Cohu, Inc. (COHU)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Cohu, Inc. (COHU) trades at $60.38 with AI Score 55/100 (Grade B). Cohu, Inc. provides semiconductor test and inspection equipment, essential for ensuring the quality and reliability of semiconductors used in various electronic devices. Market cap: $2.85B, Sector: Technology.
Price live · AI analysis from May 9, 2026COHU stock analysis for 2026: Analysts have set a consensus price target of $32.50 for Cohu, Inc., suggesting 46.2% downside from the current price of $60.38. The AI MoonshotScore is 55/100, indicating a neutral outlook. Key factors: analyst coverage, AI-driven quantitative scoring.
COHU: 1/4 perspectives are bearish. Dominant signal: Seth Klarman bearish.
How is this calculated? →Cohu, Inc. (COHU) Technology Profile & Competitive Position
Cohu, Inc. specializes in semiconductor test and inspection equipment, offering solutions like handlers, MEMS test modules, and thermal subsystems. Serving a global clientele, including semiconductor manufacturers and test subcontractors, Cohu ensures the quality and reliability of semiconductors, playing a crucial role in the technology supply chain.
What Is the Investment Thesis for COHU?
Cohu, Inc. presents a compelling investment case driven by its critical role in the semiconductor testing market. The increasing complexity and miniaturization of semiconductors, coupled with stringent reliability requirements, are key drivers for Cohu's growth. The company's comprehensive product portfolio and global presence position it well to capitalize on these trends. However, investors should be aware of the company's recent profit margin of -11.5%, indicating potential challenges in profitability. Key catalysts include expanding its DI-Core data analytics product and strategic partnerships to enhance market reach. The company's beta of 1.24 suggests higher volatility compared to the market, which should be considered alongside its growth potential.
Based on FMP financials and quantitative analysis
COHU Key Highlights
- Market Cap of $2.85B reflects Cohu's significant position in the semiconductor test equipment market.
- Gross Margin of 36.2% indicates the profitability of Cohu's core operations, though there is room for improvement compared to industry leaders.
- Profit Margin of -11.5% highlights current challenges in achieving overall profitability, requiring close monitoring of cost management and operational efficiency.
- Beta of 1.24 suggests higher volatility than the market average, indicating potential for both higher gains and losses.
- No Dividend Yield reflects a focus on reinvesting earnings for growth rather than returning capital to shareholders.
Who Are COHU's Competitors?
COHU is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| MXL MaxLinear, Inc. | $98.45 | +5.72% | $8.82B | 30 |
| UCTT Ultra Clean Holdings, Inc. | $106.15 | -0.31% | $4.76B | 36 |
| ARM Arm Holdings plc American Depositary Shares | $322.82 | +2.39% | $343.48B | 72 |
| MRVL Marvell Technology, Inc. | $252.03 | +2.75% | $220.47B | 69 |
| SLAB Silicon Laboratories Inc. | $218.46 | +0.11% | $7.21B | 69 |
| KLAC KLA Corporation | $234.66 | -0.38% | $306.53B | 68 |
| Q Qnity Electronics, Inc. | $146.64 | +3.45% | $30.70B | 55 |
| SFDMY Shanghai Fudan Microelectronics Group Company Limited | $43.16 | -13.25% | $1.19B | 55 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are COHU's Key Strengths?
- Comprehensive product portfolio in semiconductor testing.
- Global presence with operations in key regions.
- Established relationships with major semiconductor manufacturers.
- Expertise in developing specialized testing solutions.
What Are COHU's Weaknesses?
- Recent negative profit margin indicates profitability challenges.
- High beta suggests higher stock price volatility.
- Dependence on cyclical semiconductor industry trends.
- Potential impact from global supply chain disruptions.
What Could Drive COHU Stock Higher?
- Expansion of DI-Core data analytics product to optimize semiconductor equipment performance.
- Strategic partnerships and acquisitions to broaden product offerings and market reach.
- Increasing demand for semiconductor testing solutions in the automotive industry.
- Geographic expansion in the Asia-Pacific region to capitalize on growing semiconductor manufacturing hubs.
What Are the Key Risks for COHU?
- Negative return on equity (-7.0%) — the business is not currently generating profit on shareholder capital.
- Insider selling — insiders were net sellers of roughly $4.3M recently.
- Intense competition in the semiconductor testing equipment market.
- Technological obsolescence requiring continuous innovation and investment in R&D.
- Economic downturns impacting semiconductor demand and capital spending.
- Global supply chain disruptions affecting component availability and manufacturing costs.
