Needham & Company LLC Lowers Cohu (NASDAQ:COHU) Price Target to $34.00

Cohu (NASDAQ:COHU) had its price target cut by investment analysts at Needham & Company LLC from $36.00 to $34.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price indicates a potential upside of 14.63% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Craig Hallum reduced their price objective on shares of Cohu from $35.00 to $30.00 and set a “hold” rating for the company in a report on Friday, May 3rd. B. Riley decreased their price objective on shares of Cohu from $45.00 to $40.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Finally, TD Cowen cut their target price on Cohu from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

Cohu Price Performance

Shares of NASDAQ:COHU opened at $29.66 on Monday. The firm’s 50 day moving average is $31.24 and its two-hundred day moving average is $32.33. The firm has a market capitalization of $1.40 billion, a P/E ratio of -593.20 and a beta of 1.54. The company has a current ratio of 6.29, a quick ratio of 4.63 and a debt-to-equity ratio of 0.01. Cohu has a 52 week low of $28.57 and a 52 week high of $43.99.

Cohu (NASDAQ:COHU) last posted its earnings results on Thursday, February 15th. The semiconductor company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. Cohu had a positive return on equity of 3.91% and a negative net margin of 0.38%. The firm had revenue of $137.23 million for the quarter, compared to analysts’ expectations of $136.94 million. During the same period last year, the firm earned $0.63 EPS. The firm’s revenue was down 28.2% compared to the same quarter last year. Analysts anticipate that Cohu will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COHU. Vanguard Group Inc. raised its position in shares of Cohu by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,165,622 shares of the semiconductor company’s stock worth $147,421,000 after purchasing an additional 59,716 shares during the period. Dimensional Fund Advisors LP lifted its stake in Cohu by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,064,004 shares of the semiconductor company’s stock valued at $108,438,000 after buying an additional 60,964 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Cohu by 3.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,977,319 shares of the semiconductor company’s stock worth $105,367,000 after buying an additional 100,388 shares during the period. Franklin Resources Inc. increased its position in shares of Cohu by 8.4% in the fourth quarter. Franklin Resources Inc. now owns 2,782,650 shares of the semiconductor company’s stock worth $98,478,000 after acquiring an additional 215,153 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Cohu by 22.9% during the third quarter. American Century Companies Inc. now owns 974,605 shares of the semiconductor company’s stock valued at $33,565,000 after acquiring an additional 181,689 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.