On September 14, 2023, it was reported that Brandywine Global Investment Management LLC had increased its holdings in Cohu, Inc. (NASDAQ: COHU) by 1.2% during the first quarter. According to their filing with the Securities and Exchange Commission (SEC), the investment management firm now owns 277,957 shares of Cohu’s stock after purchasing an additional 3,355 shares in that period. This equates to about 0.59% of Cohu’s total worth, which amounts to $10,671,000 at the end of the most recent quarter.
Cohu recently announced its quarterly earnings results on August 3rd. The semiconductor company reported earnings per share (EPS) of $0.40 for the quarter, surpassing the consensus estimate of $0.37 by $0.03. Additionally, Cohu recorded revenue of $168.92 million for the quarter, exceeding analyst estimates of $165.95 million. Furthermore, Cohu achieved a net margin of 9.75% and a return on equity of 11.46%. Equities analysts predict that Cohu will post earnings per share of 1.47 for the current year.
Various research firms have commented on COHU at different times as well. StockNews.com upgraded Cohu from a “hold” rating to a “buy” rating on August 31st while B. Riley reevaluated its stance from a “neutral” rating to a “buy” rating on July 17th and increased their price target for the stock from $38.00 to $50.00. Meanwhile, Needham & Company LLC reiterated a “buy” rating and set a price target of $52 on August 4th for Cohu’s shares. In addition to these ratings changes from different firms throughout recent months, Stifel Nicolaus raised their target price for Cohu from $42.00 to $48.00 and provided a “buy” rating on August 2nd. It’s worth noting that one analyst has issued a sell rating, another issued a hold rating, and seven have given the stock a buy rating. According to data from Bloomberg, the company currently holds a consensus rating of “Moderate Buy” with an average price target of $43.38.
In conclusion, Brandywine Global Investment Management LLC has increased its holdings in Cohu, Inc., a semiconductor company listed on NASDAQ. With positive quarterly earnings results and favorable ratings from various research firms, Cohu seems to be generating interest among investors.
Recent Changes in Ownership and Positive Outlook Signal Growth for Semiconductor Company Cohu
Cohu, Inc., a semiconductor company, has seen some significant changes in its ownership recently. Various large investors have made modifications to their holdings of the company’s stock. Barrow Hanley Mewhinney & Strauss LLC, for instance, raised its holdings in Cohu by 2.2% during the 1st quarter. As a result, the firm now owns 1,357,102 shares of Cohu’s stock with an estimated value of $52,099,000 after purchasing an additional 29,833 shares during this period. Sterling Investment Counsel LLC also entered the picture by acquiring a new stake in Cohu valued at approximately $207,000 during the same quarter.
Another investor that boosted its position in the company is Natixis Advisors L.P., whose holdings now amount to 14,887 shares valued at $572,000 after purchasing an additional 3,073 shares in the first quarter—a remarkable increase of 26%. Meanwhile, SummerHaven Investment Management LLC increased its holdings by 1.5%, owning 29,780 shares valued at $1,143,000 after buying an additional 453 shares in the same period.
PAX Financial Group LLC was another participant in this investment activity and bought a new stake in Cohu during the fourth quarter worth about $300,000. With these recent developments taken into account, it is notable that approximately 88.23% of Cohu’s stock is currently owned by institutional investors and hedge funds.
In other news regarding Cohu’s internal operations, Vice President Ian P. Lawee conducted a transaction on Thursday, August 31st that involved selling 2,000 shares of the company’s stock. The average price per share was recorded at $37.55 resulting in a total value of $75,100 for this particular sale. Following this transaction event,the VP now possesses approximately 53,139 shares of the company’s stock, equating to a value of approximately $1,995,369.45. This transaction was disclosed in a filing with the SEC and additional information can be found through the provided link. It is also worth mentioning that corporate insiders hold 2.79% of Cohu’s stock.
As for Cohu’s market performance, on Thursday it opened at $34.66. The company has a quick ratio of 3.96 and a current ratio of 5.22 revealing its strong liquidity position. Additionally, its debt-to-equity ratio stands at an impressively low 0.04, indicating a conservative capital structure by the company’s management.
Cohu holds a market cap of $1.65 billion with a price-to-earnings ratio of 22.95 and a beta of 1.58 exemplifying its relatively stable and slightly volatile nature within the market environment compared to similar companies in the industry.The stock has experienced a yearly trading range from $25.20 to $43.99 reflecting some fluctuations but managing to remain within acceptable levels for investors.
Overall, Cohu’s recent changes in ownership by large investors signify growing interest and confidence in the company as it continues to excel in the semiconductor industry amidst evolving market conditions.The efforts taken by institutional investors and hedge funds indicate their belief in Cohu’s potential for future growth and profitability.This positive sentiment surrounding Cohu is supported by its stable financial metrics such as strong liquidity ratios and conservative capital structure.Furthermore, with insiders holding shares in the company, it suggests that individuals with intimate knowledge of Cohu have faith in its trajectory.The roadmap ahead appears promising for Cohu as it continues its pursuit towards success within an ever-changing industry landscape.