- Negative profit margin indicates challenges in achieving overall profitability.
What Are the Growth Opportunities for COHU?
- Expansion of DI-Core Data Analytics: Cohu's DI-Core software suite offers a significant growth opportunity by providing real-time performance monitoring and process control for semiconductor equipment. As manufacturers increasingly rely on data-driven optimization, demand for DI-Core is expected to rise. The market for semiconductor manufacturing analytics is projected to reach $1 billion by 2028, offering substantial growth potential for Cohu. Timeline: Ongoing.
- Strategic Partnerships and Acquisitions: Cohu can pursue growth through strategic partnerships and acquisitions to expand its product portfolio and market reach. Collaborating with complementary technology providers or acquiring companies with innovative testing solutions can enhance Cohu's competitive position. The market for semiconductor testing solutions is highly fragmented, providing opportunities for consolidation. Timeline: Ongoing.
- Penetration of the Automotive Semiconductor Market: The automotive industry's increasing reliance on semiconductors for advanced driver-assistance systems (ADAS) and electric vehicles (EVs) presents a significant growth opportunity for Cohu. The demand for high-reliability testing solutions in the automotive sector is expected to surge. The automotive semiconductor market is projected to reach $60 billion by 2027. Timeline: Ongoing.
- Geographic Expansion in Asia-Pacific: Expanding its presence in the Asia-Pacific region, particularly in countries like China, Taiwan, and South Korea, can drive growth for Cohu. These countries are major hubs for semiconductor manufacturing and represent a significant market opportunity. Establishing local partnerships and service centers can enhance Cohu's competitiveness in the region. Timeline: Ongoing.
- Development of Advanced Testing Solutions for Next-Generation Semiconductors: Investing in the development of advanced testing solutions for next-generation semiconductors, such as 3D NAND and advanced packaging technologies, can position Cohu as a technology leader. These advanced technologies require sophisticated testing capabilities, creating a demand for innovative solutions. The market for advanced semiconductor testing is expected to grow rapidly in the coming years. Timeline: Ongoing.
What Opportunities Does COHU Have?
- Expansion of DI-Core data analytics product.
- Penetration of the automotive semiconductor market.
- Strategic partnerships and acquisitions.
- Development of advanced testing solutions for next-generation semiconductors.
What Threats Does COHU Face?
- Intense competition from established and emerging players.
- Technological obsolescence requiring continuous innovation.
- Economic downturns impacting semiconductor demand.
- Geopolitical risks affecting global supply chains.
What Are COHU's Competitive Advantages?
- Specialized Technology: Cohu's expertise in semiconductor testing equipment provides a competitive advantage.
- Established Customer Relationships: Long-standing relationships with major semiconductor manufacturers create a barrier to entry.
- Comprehensive Product Portfolio: A wide range of testing solutions caters to diverse customer needs.
- Global Presence: Operations in key semiconductor manufacturing regions enable efficient service and support.
What Does COHU Do?
Cohu, Inc., founded in 1947 and headquartered in Poway, California, has evolved from Cohu Electronics, Inc. to a key player in the semiconductor test equipment industry. The company provides a comprehensive suite of solutions, including semiconductor test and inspection handlers, micro-electromechanical system (MEMS) test modules, test contactors, thermal sub-systems, and semiconductor automated test equipment. These products are vital for semiconductor and electronics manufacturers, as well as test subcontractors, ensuring the quality and reliability of semiconductors used in a wide array of electronic devices. Cohu's geographic reach extends across China, the United States, Taiwan, Malaysia, and the Philippines, reflecting its global presence and commitment to serving the international semiconductor market. The company's product portfolio includes automated test equipment for both wafer-level and device package testing, various test handlers (pick-and-place, turret, gravity, strip, and MEMS), interface products like test contactors and probe heads/pins, and essential spares and kits. Additionally, Cohu offers services such as parts and labor warranties, training on system maintenance and operation, application support, data management software, and consulting. Its DI-Core software suite optimizes equipment performance through real-time monitoring and process control. Cohu markets its products through a direct sales force and independent sales representatives, ensuring broad market coverage and customer support.
What Products and Services Does COHU Offer?
- Provides semiconductor test and inspection handlers.
- Offers micro-electromechanical system (MEMS) test modules.
- Supplies test contactors and thermal sub-systems.
- Develops semiconductor automated test equipment for wafer level and device package testing.
- Offers data analytics products, including the DI-Core software suite.
- Provides spares, kits, and warranties for test and handling systems.
