Cohu (NASDAQ:COHU) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Cohu, Inc. (NASDAQ:COHU) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $27.28 and traded as high as $27.44. Cohu shares last traded at $26.37, with a volume of 283,230 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Craig Hallum raised Cohu from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Friday, November 1st. Needham & Company LLC lifted their price objective 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 lowered 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, TD Cowen reduced their price target on shares of Cohu from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.50.

Cohu Trading Down 3.1 %

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 cap of $1.23 billion, a P/E ratio of -24.42 and a beta of 1.47. The business’s fifty day simple moving average is $26.71 and its 200 day simple moving average is $27.28.

Cohu (NASDAQ:COHU) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.17) EPS 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 for the quarter, compared to the consensus estimate of $95.75 million. During the same period last year, the company earned $0.27 earnings per share. Cohu’s revenue for the quarter was down 36.8% compared to the same quarter last year. As a group, analysts expect that Cohu, Inc. will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Cohu

Several large investors have recently made changes to their positions in COHU. Franklin Resources Inc. raised its holdings in Cohu by 25.9% during the 3rd quarter. Franklin Resources Inc. now owns 3,145,692 shares of the semiconductor company’s stock worth $82,134,000 after purchasing an additional 647,828 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Cohu by 7.1% in the third quarter. Victory Capital Management Inc. now owns 3,358,288 shares of the semiconductor company’s stock valued at $86,308,000 after buying an additional 224,022 shares during the period. Royce & Associates LP boosted its stake in Cohu by 21.4% in the third quarter. Royce & Associates LP now owns 1,126,789 shares of the semiconductor company’s stock valued at $28,958,000 after acquiring an additional 198,849 shares during the last quarter. Tributary Capital Management LLC grew its holdings in Cohu by 46.4% during the 3rd quarter. Tributary Capital Management LLC now owns 521,047 shares of the semiconductor company’s stock worth $13,391,000 after acquiring an additional 165,135 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of Cohu by 11.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,462,410 shares of the semiconductor company’s stock valued at $37,584,000 after acquiring an additional 152,574 shares during the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.

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.