a trading volume of 745,008 shares, compared to its average volume of 311,069. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.09 and a current ratio of 6.95. The company has a market cap of $1.28 billion, a P/E ratio of -44.84 and a beta of 1.53. The business's 50 day moving average price is $25.18 and its two-hundred day moving average price is $28.66. Cohu, Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $36.60.

Cohu (NASDAQ:COHU - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates 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 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 business posted $0.27 EPS. The firm's revenue for the quarter was down 36.8% on a year-over-year basis. On average, analysts forecast that Cohu, Inc. will post -0.41 EPS for the current fiscal year.

Cohu 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.