Cohu, Inc. (NASDAQ:COHU) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Cohu, Inc. (NASDAQ:COHU) by 4.8% during the third quarter, Holdings Channel reports. The firm owned 221,111 shares of the semiconductor company’s stock after selling 11,075 shares during the period. Principal Financial Group Inc.’s holdings in Cohu were worth $5,683,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in COHU. Signaturefd LLC raised its position in shares of Cohu by 1,256.3% in the 2nd quarter. Signaturefd LLC now owns 868 shares of the semiconductor company’s stock worth $29,000 after buying an additional 804 shares during the period. First Horizon Advisors Inc. increased 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 acquiring an additional 535 shares during the last quarter. US Bancorp DE raised its holdings in shares of Cohu by 59.7% in the 3rd 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 lifted its stake in shares of Cohu by 34.3% in the 3rd quarter. GSA Capital Partners LLP now owns 9,922 shares of the semiconductor company’s stock valued at $255,000 after purchasing an additional 2,532 shares in the last quarter. Finally, Meros Investment Management LP purchased a new stake in shares of Cohu during the 3rd quarter worth about $257,000. 94.67% of the stock is owned by hedge funds and other institutional investors.

Cohu Stock Performance

Cohu stock opened at $26.70 on Thursday. Cohu, Inc. has a 12-month low of $22.80 and a 12-month high of $36.60. 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 $1.24 billion, a price-to-earnings ratio of -24.72 and a beta of 1.51. The firm’s fifty day moving average price is $26.59 and its 200 day moving average price is $27.47.

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 return on equity of 1.01% and a negative net margin of 11.35%. The business had revenue of $95.30 million during the quarter, compared to analyst estimates of $95.75 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue was down 36.8% compared to the same quarter last year. On average, research analysts forecast that Cohu, Inc. will post -0.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Needham & Company LLC lifted their price target on shares of Cohu from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Cowen reduced their target price on shares of Cohu from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group lowered their price target on Cohu from $26.00 to $23.00 and set a “sell” 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 on the stock in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.50.

Insider Activity

In other news, Director Nina Richardson sold 4,999 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $24.14, for a total value of $120,675.86. Following the sale, the director now owns 28,313 shares in the company, valued at approximately $683,475.82. This represents a 15.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 5,599 shares of company stock worth $136,724. 2.70% of the stock is currently owned by insiders.

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.