Christopher Bohrson, the Senior Vice President and Chief Customer Officer of Cohu Inc. (NASDAQ:COHU), recently sold 200 shares of the company's common stock. The semiconductor equipment manufacturer, currently trading at $27.05, maintains a strong balance sheet with more cash than debt and a healthy current ratio of 6.38x. The shares were sold at a price of $27.68 each, totaling $5,536. Following this transaction, Bohrson retains direct ownership of 129,339 shares, which includes 74,746 restricted stock units (RSUs) set to convert to common stock in the future upon meeting certain conditions. According to InvestingPro analysis, while management has been actively buying back shares, five analysts have recently revised their earnings expectations downward. The transaction was conducted under a pre-established 10b5-1 trading plan, adopted on May 17, 2024. Based on InvestingPro's Fair Value analysis, the stock currently appears to be trading above its intrinsic value. Discover more insights and 8 additional ProTips in the comprehensive Pro Research Report available for COHU.
In other recent news, semiconductor test equipment supplier Cohu reported a resilient financial performance for its third quarter of 2024, with revenues reaching $95.3 million and a gross margin of 47%. A noteworthy 67% of the total revenue was recurring, demonstrating stability despite market challenges. The company has made strategic advancements into high growth areas such as high bandwidth memory and silicon carbide markets. TD Cowen recently adjusted its price target for Cohu, reducing it to $30.00 from $36.00, while maintaining a Buy rating on the stock. This adjustment followed a review of Cohu's recent financial performance and market conditions. Despite test utilization presenting a near-term challenge, Cohu's ability to secure new design wins was highlighted as a positive sign for potential growth opportunities. Looking ahead, Cohu anticipates a 10% revenue increase for Q1 2025, further indicating its resilience in the face of market headwinds. These recent developments underscore the company's strategic positioning and potential for growth.
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