Cohu (NASDAQ:COHU) Shares Cross Above 200 Day Moving Average – Here’s Why

Cohu, Inc. (NASDAQ:COHU) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Cohu from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, November 1st. TD Cowen lowered their price objective 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. Craig Hallum raised shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Friday, November 1st. Finally, Needham & Company LLC lifted their target price on shares of Cohu from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.50.

Cohu Trading Down 3.1 %

The firm’s 50 day moving average is $26.71 and its 200 day moving average is $27.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.38 and a quick ratio of 4.69. The company has a market capitalization of $1.23 billion, a PE ratio of -24.42 and a beta of 1.47.

Cohu (NASDAQ:COHU) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The firm had revenue of $95.30 million for the quarter, compared to the consensus estimate of $95.75 million. Cohu had a negative net margin of 11.35% and a negative return on equity of 1.01%. The business’s revenue was down 36.8% on a year-over-year basis. During the same period last year, the company posted $0.27 earnings per share. As a group, equities analysts predict that Cohu, Inc. will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Cohu

Several hedge funds have recently made changes to their positions in COHU. Victory Capital Management Inc. lifted its stake 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 worth $86,308,000 after acquiring an additional 224,022 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cohu by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,161,347 shares of the semiconductor company’s stock valued at $104,638,000 after purchasing an additional 51,640 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Cohu by 25.9% during the third quarter. Franklin Resources Inc. now owns 3,145,692 shares of the semiconductor company’s stock valued at $82,134,000 after buying an additional 647,828 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Cohu by 11.6% during the third quarter. Thrivent Financial for Lutherans now owns 1,462,410 shares of the semiconductor company’s stock valued at $37,584,000 after buying an additional 152,574 shares during the period. Finally, Royce & Associates LP boosted its position in Cohu by 21.4% during the 3rd 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 in the last quarter. 94.67% of the stock is owned by hedge funds and other institutional investors.

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.