Cohu (COHU) Stock Overview
Through its subsidiaries, provides semiconductor test equipment and services in the United States, Taiwan, China, Malaysia, the Philippines, Singapore, and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 5/6 |
| Past Performance | 0/6 |
| Financial Health | 3/6 |
| Dividends | 0/6 |
COHU Community Fair Values
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Analyst Price Targets
Cohu, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$57.08 |
| 52 Week High | US$74.60 |
| 52 Week Low | US$18.67 |
| Beta | 1.59 |
| 1 Month Change | -2.16% |
| 3 Month Change | -6.93% |
| 1 Year Change | 176.42% |
| 3 Year Change | 63.88% |
| 5 Year Change | 70.64% |
| Change since IPO | 4,934.46% |
Recent News & Updates
Seeking Alpha • Sep 10
Cohu: 80% Utilization Matters More Than The $850 Million AI Pipeline
Summary Cohu's second quarter recovery was broader than the AI headline: revenue rose 38% year over year, test-cell utilization reached roughly 80%, and adjusted EBITDA margin increased to 12.3%. The advertised $850 million high-performance-computing pipeline is not a backlog. Only about $190 million is currently qualified, while most of the opportunity remains in engagement or qualification. Investor Day on November 10 could be a meaningful catalyst because Cohu's existing three-to-five-year financial model is already becoming dated at the low end. At $56.68, Cohu trades near 4.1x projected 2026 sales on an EV basis. My $60 fair value leaves too little upside for a Buy, so I rate COHU a Hold. Read the full article on Seeking Alpha
Narrative Update • Aug 24
COHU: AI HPC Demand Will Drive Higher Margin Mix And Returns
Cohu's updated analyst price target of $65, up from $53, reflects analysts' focus on recent strong quarters, higher long term AI HPC demand expectations, improving utilization trends, and a shift toward a higher growth and higher margin business mix. Analyst Commentary Recent research on Cohu highlights a mix of enthusiasm around AI driven demand and some clear areas where analysts see room for caution.
Narrative Update • Aug 10
COHU: AI HPC Test Demand Will Drive Next Phase Of Cycle
Analysts have raised their Cohu fair value estimate from about $60.29 to $70.88, citing higher long term revenue growth and margin expectations, a lower projected future P/E multiple, and stronger AI driven demand signals from recent quarters and updated guidance. Analyst Commentary Recent research on Cohu focuses heavily on AI driven demand, higher utilization levels, and updated long term guidance, with most Street commentary leaning positive on execution and growth potential.Recent updates
Seeking Alpha • Sep 10
Cohu: 80% Utilization Matters More Than The $850 Million AI Pipeline
Summary Cohu's second quarter recovery was broader than the AI headline: revenue rose 38% year over year, test-cell utilization reached roughly 80%, and adjusted EBITDA margin increased to 12.3%. The advertised $850 million high-performance-computing pipeline is not a backlog. Only about $190 million is currently qualified, while most of the opportunity remains in engagement or qualification. Investor Day on November 10 could be a meaningful catalyst because Cohu's existing three-to-five-year financial model is already becoming dated at the low end. At $56.68, Cohu trades near 4.1x projected 2026 sales on an EV basis. My $60 fair value leaves too little upside for a Buy, so I rate COHU a Hold. Read the full article on Seeking AlphaNarrative Update • Aug 24
COHU: AI HPC Demand Will Drive Higher Margin Mix And Returns
Cohu's updated analyst price target of $65, up from $53, reflects analysts' focus on recent strong quarters, higher long term AI HPC demand expectations, improving utilization trends, and a shift toward a higher growth and higher margin business mix. Analyst Commentary Recent research on Cohu highlights a mix of enthusiasm around AI driven demand and some clear areas where analysts see room for caution.Narrative Update • Aug 10
COHU: AI HPC Test Demand Will Drive Next Phase Of Cycle
Analysts have raised their Cohu fair value estimate from about $60.29 to $70.88, citing higher long term revenue growth and margin expectations, a lower projected future P/E multiple, and stronger AI driven demand signals from recent quarters and updated guidance. Analyst Commentary Recent research on Cohu focuses heavily on AI driven demand, higher utilization levels, and updated long term guidance, with most Street commentary leaning positive on execution and growth potential.
