Short Interest in Cohu, Inc. (NASDAQ:COHU) Grows By 12.2%

Cohu, Inc. (NASDAQ:COHU) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 952,600 shares, an increase of 12.2% from the August 15th total of 849,300 shares. Based on an average daily volume of 363,200 shares, the days-to-cover ratio is presently 2.6 days. Approximately 2.1% of the company’s stock are sold short.

Cohu Stock Up 0.9 %

COHU opened at $24.95 on Wednesday. The stock’s fifty day simple moving average is $28.07 and its 200 day simple moving average is $30.21. Cohu has a 1-year low of $22.80 and a 1-year high of $36.60. The stock has a market cap of $1.18 billion, a PE ratio of -499.00 and a beta of 1.53. The company has a current ratio of 6.95, a quick ratio of 5.09 and a debt-to-equity ratio of 0.01.

Cohu (NASDAQ:COHU) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $104.70 million during the quarter, compared to the consensus estimate of $105.00 million. Cohu had a negative net margin of 5.70% and a positive return on equity of 1.27%. As a group, research analysts expect that Cohu will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

COHU has been the topic of a number of analyst reports. Citigroup cut Cohu from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research note on Monday, July 15th. StockNews.com lowered shares of Cohu from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC decreased their price objective on shares of Cohu from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.00.

Institutional Investors Weigh In On Cohu

Hedge funds have recently bought and sold shares of the stock. Tributary Capital Management LLC acquired a new stake in Cohu during the 2nd quarter worth approximately $11,781,000. Bank of New York Mellon Corp boosted its holdings in Cohu by 54.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 905,309 shares of the semiconductor company’s stock valued at $29,966,000 after purchasing an additional 320,234 shares during the period. Franklin Resources Inc. boosted its stake 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 valued at $98,478,000 after buying an additional 215,153 shares during the period. Vanguard Group Inc. lifted its position in shares of Cohu by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 4,303,097 shares of the semiconductor company’s stock valued at $143,422,000 after acquiring an additional 137,475 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Cohu by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,064,004 shares of the semiconductor company’s stock worth $108,438,000 after purchasing an additional 60,964 shares in the last quarter. 94.67% of the stock is currently 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.