- Offers training on the maintenance and operation of its systems.
How Does COHU Make Money?
- Sells semiconductor test and inspection equipment to manufacturers and subcontractors.
- Provides maintenance, training, and support services for its equipment.
- Generates revenue from spares, kits, and warranties.
- Offers data analytics software subscriptions for equipment performance optimization.
What Industry Does COHU Operate In?
Cohu operates within the semiconductor industry, a sector characterized by rapid technological advancements and intense competition. The global semiconductor market is projected to reach hundreds of billions of dollars in the coming years, driven by demand for electronics in various applications, including automotive, consumer electronics, and industrial automation. Cohu's position in the test equipment segment is crucial, as testing ensures the quality and reliability of semiconductors. Competitors include MXL: MaxLinear, Inc. and UCTT: Ultra Clean Holdings, Inc., each vying for market share in this dynamic landscape.
Who Are COHU's Key Customers?
- Semiconductor manufacturers.
- Electronics manufacturers.
- Test subcontractors.
Cohu, Inc. Financial Trajectory
Cohu, Inc. (COHU) reported $125.1M in revenue for Q1 2026, reflecting 2.4% growth compared to the prior quarter. The company recorded a net loss of $12.1M, with diluted EPS of $-0.26. Quarter-over-quarter revenue has been mixed, typical for a mid-cap company operating in Technology. Across the four most recent quarters, COHU averaged $-0.30 in diluted EPS.
Company Profile
Cohu, Inc. operates in the Semiconductors industry within the Technology sector. It is headquartered in Poway, US. The company is led by CEO Luis Antonio Müller. COHU has traded publicly since 1980.
How Cohu, Inc. Is Valued
Cohu, Inc. carries a market capitalization of $2.85B, placing it in the mid-cap category. Relative to its peer group, COHU's quantitative score of 55/100 is roughly in line with the peer average of 55/100.
ROE -7%Key Financial Metrics
Return on equity for Cohu, Inc. stands at -7.0%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -2.8%, showing how much profit it generates from its asset base. COHU trades at a trailing price-to-earnings ratio of 43.06, above the Technology sector average of ~38x. Its free cash flow yield is 0.0%, a gauge of the cash the business throws off relative to its market value. A current ratio of 6.43 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 0.0%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 5/9Financial Health
Cohu, Inc.'s Piotroski F-Score is 5/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 4.68 places it in the safe zone, indicating low near-term bankruptcy risk.
FY2026 estForward Outlook
Wall Street analysts project Cohu, Inc. revenue of about $558.5M for fiscal 2026, with EPS near $0.58. The estimate reflects 5 contributing analysts.
Net sellingInsider Activity
Over the past six months, Cohu, Inc. insiders filed 30 SEC Form 4 transactions — 20 sales and 10 purchases. On net that is roughly 189K shares disposed (about $4.3M), a signal worth weighing alongside the fundamentals.
COHU Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Cohu's recent insider buying could signal strong confidence in the company's future prospects. It's like when insiders loaded up on Apple before a major product launch, suggesting they know something good is coming.
- Community sentiment seems to be leaning bullish, with many traders discussing potential growth catalysts for Cohu. This buzz reminds me of the early days of the EV boom, where positive sentiment fueled rallies.
- The market's perception of Cohu appears to be improving, possibly due to positive news or industry trends. This is similar to how investor sentiment shifted on Netflix as streaming became mainstream.
- There's a growing narrative that Cohu is well-positioned to benefit from increased demand in its sector. Think of it like how cloud computing companies benefited from the rise of remote work – being in the right place at the right time.
Bear Case
- Recent insider activity, while showing some buying, also includes sales, which could indicate mixed feelings about the company's prospects. This reminds me of the concerns surrounding GE before its restructuring.
- Community sentiment, though generally positive, also shows concerns about potential headwinds for Cohu. It's like the debates around Tesla's production capacity – enthusiasm mixed with real challenges.
- Market perception of Cohu may be overly optimistic, potentially leading to a correction if expectations aren't met. This is similar to how some tech stocks were overvalued during the dot-com bubble.
- There's a risk that Cohu's growth trajectory might be slower than anticipated, given potential competitive pressures. This is akin to how traditional retailers struggled to adapt to Amazon's dominance.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $125M | -$12M | -$0.26 |
| Q4 2025 | $122M | -$22M | -$0.48 |
| Q3 2025 | $126M | -$4M | -$0.09 |
| Q2 2025 | $108M | -$17M | -$0.36 |
Based on FMP financials and quantitative analysis
COHU Latest News
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Shares of semiconductor and chip companies are trading lower after reports suggested that OpenAI may delay its IPO until next year. Investors may anticipate the industry to face a weakening demand after notes raised concerns about a slowdown in the AI company's infrastructure spending.