Narrative Update • Jul 27
COHU: AI Semiconductor Testing Demand Will Drive Future Earnings Power
For Cohu, the analyst fair value estimate moves from $41.00 to $80.00. Analysts point to stronger AI driven demand for semiconductor test and inspection equipment, improved margin expectations, and higher revenue growth assumptions as key supports for the higher target range clustered around $65 to $80.Narrative Update • Jul 13
COHU: AI Semiconductor Test Demand And Cycle Risks Will Shape Returns
The analyst fair value estimate for Cohu has been raised from $26.00 to $53.00. This change reflects higher Street price targets in the $65 to $80 range and analyst expectations for stronger AI driven demand, improving margins, and a recovery in key end markets.Narrative Update • Jun 29
COHU: AI HPC Test Demand And Auto Recovery Will Shape Cycle
Cohu's updated analyst price target has risen by $2.86, reflecting analysts' view that slightly higher fair value, revenue growth, and profit margin assumptions, along with a modestly lower discount rate, better capture the potential tied to AI HPC demand and related test and inspection systems. Analyst Commentary Recent Street research around Cohu points to a broadly constructive tone, with multiple price target revisions that highlight both the perceived opportunity around AI high performance computing and the execution work still ahead.Narrative Update • Jun 15
COHU: AI Data Center Demand Will Test Cycle And Execution Resilience
Analysts have lifted their price targets on Cohu by between $2 and $25, reflecting updated views on the stock that are broadly consistent with only slight tweaks to discount rate, revenue growth, profit margin, and future P/E assumptions in the underlying models. Analyst Commentary Recent Street research on Cohu clusters around higher price targets with relatively modest changes to underlying modeling assumptions.Narrative Update • Jun 01
COHU: AI And Auto Recovery Prospects Will Face Cycle And Execution Risks
Narrative Update: Cohu Analyst Price Target Shift The analyst price target for Cohu has been revised higher by multiple firms, with increases such as $25, $21, $18, $10, $9, $5 and a new $35 initiation. Analysts cite potential support from a cyclical auto industrial recovery, expansion into AI and compute applications, and recurring revenue.Narrative Update • May 10
COHU: AI And Auto Recovery Upside Will Likely Drive Forward Returns
Analysts have lifted the implied fair value for Cohu from $35.50 to about $57.43, reflecting updated assumptions for revenue growth, profit margins and future P/E multiples that are consistent with a series of recent price target increases across major research firms. Analyst Commentary Recent Street research on Cohu has centered around a series of price target adjustments and fresh coverage that collectively frame how analysts are thinking about the stock's risk and reward profile.Narrative Update • Apr 23
COHU: AI And Auto Recovery Hopes Will Likely Disappoint Forward Returns
Analysts have lifted their fair value estimate for Cohu from $34.00 to $35.50, citing recent price target increases and research that highlights cyclical auto industrial demand, AI and compute exposure, and recurring revenue as key factors behind the updated view. Analyst Commentary Recent Street research on Cohu has focused on how the company is positioned for cyclical demand in auto and industrial markets, potential exposure to AI and compute applications, and the stability offered by recurring revenue.New Narrative • Apr 20
HBM Inspection And AI Test Exposure Will Constrain Margins And Future Earnings
Catalysts About Cohu Cohu supplies semiconductor test and inspection equipment and related recurring products and services to customers across computing, automotive, industrial and mobile end markets. What are the underlying business or industry changes driving this perspective?Narrative Update • Apr 08
COHU: AI Compute And Auto Recovery Themes Will Shape Future Risk Balance
Analysts have raised their fair value estimate for Cohu to $34.00, supported by a series of higher Street price targets and new coverage that highlight recurring revenue, AI and compute exposure, and anticipated auto industrial demand as key supports for the story. Analyst Commentary Recent Street research on Cohu centers on how the stock lines up with key secular themes, the balance of recurring versus cyclical revenue, and where current execution sits relative to analyst price targets in the low to mid US$30s.New Narrative • Apr 06
High Recurring Revenue And AI Test Demand Will Support Stronger Future Prospects
Catalysts About Cohu Cohu supplies test handlers, inspection, metrology, testers, interfaces and related services for semiconductor and electronics manufacturing. What are the underlying business or industry changes driving this perspective?Narrative Update • Mar 25
