Penbrook Management LLC Sells 4,250 Shares of Cohu, Inc. (NASDAQ:COHU)

Penbrook Management LLC decreased its stake in shares of Cohu, Inc. (NASDAQ:COHU) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,595 shares of the semiconductor company’s stock after selling 4,250 shares during the period. Cohu makes up about 1.3% of Penbrook Management LLC’s investment portfolio, making the stock its 15th largest holding. Penbrook Management LLC’s holdings in Cohu were worth $2,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Deutsche Bank AG grew its position in Cohu by 12.6% in the third quarter. Deutsche Bank AG now owns 23,694 shares of the semiconductor company’s stock valued at $816,000 after purchasing an additional 2,659 shares in the last quarter. Northern Trust Corp grew its position in Cohu by 14.4% in the third quarter. Northern Trust Corp now owns 684,736 shares of the semiconductor company’s stock valued at $23,582,000 after purchasing an additional 86,030 shares in the last quarter. Trexquant Investment LP bought a new position in Cohu in the third quarter valued at $981,000. Qube Research & Technologies Ltd grew its position in Cohu by 29.7% in the third quarter. Qube Research & Technologies Ltd now owns 103,524 shares of the semiconductor company’s stock valued at $3,565,000 after purchasing an additional 23,679 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new stake in Cohu in the third quarter valued at $212,000. Institutional investors own 94.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on COHU. TD Cowen cut their price target on shares of Cohu from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Citigroup cut their price target on shares of Cohu from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, May 6th. B. Riley cut their price target on shares of Cohu from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Needham & Company LLC cut their price target on shares of Cohu from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Finally, Craig Hallum cut their price target on shares of Cohu from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

Cohu Stock Performance

Shares of NASDAQ COHU traded up $1.04 during mid-day trading on Tuesday, reaching $33.43. 260,674 shares of the company were exchanged, compared to its average volume of 292,900. Cohu, Inc. has a twelve month low of $28.57 and a twelve month high of $43.99. The company has a quick ratio of 4.63, a current ratio of 6.29 and a debt-to-equity ratio of 0.01. The company’s 50-day simple moving average is $31.03 and its 200-day simple moving average is $32.11. The stock has a market capitalization of $1.57 billion, a P/E ratio of -658.00 and a beta of 1.58.

Cohu (NASDAQ:COHU) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cohu had a negative net margin of 0.38% and a positive return on equity of 3.91%. The business had revenue of $107.61 million during the quarter, compared to analysts’ expectations of $107.00 million. As a group, research analysts predict that Cohu, Inc. will post -0.07 earnings per share for the current year.

Insiders Place Their Bets

In other Cohu news, SVP Christopher Bohrson sold 2,000 shares of Cohu stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $30.00, for a total value of $60,000.00. Following the completion of the sale, the senior vice president now owns 130,339 shares in the company, valued at approximately $3,910,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cohu news, Director William Bendush sold 2,591 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $29.83, for a total value of $77,289.53. Following the transaction, the director now directly owns 36,662 shares of the company’s stock, valued at approximately $1,093,627.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Christopher Bohrson sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 130,339 shares in the company, valued at $3,910,170. The disclosure for this sale can be found here. Insiders sold 10,091 shares of company stock worth $298,755 in the last quarter. 2.70% of the stock is currently owned by corporate insiders.

Cohu 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.