Cohu Inc. (NASDAQ:COHU) director Steven J. Bilodeau has sold a total of $232,032 worth of company stock, according to a recent SEC filing. The transactions took place over two consecutive days, with shares being sold at prices ranging from $29.05 to $29.24.
The filing detailed that on May 9, 2024, Bilodeau sold 6,854 shares at an average price of $29.05. The following day, he sold an additional 1,126 shares at an average price of $29.24. The shares were sold in multiple trades with prices for the May 9 transactions varying from $28.84 to $29.19, and for the May 10 transactions ranging from $28.90 to $29.51.
After the sales, Bilodeau's holdings in Cohu Inc. decreased but still amounted to a substantial 57,055 shares, which includes 28,480 Deferred Stock Units (DSUs). These units are equivalent to one share of Cohu common stock each and will be converted into common stock upon Bilodeau's termination of service as a director or at specified future dates.
The sale was executed in a series of transactions, as per the footnotes in the SEC filing, and Bilodeau has committed to providing full information regarding the number of shares sold at each separate price upon request.
Investors often monitor insider transactions such as these for insights into executive confidence in the company's future performance. Shares of Cohu, a leader in instruments for measurement and testing of electricity and electronic signals, continue to be traded on the NASDAQ stock exchange.
InvestingPro Insights
In light of the recent insider transactions at Cohu Inc. (NASDAQ:COHU), where director Steven J. Bilodeau sold a notable amount of stock, current and potential investors might find the following data and tips from InvestingPro valuable for their investment decisions.
InvestingPro data shows that Cohu has a market capitalization of approximately $1.39 billion, and is trading at a price-to-book ratio of 1.53 as of the last twelve months leading up to Q1 2024. Despite challenges, the company holds a gross profit margin of 47.09%, demonstrating its ability to maintain profitability on its products and services. However, it's also notable that revenue has seen a significant decline of nearly 29% over the same period.
Two InvestingPro Tips that stand out in the context of the article are:
- Cohu holds more cash than debt on its balance sheet, which could be a sign of financial stability and may reassure investors in the face of the director's stock sale.
- The company is trading near its 52-week low, which could indicate a potential buying opportunity for investors who believe in the company's long-term prospects despite the recent insider selling.
These insights can be further expanded upon with the multitude of additional tips available on InvestingPro. For those interested in a deeper dive into Cohu's financials and future outlook, there are more InvestingPro Tips to explore. As of now, there are 10 additional tips listed on InvestingPro for Cohu, which can provide a comprehensive view of the company's performance and potential investment risks or opportunities.
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