COHU: AI Memory And Auto Recovery Themes Will Shape Balanced Risk Profile
The updated analyst price target for Cohu has moved modestly higher to about $32.67. Analysts point to expected support from an eventual auto industrial recovery, expansion into AI and compute applications, and recurring revenue as key reasons for refining their assumptions.Narrative Update • Mar 10
COHU: Future AI Memory Demand Will Support Hidden HBM Exposure Potential
Analysts have slightly reset their Cohu price targets around the $30 level, with modest trims and raises reflecting updated views on discount rates, profit expectations, and the stock's role as a "hidden HBM play" tied to high bandwidth memory demand in artificial intelligence. Analyst Commentary Recent research on Cohu clusters around the idea that the stock is increasingly tied to high bandwidth memory demand in artificial intelligence, with price targets generally coalescing near the $30 level and modest moves both higher and lower as assumptions are updated.Narrative Update • Feb 23
COHU: Future AI Memory Role Will Balance Execution Uncertainty And Shareholder Actions
Our analyst price target for Cohu has moved modestly higher to $31.80 from $30.60, reflecting updated views on fair value, profitability, and long term P/E assumptions informed by recent research in which several firms raised their targets while another trimmed its outlook. Analyst Commentary Recent research on Cohu shows a mix of optimism and caution, with several firms adjusting price targets and one issuing an upgrade alongside a specific thematic angle around high bandwidth memory, or HBM.Narrative Update • Feb 09
COHU: Future AI Memory Exposure Will Balance Opportunity With Execution Risk
Analysts have lifted their fair value estimate for Cohu by about US$1 to US$30.60, citing updated price targets and a view that the company is positioned to benefit from high bandwidth memory trends in artificial intelligence in the coming years. Analyst Commentary Recent Street research has turned more constructive on Cohu, with several firms updating ratings and price targets as they reassess the company’s role in high bandwidth memory for artificial intelligence applications.Narrative Update • Jan 24
COHU: Future AI Memory Exposure Will Shape Returns With Measured Upside Potential
Analysts have nudged their fair value estimate for Cohu to US$29.60 from US$29.20, citing Street research that highlights the company's exposure as a "hidden HBM play" in artificial intelligence memory and a higher future P/E assumption of 18.60x. Analyst Commentary Bullish Takeaways Bullish analysts see Cohu's role in high bandwidth memory testing as a key driver for its positioning in artificial intelligence infrastructure, which supports the higher fair value and future P/E assumption of 18.60x.Analysis Article • Jan 16
Cohu, Inc. (NASDAQ:COHU) Surges 25% Yet Its Low P/S Is No Reason For Excitement
Cohu, Inc. ( NASDAQ:COHU ) shares have continued their recent momentum with a 25% gain in the last month alone. Taking...Narrative Update • Jan 09
COHU: Hidden HBM Exposure Will Support Future AI-Driven Earnings Potential
Analysts have nudged their fair value estimate for Cohu from US$29.00 to roughly US$29.20, reflecting updated assumptions around revenue growth, profit margins and future P/E, as well as growing interest in the company as a potential high bandwidth memory beneficiary for artificial intelligence demand. Analyst Commentary Bullish Takeaways Bullish analysts see Cohu as a “hidden HBM play,” suggesting its exposure to high bandwidth memory test demand could support assumptions for revenue and earnings over time if AI related orders remain healthy.Narrative Update • Dec 17
COHU: Future AI And HPC Demand Will Drive Margin Expansion Potential
Analysts have modestly raised their price target on Cohu to approximately $29.00 per share, reflecting slightly improved profit margin expectations and a marginally lower anticipated future price-to-earnings multiple. What's in the News Cohu issued new sales guidance for the fourth quarter of 2025, targeting revenue of approximately $122 million, plus or minus $7 million (company guidance).Analysis Article • Dec 15
Is Cohu (NASDAQ:COHU) Using Debt In A Risky Way?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Narrative Update • Dec 03
COHU: Future AI And HPC Demand Will Drive Strong Upside Potential
Narrative Update on Cohu Analysts have modestly raised their price target on Cohu from approximately $29.00 to about $29.50 per share, reflecting slightly lower discount rate assumptions and sustained expectations for revenue growth in the mid teens and stable profit margins. What's in the News Cohu completed its existing share repurchase program, retiring 4,022,737 shares, representing about 8.43% of shares outstanding for $117.17 million, with no additional shares repurchased in the latest tranche (Key Developments).Narrative Update • Nov 19
