B.Riley FBR analyst Craig Ellis maintained a Buy rating on Cohu (COHU) today and set a price target of $24. The company’s shares closed yesterday at $15.47, close to its 52-week low of $14.08.
Ellis noted:
“Monday (5/6) AMC, back-end handler, tester, and contactor specialist COHU’s 1Q sales beat Street estimates by $2.8M/1.9% and 2Q19’s sales guide was $3.0M/2.0% above, showing good company execution at the trough. Shares rose +3.7% AMC. Further out, we are encouraged by mgmt’s 2H visibility (seasonal Mobile capacity ramp, 5G comm infrastructure, and strong recurring business). In conjunction with good revenue outperformance, operating metrics are steadily improving aided by well-executed synergies and with an incremental $20.0M pulled into CY19, 3 years ahead of schedule, sowing seeds for enhanced up-cycle leverage. So, with the trough cycle behind, we see potential for dramatic EPS expansions aided by specific top-line catalysts and continued self-help action.”
According to TipRanks.com, Ellis is a top 100 analyst with an average return of 17.8% and a 65.8% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Rudolph Technologies, Skyworks Solutions, and Brooks Automation.
Currently, the analyst consensus on Cohu is a Strong Buy with an average price target of $23.67, representing a 53.0% upside. In a report released today, Stifel Nicolaus also upgraded the stock to Buy with a $22 price target.
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The company has a one-year high of $27.83 and a one-year low of $14.08. Currently, Cohu has an average volume of 308.2K.
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Cohu, Inc. engages in the provision of back-end semiconductor equipment and services. It operates through the Semiconductor Test and Inspection, and Printed Circuit Board Test. The company was founded in 1947 and is headquartered in Poway, CA.
