B.Riley FBR analyst Craig Ellis maintained a Buy rating on Cohu (NASDAQ: COHU) today and set a price target of $32. The company’s shares opened today at $23.16.
Ellis wrote:
“Following 9/5’s 8-K disclosure, which signaled a pre-10/15 XCRA deal close, we caught up with COHU on near-term milestones, longer-term revenue growth dynamics, and other issues. We had three key takeaways: $350.0M debt raise and early-October deal close, an investor CC should clarify 4Q18 expectations. Second, an array of growth prospects remains appealing, and we are most excited about high-margin contactor share gain toward handler share, a 2.5x move. Lastly, two recent Semi deals suffered meaningful acquired-company sales disappointments, though numerous reasons suggest XCRA will avoid such traps. Shares are recently pressured by market and sector volatility and are now 15% below 1H18 highs.”
According to TipRanks.com, Ellis is a top 25 analyst with an average return of 31.1% and a 70.7% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Axcelis Technologies, and Silicon Laboratories.
Currently, the analyst consensus on Cohu is a Moderate Buy with an average price target of $32.
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Based on Cohu’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $11.65 million. In comparison, last year the company had a net profit of $10.71 million.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock.
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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.