abrdn plc Decreases Stake in Cohu, Inc. (NASDAQ:COHU)

abrdn plc lessened its holdings in Cohu, Inc. (NASDAQ:COHU) by 11.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 708,398 shares of the semiconductor company’s stock after selling 91,371 shares during the quarter. abrdn plc’s holdings in Cohu were worth $18,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of COHU. Signaturefd LLC boosted its position in Cohu by 1,256.3% in the second quarter. Signaturefd LLC now owns 868 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 804 shares during the last quarter. First Horizon Advisors Inc. grew its position in Cohu by 558.8% during the second quarter. First Horizon Advisors Inc. now owns 1,087 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 922 shares during the period. CWM LLC increased its holdings in Cohu by 158.1% during the second quarter. CWM LLC now owns 1,533 shares of the semiconductor company’s stock worth $51,000 after buying an additional 939 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Cohu in the second quarter worth about $97,000. Finally, Perkins Coie Trust Co purchased a new position in Cohu in the second quarter valued at about $132,000. 94.67% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Nina Richardson sold 4,999 shares of the company’s 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 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 legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 5,399 shares of company stock worth $130,204. 2.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com cut shares of Cohu from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Citigroup lowered Cohu from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research note on Monday, July 15th. Finally, Needham & Company LLC cut their price target on Cohu from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.00.

Cohu Price Performance

Cohu stock opened at $24.92 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.95 and a quick ratio of 5.09. Cohu, Inc. has a one year low of $22.80 and a one year high of $36.60. The firm has a market capitalization of $1.17 billion, a P/E ratio of -40.85 and a beta of 1.53. The business has a fifty day moving average price of $25.19 and a 200-day moving average price of $28.71.

Cohu (NASDAQ:COHU) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). Cohu had a positive return on equity of 1.27% and a negative net margin of 5.70%. The company had revenue of $104.70 million during the quarter, compared to the consensus estimate of $105.00 million. As a group, equities research analysts forecast that Cohu, Inc. will post -0.41 EPS 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.