B.Riley FBR analyst Craig Ellis reiterated a Buy rating on Cohu (COHU) today and set a price target of $26. The company’s shares opened today at $17.94.
Ellis said:
“COHU reports 4Q18 results a CC at 4:30pm ET (originally scheduled for 2/28 but delayed due to Xcerra purchase accounting complexities). We expect in-line to slightly better results, but cut C1Q’s forecast for known China, smartphone, and industrial headwinds to $172.1M (-1.9%)/$0.20, below the Street’s $177.1M (+2.1%)/$0.40). Beyond 1Q19, we expect a gradual recovery beginning in C2Q19 consistent with MCU bellwether MCHP’s thesis an Analog sector inventory correction is abating, and within sub-seasonal 2Q growth modeling (+7.5% vs +12.2% norms) note relatively high recurring revenues mix (40%) and a comparatively stable longer-term profile to peers.”
According to TipRanks.com, Ellis is a top 100 analyst with an average return of 17.2% and a 63.2% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Rudolph Technologies, and Silicon Laboratories.
The word on The Street in general, suggests a Hold analyst consensus rating for Cohu with a $20 average price target.
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Cohu’s market cap is currently $519.4M and has a P/E ratio of 16.88. The company has a Price to Book ratio of 1.68.
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Cohu, Inc. engages in the manufacture and marketing of semiconductor test and inspection handlers. Its products include pick-and-place and thermal subsystems, gravitity, test-in-strip and mems, turret and vision solutions, and contractors. The company was founded in 1972 and is headquartered in Poway, CA.
