Verition Fund Management LLC Sells 3,680 Shares of Cohu, Inc. (NASDAQ:COHU)

Verition Fund Management LLC lessened its holdings in Cohu, Inc. (NASDAQ:COHU) by 15.2% during the third quarter, HoldingsChannel reports. The fund owned 20,486 shares of the semiconductor company’s stock after selling 3,680 shares during the quarter. Verition Fund Management LLC’s holdings in Cohu were worth $526,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Cohu in the third quarter worth $528,000. Creative Planning boosted its holdings in Cohu by 219.4% in the 3rd 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 period. Charles Schwab Investment Management Inc. increased its holdings in shares of Cohu by 10.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 624,274 shares of the semiconductor company’s stock worth $16,044,000 after purchasing an additional 59,806 shares during the period. 272 Capital LP raised its position in shares of Cohu by 137.9% in the second quarter. 272 Capital LP now owns 58,654 shares of the semiconductor company’s stock worth $1,941,000 after buying an additional 34,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Cohu by 286.1% during the third quarter. Assenagon Asset Management S.A. now owns 107,817 shares of the semiconductor company’s stock valued at $2,771,000 after buying an additional 79,890 shares during the period. 94.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COHU has been the topic of several recent analyst reports. Needham & Company LLC raised their price target on Cohu from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group dropped their target price on Cohu from $26.00 to $23.00 and set a “sell” rating for the company in a report on Friday, November 1st. TD Cowen dropped their target price on shares of Cohu from $36.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Craig Hallum upgraded Cohu from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.50.

Insider Activity

In other Cohu news, Director Nina Richardson sold 4,999 shares of the stock in a transaction 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 transaction, the director now owns 28,313 shares in the company, valued at $683,475.82. This trade represents a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 5,599 shares of company stock worth $136,724 over the last quarter. Insiders own 2.70% of the company’s stock.

Cohu Stock Performance

COHU stock opened at $26.92 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.38 and a quick ratio of 4.69. Cohu, Inc. has a 1 year low of $22.80 and a 1 year high of $36.60. The company has a market cap of $1.25 billion, a P/E ratio of -24.93 and a beta of 1.51. The stock’s fifty day moving average price is $26.07 and its 200-day moving average price is $28.02.

Cohu (NASDAQ:COHU) 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 negative return on equity of 1.01% and a negative net margin of 11.35%. The company had revenue of $95.30 million during the quarter, compared to analysts’ expectations of $95.75 million. During the same quarter in the previous year, the company earned $0.27 EPS. The business’s quarterly revenue was down 36.8% compared to the same quarter last year. On average, equities analysts forecast that Cohu, Inc. will post -0.46 earnings per share for the current 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.