JPMorgan Chase & Co. reduced its stake in shares of Cohu Inc. (NASDAQ:COHU) by 14.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,516,870 shares of the company’s stock after selling 253,955 shares during the period. JPMorgan Chase & Co. owned approximately 5.69% of Cohu worth $16,458,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Cohu by 0.7% in the first quarter. Geode Capital Management LLC now owns 176,336 shares of the company’s stock worth $2,094,000 after buying an additional 1,231 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in Cohu during the first quarter worth about $181,000. Value Holdings LP increased its stake in Cohu by 17.1% in the first quarter. Value Holdings LP now owns 27,406 shares of the company’s stock worth $326,000 after buying an additional 4,000 shares during the period. Royce & Associates LP increased its stake in Cohu by 1.3% in the first quarter. Royce & Associates LP now owns 966,593 shares of the company’s stock worth $11,483,000 after buying an additional 12,780 shares during the period. Finally, Stratos Wealth Partners LTD. purchased a new stake in Cohu during the first quarter worth about $529,000. Hedge funds and other institutional investors own 86.59% of the company’s stock.
Shares of Cohu Inc. (NASDAQ:COHU) traded down 0.94% during midday trading on Thursday, hitting $11.55. The stock had a trading volume of 26,328 shares. The firm has a 50-day moving average price of $11.01 and a 200-day moving average price of $11.31. Cohu Inc. has a 1-year low of $9.38 and a 1-year high of $13.43. The firm has a market cap of $308.12 million, a price-to-earnings ratio of 80.77 and a beta of 0.95.
Cohu (NASDAQ:COHU) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The business earned $76.40 million during the quarter, compared to analyst estimates of $73.93 million. Cohu had a return on equity of 3.23% and a net margin of 1.38%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. On average, equities analysts anticipate that Cohu Inc. will post $0.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, August 26th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.06%. Cohu’s payout ratio is currently 171.43%.
A number of equities research analysts have issued reports on the company. TheStreet downgraded Cohu from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Zacks Investment Research raised Cohu from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, B. Riley reissued a “buy” rating and set a $14.00 price target on shares of Cohu in a research report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.00.
Cohu, Inc is a supplier of semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors and thermal sub-systems used by global semiconductor manufacturers and test subcontractors. The Company develops, manufactures, sells and services a line of equipment capable of handling a range of integrated circuits and light-emitting diodes (LEDs).
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