Benzinga · Jun 26, 2026
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TD Cowen Maintains Buy on Cohu, Raises Price Target to $80
benzinga · Jun 16, 2026
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Simulations Plus, One Stop Systems, Space Exploration Technologies And Other Big Stocks Moving Higher On Tuesday
benzinga · Jun 16, 2026
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Veeco (VECO) Soars 7.2%: Is Further Upside Left in the Stock?
Yahoo! Finance: COHU News · Jun 16, 2026
COHU Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for COHU.
Price Targets
Consensus target: $32.50
COHU MoonshotScore
What does this score mean?
The MoonshotScore rates COHU's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Latest News
Shares of semiconductor and chip companies are trading lower after reports suggested that OpenAI may delay its IPO until next year. Investors may anticipate the industry to face a weakening demand after notes raised concerns about a slowdown in the AI company's infrastructure spending.
TD Cowen Maintains Buy on Cohu, Raises Price Target to $80
Simulations Plus, One Stop Systems, Space Exploration Technologies And Other Big Stocks Moving Higher On Tuesday
Veeco (VECO) Soars 7.2%: Is Further Upside Left in the Stock?
Latest Cohu, Inc. Analysis
Leadership: Luis Antonio Müller
CEO
Luis Antonio Müller serves as the CEO of Cohu, Inc., managing a global workforce of 2986 employees. His career spans various leadership roles in the technology sector, with a focus on driving innovation and operational excellence. Prior to joining Cohu, Müller held executive positions at leading semiconductor and electronics companies, where he spearheaded strategic initiatives and oversaw significant revenue growth. He holds advanced degrees in engineering and business administration, providing a strong foundation for leading a technology-driven organization.
Track Record: Under Luis Antonio Müller's leadership, Cohu, Inc. has focused on expanding its product portfolio and strengthening its market position in the semiconductor testing industry. Key achievements include the development and launch of the DI-Core data analytics product and strategic initiatives to penetrate the automotive semiconductor market. Müller's tenure has also emphasized operational efficiency and customer satisfaction.
What Investors Ask About Cohu, Inc. (COHU) — Technology
What does Cohu, Inc. do?
Cohu, Inc. specializes in providing semiconductor test and inspection equipment and services. The company's offerings include test handlers, MEMS test modules, test contactors, and automated test equipment used by semiconductor manufacturers and test subcontractors to ensure the quality and reliability of their products. Cohu also provides data analytics software, such as DI-Core, to optimize equipment performance and improve manufacturing processes. The company operates globally, serving customers in key semiconductor manufacturing regions.
What do analysts say about COHU stock?
Analyst coverage of Cohu, Inc. typically focuses on its growth prospects within the semiconductor testing market and its ability to capitalize on industry trends such as the increasing complexity of semiconductors and the demand for higher reliability. Key valuation metrics include price-to-earnings ratio, price-to-sales ratio, and enterprise value-to-EBITDA. Analysts often consider Cohu's competitive positioning, its product portfolio, and its geographic reach when assessing its growth potential. The company's profitability and cash flow generation are also closely monitored.
What are the main risks for COHU?
Cohu, Inc. faces several risks, including intense competition in the semiconductor testing equipment market, technological obsolescence requiring continuous innovation, and economic downturns impacting semiconductor demand. The company's profitability is also a concern, as indicated by its recent negative profit margin. Global supply chain disruptions and geopolitical risks can affect component availability and manufacturing costs. Additionally, changes in industry standards and regulations could require significant investments in compliance.
What are the key factors to evaluate for COHU?
Cohu, Inc. (COHU) holds an AI score of 55/100 (moderate). P/E: 43.1x vs the S&P 500's ~20-25x. Analysts target $32.50 (-46%). Not financial advice.
How frequently does COHU data refresh on this page?
COHU prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven COHU's recent stock price performance?
Cohu, Inc. (COHU) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Comprehensive product portfolio in semiconductor testing. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider COHU overvalued or undervalued right now?
Cohu, Inc. (COHU) trades at 43.1x earnings. Analysts target $32.50 (-46%) — downside risk seen. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying COHU?
Before investing in Cohu, Inc. (COHU), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available data and may be subject to change.
- Financial metrics are as of the latest available reporting period.