Cohu (NASDAQ:COHU) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Cohu, Inc. (NASDAQ:COHU) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 Analyst Weigh In

A number of brokerages recently weighed in on COHU. The Goldman Sachs Group dropped their target price on shares of Cohu from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Needham & Company LLC boosted their target price on Cohu from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Craig Hallum upgraded shares of Cohu from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Friday, November 1st. Finally, TD Cowen reduced their price target 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. Two investment 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. According to MarketBeat, Cohu has a consensus rating of “Hold” and a consensus target price of $31.50.

Cohu Price Performance

The company has a market cap of $1.18 billion, a price-to-earnings ratio of -23.51 and a beta of 1.47. The company has a quick ratio of 4.69, a current ratio of 6.38 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $26.71 and its 200 day simple moving average is $27.28.

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

Institutional Investors Weigh In On Cohu

A number of large investors have recently added to or reduced their stakes in COHU. 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. Mackenzie Financial Corp lifted 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 valued at $263,000 after purchasing an additional 419 shares during the last quarter. Creative Planning acquired a new stake in Cohu in the second quarter worth about $282,000. US Bancorp DE grew its holdings in Cohu by 59.7% during the third quarter. US Bancorp DE now owns 8,823 shares of the semiconductor company’s stock worth $227,000 after acquiring an additional 3,297 shares during the period. Finally, GSA Capital Partners LLP raised its position in shares of Cohu by 34.3% during the third quarter. GSA Capital Partners LLP now owns 9,922 shares of the semiconductor company’s stock worth $255,000 after purchasing an additional 2,532 shares during the period. 94.67% of the stock is owned by institutional investors and hedge funds.

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.