Short Interest in Cohu, Inc. (NASDAQ:COHU) Declines By 12.5%

Cohu, Inc. (NASDAQ:COHU) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 944,600 shares, a decline of 12.5% from the July 15th total of 1,080,000 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average daily volume of 349,400 shares, the days-to-cover ratio is currently 2.7 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. B. Riley lowered their price objective on shares of Cohu from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Needham & Company LLC reduced their target price on Cohu from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Craig Hallum decreased their target price on shares of Cohu from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. TD Cowen decreased their price objective on Cohu from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Finally, StockNews.com cut Cohu from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.00.

Cohu Price Performance

Shares of NASDAQ COHU traded up $0.53 during mid-day trading on Monday, hitting $26.44. 276,271 shares of the stock were exchanged, compared to its average volume of 314,294. Cohu has a twelve month low of $23.93 and a twelve month high of $37.95. The stock’s fifty day simple moving average is $30.86 and its two-hundred day simple moving average is $31.21. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.63 and a current ratio of 6.95. The company has a market cap of $1.25 billion, a P/E ratio of -528.80 and a beta of 1.58.

Insider Buying and Selling

In other Cohu news, SVP Christopher Bohrson sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $30.00, for a total transaction of $60,000.00. Following the transaction, the senior vice president now owns 130,339 shares in the company, valued at $3,910,170. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Cohu

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Cohu by 3.3% during the first quarter. Vanguard Group Inc. now owns 4,303,097 shares of the semiconductor company’s stock worth $143,422,000 after purchasing an additional 137,475 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cohu by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,161,347 shares of the semiconductor company’s stock worth $104,638,000 after acquiring an additional 51,640 shares during the last quarter. Victory Capital Management Inc. increased its position in Cohu by 3.5% in the 4th quarter. Victory Capital Management Inc. now owns 2,977,319 shares of the semiconductor company’s stock valued at $105,367,000 after acquiring an additional 100,388 shares in the last quarter. Franklin Resources Inc. raised 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 worth $98,478,000 after acquiring an additional 215,153 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Cohu by 54.7% during the second quarter. Bank of New York Mellon Corp now owns 905,309 shares of the semiconductor company’s stock worth $29,966,000 after purchasing an additional 320,234 shares in the last quarter. 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.