COHU: Improved Profit Margins And Share Buybacks Will Drive Future Upside
Analysts have raised their price target for Cohu from $28.50 to $29.00. They cite a notable improvement in expected profit margin and a lower future price-earnings ratio as key factors supporting the updated valuation.Narrative Update • Nov 05
COHU: Upcoming Demand For AI And Memory Markets Will Drive Performance
Analysts have raised their price target for Cohu from $25.75 to $28.50, citing updated estimates on valuation and profitability. What's in the News Cohu, Inc.Analysis Article • Sep 19
Improved Revenues Required Before Cohu, Inc. (NASDAQ:COHU) Shares Find Their Feet
You may think that with a price-to-sales (or "P/S") ratio of 2.8x Cohu, Inc. ( NASDAQ:COHU ) is a stock worth checking...Analysis Article • Aug 13
Is Cohu (NASDAQ:COHU) Using Too Much Debt?
NasdaqGS:COHU 1 Year Share Price vs Fair Value Explore Cohu's Fair Values from the Community and select yours The...Analysis Article • May 17
Cohu, Inc.'s (NASDAQ:COHU) Shares Bounce 28% But Its Business Still Trails The Industry
Cohu, Inc. ( NASDAQ:COHU ) shareholders are no doubt pleased to see that the share price has bounced 28% in the last...Analysis Article • May 13
Is Cohu (NASDAQ:COHU) Weighed On By Its Debt Load?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
New Narrative • Mar 24
Data Center, EDGE AI And Semiconductor Solutions Will Create Opportunities
Strategic expansion into data center, EDGE AI, memory, and silicon carbide markets could drive substantial future revenue growth and diversification.Analysis Article • Mar 11
Cohu, Inc. (NASDAQ:COHU) Not Doing Enough For Some Investors As Its Shares Slump 26%
Unfortunately for some shareholders, the Cohu, Inc. ( NASDAQ:COHU ) share price has dived 26% in the last thirty days...Analysis Article • Feb 09
Cohu (NASDAQ:COHU) Has Debt But No Earnings; Should You Worry?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Seeking Alpha • Nov 08
Cohu: Restraint Still Necessary Even With An Improved Outlook
Summary The Q3 FY2024 results and Q4 guidance fell short, but Cohu was able to avoid a backlash by holding out an imminent return to growth. The last few years have been brutal for COHU, but next year could be different, assuming Q1 FY2025 carries over into the following quarters. The stock has rallied following the latest report, but the charts suggest the trend for the last few years remains intact for now, especially with resistance in the way. Some may decide to jump in on the rally, but there are nonetheless several reasons why keeping some restraint is in order. Read the full article on Seeking AlphaAnalysis Article • Oct 29
Is Cohu (NASDAQ:COHU) Using Debt Sensibly?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • Sep 28
Cohu, Inc.'s (NASDAQ:COHU) Business And Shares Still Trailing The Industry
Cohu, Inc.'s ( NASDAQ:COHU ) price-to-sales (or "P/S") ratio of 2.4x might make it look like a buy right now compared...Seeking Alpha • Aug 15
Cohu: The Timing Of The Next Upturn Remains Unclear
Summary Cohu stock’s collapse in August was exacerbated by stock market volatility, but the latest guidance coming in weaker than expected was the main villain. The conditions are there for a bounce in the stock after the big drop, but more will be needed to prevent the stock from continuing weakness. There is a wide divergence as to what to expect from COHU after Q3, and the risk someone places the wrong bet is high. COHU is likely to see a rebound in demand at some point, but that does not mean the stock cannot go lower before that happens. Read the full article on Seeking AlphaAnalysis Article • Jun 29
There Is A Reason Cohu, Inc.'s (NASDAQ:COHU) Price Is Undemanding
You may think that with a price-to-sales (or "P/S") ratio of 2.8x Cohu, Inc. ( NASDAQ:COHU ) is a stock worth checking...Analysis Article • May 23
These 4 Measures Indicate That Cohu (NASDAQ:COHU) Is Using Debt Reasonably Well
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Seeking Alpha • May 19
Cohu: Waiting For Some Green Shoots
Summary Cohu, a niche player in the back-end semiconductor manufacturing industry, has experienced declining revenues and is currently breaking even. The company's valuation is reasonable, trading at a low sales multiple as its earnings power has been severely pressured. Cohu's recent performance has been disappointing, with continued revenue declines and margin pressure, but there is potential for growth in the future. Read the full article on Seeking AlphaAnalysis Article • Apr 16
What Does Cohu, Inc.'s (NASDAQ:COHU) Share Price Indicate?
