Reading COHU? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track COHU free→Reading COHU? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track COHU free→NASDAQInformation TechnologySemiconductor Equipment & MaterialsSnapshot 2026-06-15
Recent financial performance sits well below its industry cohort — worth keeping an eye on, though it has not freshly broken.
Recent financial performance is weak, and the company was unprofitable over the past year, so its earnings quality can't be assessed. Management's recent track record has been steady, and risk is moderate. The sector backdrop is a tailwind, but compared with sector peers, COHU is below typical. Peer multiples imply a price about 16% above where it trades (it looks cheap on this basis); the read is fair, but weakening. This assessment is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 3 valuation methods, at three horizons. Current price $64.05. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $64 COHU trades at 6× p/s, below its 7× p/s peer median. Our $77 fair value sits above the price; low confidence. Analysts: $53–$60. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The price implies about 17% below a flat-multiple fair value, below our forecast of about 12%. This describes what's priced in, not a forecast of the move.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Information Technology names rated weak grew net income 63% of the time over the next year (vs 62% for the rest of the cohort, n=2777).
Over the trailing year it converted -0.94x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity.
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $0.14 → $0.14 (+0.0% / 30d). 0 raised, 2 cut, 7 covering analysts.
0 upgrades, 0 downgrades / 30d. 100% of analysts rate Buy.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$294.
How much price usually moves either way.
On a bad day, this stock has moved -$459.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $2,024.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-15
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: Hitting this sales target shows strong demand for AI and high-performance computing.
Confirms:Q2 2026 sales reported at $144 million or higher.
Disproves:Q2 2026 sales reported below $137 million.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for COHU yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
of this Current Report on Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing. Use of Non-GAAP Financial Information: Included within this current report n…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
$53.00 – $60.00 (median $54.50) · 4 analysts · as of 2026-05-01
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Roughly priced in line with peers.
Self-history needs ~20 months of data.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Semiconductor Materials & Equipment.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
COHU Cohu, Inc. | Below typical Show detailsSector percentile: 26 of 100 | fair | moderate |
ASML ASML Holding N.V. | — | — | moderate |
LRCX Lam Research | Typical Show detailsSector percentile: 69 of 100 | full | elevated |
AMAT Applied Materials | Above typical Show detailsSector percentile: 83 of 100 | full | elevated |
KLAC KLA Corporation | Above typical Show detailsSector percentile: 97 of 100 | inexpensive | high |
3 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Information Technology names rated stable grew net income 56% of the time over the next year (vs 62% for the rest of the cohort, n=797).
Not investment advice. As of 2026-06-15.
via XLK
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-15.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Focus on increasing revenue growth through strategic initiatives.
Aim to improve operating income through cost management and efficiency.
Focus on enhancing cash flow from operations to support financial stability.
Why it matters: Growth in this market is key to Cohu's revenue outlook and overall strategy.
Confirms:Cohu's AI-driven compute revenue grew over 20% from last year.
Disproves:AI-driven compute revenue growth is below 10% compared to last year.
Why it matters: High test cell use shows strong demand and good operations. This can lead to more revenue.
Confirms:Test cell utilization reported above 78% at the end of Q2 2026.
Disproves:Test cell utilization reported below 75% at the end of Q2 2026.
Why it matters: If sector revenue growth drops, it may impact Cohu's performance. It could signal a broader slowdown in demand.
Confirms:Sector revenue growth reported below its median.
Disproves:Sector revenue growth remains above its median.
Why it matters: Better operating income means Cohu is managing costs well. It also shows good operations.
Confirms:Operating income should be positive or less negative than -$11 million in Q2 2026.
Disproves:Operating income reported worse than -$15 million in Q2 2026.
Why it matters: Better cash flow would enhance Cohu's ability to invest in growth and manage debt.
Confirms:Cash flow from operations turns positive in Q2 2026.
Disproves:Cash flow from operations remains negative in Q2 2026.
Why it matters: Sustaining over 20% growth shows Cohu is on track with its revenue goals. It would confirm the progress in strategic initiatives.
Confirms:Q2 revenue growth reported above 20% year over year.
Disproves:Q2 revenue growth reported below 15% year over year.
of this Current Report on Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing. Use of Non-GAAP Financial Information: Included within this current report a…
Entry into a Material Definitive Agreement. 1.50% Convertible Senior Notes due 2031 On September 29, 2025, Cohu, Inc. (the “Company”) issued $287.5 million aggregate principal amount of 1.50% Convertible Senior Notes due 2031 (the “Notes”). The Notes issued on September 29, 2025 include the full exercise by the initial purchasers on September 25, 2025 of their option to purchase an additional $27.5 million aggregate principal amount of Notes. Use of Proceeds The Company’s net proceeds from th…
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. The disclosure set forth in
The Notes were issued to the initial purchasers in reliance upon Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), in transactions not involving any public offering. The Notes were resold by the initial purchasers to persons reasonably believed to be “qualified institutional buyers,” as defined in, and in accordance with, Rule 144A under the Securities Act. Any shares of common stock that may be issued upon conversion of the Notes will be issued in reliance upo…