Needham & Company Reiterates a 'Hold' on Cohu (COHU); Orders Remain Lackluster
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Price: $59.30 +1.65%
Rating Summary:
11 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Hold' on Cohu (NASDAQ: COHU).
Analyst, Vernon Essi, said, "...Semi equipment orders decreased 30% Q/Q and the semi equipment book-to-bill was 0.65. Macro concerns continued to weigh on COHU and handler order levels remained depressed in the quarter but some uptick of customer activity was seen (for consumer and automotive apps). In the interim however, low utilization and cautionary capital spending in the industry led to a weak Q1 guidance of $50M in revenue, down 24% Q/Q and about 25% below our original estimate. Without much visibility into orders COHU turns its focus on achieving qualifications and paring expenses. We adjusted our estimates downward on the updated commentary and guide; our 2012 revenue/EPS is lowered from $303M/$1.05 to $245M/$0.35 and we introduced our 2013 revenue/EPS of $312M/$1.25."
For an analyst ratings summary and ratings history on Cohu click here. For more ratings news on Cohu click here.
Shares of Cohu closed at $13.98 yesterday.
Analyst, Vernon Essi, said, "...Semi equipment orders decreased 30% Q/Q and the semi equipment book-to-bill was 0.65. Macro concerns continued to weigh on COHU and handler order levels remained depressed in the quarter but some uptick of customer activity was seen (for consumer and automotive apps). In the interim however, low utilization and cautionary capital spending in the industry led to a weak Q1 guidance of $50M in revenue, down 24% Q/Q and about 25% below our original estimate. Without much visibility into orders COHU turns its focus on achieving qualifications and paring expenses. We adjusted our estimates downward on the updated commentary and guide; our 2012 revenue/EPS is lowered from $303M/$1.05 to $245M/$0.35 and we introduced our 2013 revenue/EPS of $312M/$1.25."
For an analyst ratings summary and ratings history on Cohu click here. For more ratings news on Cohu click here.
Shares of Cohu closed at $13.98 yesterday.
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