Cohu, Inc. ( NASDAQ:COHU ), is not the largest company out there, but it received a lot of attention from a substantial...Analysis Article • Apr 02
Does This Valuation Of Cohu, Inc. (NASDAQ:COHU) Imply Investors Are Overpaying?
Key Insights Cohu's estimated fair value is US$25.46 based on 2 Stage Free Cash Flow to Equity Cohu is estimated to be...Analysis Article • Mar 04
Cohu, Inc.'s (NASDAQ:COHU) Business Is Yet to Catch Up With Its Share Price
With a price-to-earnings (or "P/E") ratio of 54.9x Cohu, Inc. ( NASDAQ:COHU ) may be sending very bearish signals at...Shareholder Returns
| COHU | US Semiconductor | US Market | |
|---|---|---|---|
| 7D | 12.5% | -0.5% | -2.2% |
| 1Y | 176.4% | 50.1% | 13.1% |
Return vs Industry: COHU exceeded the US Semiconductor industry which returned 50.1% over the past year.
Return vs Market: COHU exceeded the US Market which returned 13.1% over the past year.
Price Volatility
| COHU volatility | |
|---|---|
| COHU Average Weekly Movement | 13.6% |
| Semiconductor Industry Average Movement | 11.7% |
| Market Average Movement | 6.9% |
| 10% most volatile stocks in US Market | 15.4% |
| 10% least volatile stocks in US Market | 2.9% |
Stable Share Price: COHU's share price has been volatile over the past 3 months compared to the US market.
Volatility Over Time: COHU's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of US stocks.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1947 | 2,777 | Luis Müller | www.cohu.com |
Cohu, Inc., through its subsidiaries, provides semiconductor test equipment and services in the United States, Taiwan, China, Malaysia, the Philippines, Singapore, and internationally. It supplies test and inspection metrology automation systems, micro-electromechanical system test modules, test contactors, thermal subsystems, and data analytics software for semiconductor manufacturers and test subcontractors. The company also provides semiconductor automated test equipment for wafer level and device package testing; various test handlers, including pick-and-place, turret, gravity, strip, film frame, laser marker, and thermal sub-systems; interface products comprising test contactors, and probe heads and pins; spares and kits; various parts and labor warranties on test and handling systems, and instruments; and training on the maintenance and operation of its systems, as well as application, data management software, and consulting services on its products.
Cohu, Inc. Fundamentals Summary
| COHU fundamental statistics | |
|---|---|
| Market cap | US$2.70b |
| Earnings (TTM) | -US$38.82m |
| Revenue (TTM) | US$522.60m |
5.2x
P/S Ratio-69.6x
P/E RatioIs COHU overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| COHU income statement (TTM) | |
|---|---|
| Revenue | US$522.60m |
| Cost of Revenue | US$292.91m |
| Gross Profit | US$229.69m |
| Other Expenses | US$268.50m |
| Earnings | -US$38.82m |
Last Reported Earnings
Jun 27, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | -0.82 |
| Gross Margin | 43.95% |
| Net Profit Margin | -7.43% |
| Debt/Equity Ratio | 38.2% |
How did COHU perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/12 01:48 |
| End of Day Share Price | 2026/09/11 00:00 |
| Earnings | 2026/06/27 |
| Annual Earnings | 2025/12/27 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Cohu, Inc. is covered by 12 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Quinn Fredrickson | Baird |
| Craig Ellis | B. Riley Securities, Inc. |
| Richard Ryan | Colliers Securities |