Needham & Company Reiterates a 'Hold' on Cohu (COHU) After Meeting with Management
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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, Jr., said, "Management continues to emphasize its dominant market position at 32% of all IC test handlers and also indicated that the 2H 2012 outlook remains mixed. On the product front the Pyramid handler shipments with Intel remain consistent with prior expectations, and mgmt is excited about its new Saturn gravity handler offering. Discussion regarding the noncore businesses (cameras and microwave comms) was focused on how they are candidates for opportunistic divestment; this has been discussed in the past, to be sure, but there seems to be a drive towards focusing on the core handler biz and possibly augmenting the product line-up through potential acquisition. With almost 50% of its value in cash ($4.28/share) COHU is also exploring the possibility of its first-ever stock buyback. We would like to see improved financials (revenue & GM) or one of the above catalysts) occur before we can get constructive near-term on COHU shares."
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 $9.19 yesterday.
Analyst, Vernon Essi, Jr., said, "Management continues to emphasize its dominant market position at 32% of all IC test handlers and also indicated that the 2H 2012 outlook remains mixed. On the product front the Pyramid handler shipments with Intel remain consistent with prior expectations, and mgmt is excited about its new Saturn gravity handler offering. Discussion regarding the noncore businesses (cameras and microwave comms) was focused on how they are candidates for opportunistic divestment; this has been discussed in the past, to be sure, but there seems to be a drive towards focusing on the core handler biz and possibly augmenting the product line-up through potential acquisition. With almost 50% of its value in cash ($4.28/share) COHU is also exploring the possibility of its first-ever stock buyback. We would like to see improved financials (revenue & GM) or one of the above catalysts) occur before we can get constructive near-term on COHU shares."
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 $9.19 yesterday.
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