Big changes are happening at Cohu, Inc. (NASDAQ:COHU), which makes the stock worth watching today. The company is among the top gainers of the stock market today, skyrocketing 6.2% or (1.47 points) to $25.18 from its previous close of $23.71. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 125265 contracts so far this session. COHU shares had a relatively better volume day versus average trading capacity of 273.57 thousand shares, but with a 39.76 million float and a 1.32% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for COHU stock indicates that the average analyst price target is $24.25 per share. This means the stock has a potential decrease of -3.69% from where the COHU share price has been trading recently.
During the recent trading session for Cohu, Inc. (NASDAQ:COHU), the company witnessed their stock rise $1.7 over a week and surge $3.76 from the price 20 days ago. When compared to their established 52-week high of $25.38, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/16/20. The recent low of $11.37 stood for a 3.01% since 08/28/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.47 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Cohu, Inc., the two-week RSI stands at 77.43. This figure suggests that COHU stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current COHU readings is similarly very revealing as it has a stochastic reading of 86.8% at this stage. This figure means that COHU share price today is being oversold.
Technical chart claims that Cohu, Inc. (COHU) would settle between $24.11/share to $24.51/share level. However, if the stock price goes below the $23.36 mark, then the market for Cohu, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $23.01 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.64. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Deutsche Bank, assumed coverage of COHU assigning Buy rating, according to their opinion released on January 13. Craig Hallum, analysts launched coverage of Cohu, Inc. (NASDAQ:COHU) stock with a Buy recommendation, according to their flash note issued to investors on September 05. Analysts at Stifel released an upgrade from Hold to Buy for the stock, in a research note that dated back to May 07.
COHU equity has an average rating of 1.67, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Cohu, Inc. (NASDAQ:COHU) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, COHU stock price is currently trading at 23.15X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 31.8. Cohu, Inc. current P/B ratio of 2 means it is trading at a discount against its industry’s 7.4.
Cohu, Inc. (COHU)’s current-quarter revenues are projected to climb by nearly -18.5% to hit $139020, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 28.5% from $451770 to a noteworthy $580350. At the other end of the current quarter income statement, Cohu, Inc. is expected to see its adjusted earnings surge by roughly -87.5% to hit $0.03 per share. For the fiscal year, COHU’s earnings are projected to climb by roughly -90.6% to hit $0.14 per share.