Henry,
I have no inside line on what the real world is and how it impacts Cohu.I do think that the management is world class.
If it was me who wrote quarterly report after quarterly report ,with a very real sense of pride to the stock holders "the company has paid consecutive quarterly dividends since 1977".
Well I for one have been the proud recipient of those pennies per share since 1987. Cohu has had (2) 2 for 1 splits. That means that for every share I owned in 87 ,they are now paying .32 per share.
Back then you could buy Cohu all day long (almost all year long )for 6-8 bucks a share.These people paid a dividend 10 years before I bot the stock!
Today, some 12 years later it is rare for a small cap tech stock to pay anything at all!
With the proud heritage that this fine company has (going back to the founding years of 1921 ? when Lamont Cohu began building precision instruments for airplanes), my bet is that management is pulling out all the stops to NOT show a loss.This is a matter of pride and a reflection on their true greatness to manage, during times of zero visibility regarding earnings or future orders.
I don't for a minute expect earnings will be fudged.I just think that the pride factor is alive and well in Cohu.I suspect that equally dynamic companies like Novellus ,provide a benchmark example of remaining profitable on even declining sales.Cohu in my humble opinion strives to be like these great midcaps, and in their own way they meet and exceed these great mid-caps.
I for one will be an accumulator of more of their stock thru the good and the bad.I reserve the right to be a seller of their stock thru the good and bad also.
Make no mistake about it - when I sell Cohu stock, it will be on the firm belief that I will be able to buy back more at a lower price.
It is safe to say this stock owes me nothing, as their past performance has created substantial equity.I really don't like to admit it, but I like this company so much I wish I had enough money to buy it all.Not to be bragadochous ,but I have owned more shares of this company than most of their Directors over the last decade.I've also been in and out of it more than any director.The method of my madness has been to accumulate more at the low price swings.
I've been woefully wrong and gleefully right several times both long and short.
In summary, It is up on strong volume and we have a TIGER BY THE TAIL
If you are short get long - If you are long get more !
JMHO
Bob |
