POWAY, CA—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 shares were sold at a price of $28.23 each, resulting in a total transaction value of $5,646.
Following this sale, Bohrson's direct ownership stands at 129,539 shares, which includes 74,746 restricted stock units (RSUs) slated for future conversion, contingent on continued employment and meeting specified performance goals.
The transaction was executed under a pre-established 10b5-1 trading plan, which Bohrson adopted on May 17, 2024.
In other recent news, Cohu, a semiconductor test equipment supplier, has been the subject of a revised price target by TD Cowen. The firm trimmed the company's target by nearly 17% to $30.00, despite maintaining a Buy rating. This decision was influenced by Cohu's recent financial performance, which revealed improved margins and operational expenditures surpassing expectations. The company's sales results and guidance for the December 2024 quarter also met analyst expectations, indicating financial stability.
Cohu reported a steady financial performance for its third-quarter 2024 earnings, with revenues reaching $95.3 million and a gross margin of 47%. A significant 67% of the total revenue came from recurring sources. Furthermore, the company's mobile segment saw a 13% year-over-year growth, and a significant test cell design win was secured in the automotive sector.
Despite a non-GAAP EPS loss of $0.08 for Q3, Cohu's cash and investments rose to $269 million. Looking to the future, the company anticipates a 10% revenue increase for Q1 2025. These recent developments underscore Cohu's strategic advancements in the semiconductor sector and its resilience amid market challenges.
InvestingPro Insights
While Christopher Bohrson's recent stock sale provides insight into insider activity at Cohu Inc (NASDAQ:COHU), it's essential to consider broader financial metrics and market sentiment to gain a comprehensive view of the company's position.
According to InvestingPro data, Cohu's market capitalization stands at $1.26 billion, with the stock trading at a price-to-book ratio of 1.42 as of the last twelve months ending Q3 2024. This valuation metric suggests the market is pricing Cohu slightly above its book value, which could indicate investor confidence in the company's assets and future prospects.
However, the company faces some challenges. An InvestingPro Tip reveals that analysts anticipate a sales decline in the current year, with revenue growth showing a significant decrease of -35.54% over the last twelve months. This aligns with another InvestingPro Tip indicating that five analysts have revised their earnings downwards for the upcoming period, potentially signaling caution about Cohu's near-term financial performance.
On a positive note, Cohu's management has been actively engaging in share buybacks, as highlighted by another InvestingPro Tip. This strategy often signals management's confidence in the company's value and can potentially boost earnings per share for remaining shareholders.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Cohu, providing a deeper understanding of the company's financial health and market position. These insights can be particularly valuable given the stock's reported volatility and the current challenging business environment for Cohu.
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