Cohu (NASDAQ:COHU) Shares Gap Down – What’s Next?

Cohu, Inc. (NASDAQ:COHU)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $25.39, but opened at $23.84. Cohu shares last traded at $24.22, with a volume of 41,108 shares traded.

Analysts Set New Price Targets

Several research firms have commented on COHU. The Goldman Sachs Group dropped their price target on shares of Cohu from $26.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Craig Hallum raised Cohu from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Friday, November 1st. Needham & Company LLC lowered Cohu from a “buy” rating to a “hold” rating in a research note on Monday. Finally, TD Cowen lowered their price target on 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, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.50.

Cohu Stock Performance

The stock has a fifty day moving average price of $26.61 and a 200 day moving average price of $27.12. 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 firm has a market cap of $1.12 billion, a price-to-earnings ratio of -22.22 and a beta of 1.47.

Cohu (NASDAQ:COHU) last announced 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 analyst estimates of $95.75 million. During the same quarter last year, the business earned $0.27 EPS. The company’s revenue for the quarter was down 36.8% on a year-over-year basis. As a group, analysts predict that Cohu, Inc. will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in shares of Cohu by 49.2% in the third quarter. First Horizon Advisors Inc. now owns 1,622 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 535 shares during the last quarter. US Bancorp DE boosted its stake in Cohu by 59.7% during the 3rd quarter. US Bancorp DE now owns 8,823 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 3,297 shares during the period. GSA Capital Partners LLP grew its holdings in 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 buying an additional 2,532 shares during the last quarter. Meros Investment Management LP acquired a new stake in Cohu in the 3rd quarter valued at approximately $257,000. Finally, Mackenzie Financial Corp increased its position in Cohu by 5.6% in the 2nd quarter. Mackenzie Financial Corp now owns 7,939 shares of the semiconductor company’s stock worth $263,000 after buying an additional 419 shares during the period. Institutional investors own 94.67% of the company’s stock.

Cohu Company 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.