Envestnet Asset Management Inc. Raises Stock Position in Cohu, Inc. (NASDAQ:COHU)

Envestnet Asset Management Inc. lifted its stake in shares of Cohu, Inc. (NASDAQ:COHU) by 30.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 109,509 shares of the semiconductor company’s stock after acquiring an additional 25,738 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Cohu were worth $1,611,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of COHU. Lightrock Netherlands B.V. raised its position in Cohu by 36.3% in the 1st quarter. Lightrock Netherlands B.V. now owns 407,228 shares of the semiconductor company’s stock valued at $6,000,000 after purchasing an additional 108,471 shares during the last quarter. Leeward Investments LLC MA raised its position in Cohu by 60.9% in the 1st quarter. Leeward Investments LLC MA now owns 426,531 shares of the semiconductor company’s stock valued at $6,274,000 after purchasing an additional 161,518 shares during the last quarter. Principal Financial Group Inc. raised its position in Cohu by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 232,111 shares of the semiconductor company’s stock valued at $3,414,000 after purchasing an additional 6,080 shares during the last quarter. Azarias Capital Management L.P. purchased a new stake in Cohu in the 1st quarter valued at $1,021,000. Finally, Janney Montgomery Scott LLC raised its position in Cohu by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,642 shares of the semiconductor company’s stock valued at $377,000 after purchasing an additional 1,454 shares during the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

Cohu Stock Down 1.5%

Shares of Cohu stock opened at $18.98 on Thursday. The company has a market cap of $882.57 million, a P/E ratio of -10.26 and a beta of 1.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.69 and a current ratio of 5.20. Cohu, Inc. has a one year low of $12.57 and a one year high of $32.69. The firm has a fifty day moving average of $18.98 and a two-hundred day moving average of $18.58.

Cohu (NASDAQ:COHU) last announced its quarterly earnings data on Thursday, May 1st. The semiconductor company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.14. The company had revenue of $96.80 million during the quarter, compared to the consensus estimate of $96.61 million. Cohu had a negative net margin of 21.99% and a negative return on equity of 3.76%. Cohu’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 EPS. On average, analysts forecast that Cohu, Inc. will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

COHU has been the subject of several research reports. TD Cowen reduced their price target on shares of Cohu from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Wall Street Zen downgraded shares of Cohu from a “hold” rating to a “sell” rating in a research report on Tuesday, May 13th. Stifel Nicolaus cut their price objective on shares of Cohu from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Cohu in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.17.

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.