Assenagon Asset Management S.A. Sells 6,296 Shares of Cohu, Inc. (NASDAQ:COHU)

Assenagon Asset Management S.A. trimmed its stake in shares of Cohu, Inc. (NASDAQ:COHU) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,521 shares of the semiconductor company’s stock after selling 6,296 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cohu were worth $2,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in Cohu by 49.2% during the third quarter. First Horizon Advisors Inc. now owns 1,622 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 535 shares during the period. US Bancorp DE grew its stake in Cohu by 59.7% during the third quarter. US Bancorp DE now owns 8,823 shares of the semiconductor company’s stock worth $227,000 after purchasing an additional 3,297 shares during the period. GSA Capital Partners LLP grew its stake in Cohu by 34.3% during the third quarter. GSA Capital Partners LLP now owns 9,922 shares of the semiconductor company’s stock worth $255,000 after purchasing an additional 2,532 shares during the period. Meros Investment Management LP acquired a new stake in Cohu during the third quarter worth approximately $257,000. Finally, Mackenzie Financial Corp grew its stake in Cohu by 5.6% during the second quarter. Mackenzie Financial Corp now owns 7,939 shares of the semiconductor company’s stock worth $263,000 after purchasing an additional 419 shares during the period. 94.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on COHU shares. Needham & Company LLC cut Cohu from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. The Goldman Sachs Group decreased their target price on Cohu from $26.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Craig Hallum raised Cohu from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Friday, November 1st. Finally, TD Cowen reduced their price objective on Cohu from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Cohu has a consensus rating of “Hold” and an average price target of $31.50.

Cohu Stock Up 1.9 %

Shares of NASDAQ:COHU opened at $24.87 on Wednesday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -23.03 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, Inc. has a 12-month low of $22.80 and a 12-month high of $36.60. The business’s 50 day moving average is $26.18 and its 200 day moving average is $26.74.

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

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.