Cohu, Inc. (COHU)

NASDAQInformation TechnologySemiconductorsSnapshot 2026-10-23

$47.96+3.67%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Cohu, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

-2.0%

+10% or more+5%0%−5%−10% or less

1.85 → 1.81 EPS · FY ending Dec 27, 2027 · 5 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 5 to 5; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-27
Revenue	—	168.12M
EPS	—	0.309
Annual ending 2026-12-27
Revenue	—	612.48M
EPS	—	0.934
Annual ending 2027-12-27
Revenue	—	769.83M
EPS	—	1.809

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Manage debt and share buybacks prudently	A supporting condition in Cohu, Inc.'s published investment case. The stated target is No material increase in debt stress or halted buybacks.	Intact	Debt levels or capital moves materially worsen financial risk	Qualitative condition This condition has no defined numerical measure. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Operating loss narrows from -$11.2M in 2026-Q1	A primary condition in Cohu, Inc.'s published investment case. The stated target is Operating loss less negative than -$11.2 million.	Improving	Operating loss worsens beyond -$11.2 million over next 4 quarters	Operating income: $292,000 FY2026-Q2; GAAP. Published target: Operating loss less negative than -$11.2 million. Target period is not explicitly aligned with this observation. Source published Jul 31, 2026292,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 27, 2026 Source: company_financial_results. Reference: 5d8c689d-0f1e-4493-b3c4-d4e98114248a. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Operating income improved from a loss of $17.2 million in 2025-Q2 to a positive $0.3 million in 2026-Q2. This trajectory shows delivering progress on improving operating income through operational improvements. Delivery assessment Oct 24, 2026
Revenue grows to at least $137M in 2026-Q2	A primary condition in Cohu, Inc.'s published investment case. The stated target is >= $137 million.	Intact	Revenue falls below $137 million in 2026-Q2	Revenue: $149.002M FY2026-Q2; GAAP. Published target: >= $137 million. The target does not explicitly identify fiscal versus calendar quarters. Source published Jul 31, 2026149,002,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 27, 2026 Source: company_financial_results. Reference: 5d8c689d-0f1e-4493-b3c4-d4e98114248a. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Revenue grew from $107.7 million in 2025-Q2 to $149.0 million in 2026-Q2, a 38% increase year-over-year. Management has consistently raised the FY26 high-performance computing revenue outlook, reaching $100-$110 million, indicating delivering progress on revenue growth. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-27 · fmp

FY2027 EPS$1.81

Unavailable → $1.81 · observed estimates

FY2027 revenue$0.77B

$0.68B → $0.77B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	$683,660,625	4 / 5
2026-07-25	Unavailable	$683,660,625	4 / 5
2026-07-26	Unavailable	$683,660,625	4 / 5
2026-07-27	Unavailable	$683,660,625	4 / 5
2026-07-28	Unavailable	$683,660,625	4 / 5
2026-07-29	Unavailable	$683,660,625	4 / 5
2026-07-30	Unavailable	$683,660,625	4 / 6
2026-07-31	Unavailable	$708,799,275	4 / 6
2026-08-01	Unavailable	$708,799,275	4 / 6
2026-08-02	Unavailable	$769,802,250	4 / 6
2026-08-03	Unavailable	$769,802,250	4 / 6
2026-08-04	Unavailable	$769,802,250	4 / 6
2026-08-05	Unavailable	$769,802,250	4 / 6
2026-08-06	Unavailable	$769,802,250	4 / 6
2026-08-07	Unavailable	$769,802,250	4 / 6
2026-08-08	Unavailable	$769,802,250	4 / 6
2026-08-09	Unavailable	$769,802,250	4 / 6
2026-08-10	Unavailable	$769,802,250	4 / 6
2026-08-11	Unavailable	$769,802,250	4 / 6
2026-08-12	Unavailable	$769,802,250	4 / 6
2026-08-13	Unavailable	$769,802,250	4 / 6
2026-08-14	Unavailable	$769,802,250	4 / 6
2026-08-15	Unavailable	$769,802,250	4 / 6
2026-08-16	Unavailable	$769,802,250	4 / 6
2026-08-17	Unavailable	$769,802,250	4 / 6
2026-08-18	Unavailable	$769,802,250	4 / 6
2026-08-19	Unavailable	$769,802,250	4 / 6
2026-08-20	$1.85	$769,802,250	5 / 6
2026-08-21	$1.85	$769,802,250	5 / 6
2026-08-22	$1.85	$769,802,250	5 / 6
2026-08-23	$1.85	$769,802,250	5 / 6
2026-08-24	$1.85	$769,802,250	5 / 6
2026-08-25	$1.85	$769,802,250	5 / 6
2026-08-26	$1.85	$769,802,250	5 / 6
2026-08-27	$1.85	$769,802,250	5 / 6
2026-08-28	$1.85	$769,802,250	5 / 6
2026-08-29	$1.85	$769,802,250	5 / 6
2026-08-30	$1.85	$769,802,250	5 / 6
2026-08-31	$1.85	$769,802,250	5 / 6
2026-09-01	$1.85	$769,802,250	5 / 6
2026-09-02	$1.85	$769,802,250	5 / 6
2026-09-03	$1.85	$769,802,250	5 / 6
2026-09-04	$1.85	$769,802,250	5 / 6
2026-09-05	$1.85	$769,802,250	5 / 6
2026-09-06	$1.85	$769,802,250	5 / 6
2026-09-07	$1.85	$769,802,250	5 / 6
2026-09-08	$1.85	$769,802,250	5 / 6
2026-09-09	$1.85	$769,802,250	5 / 6
2026-09-10	$1.85	$769,802,250	5 / 6
2026-09-11	$1.85	$769,802,250	5 / 6
2026-09-12	$1.85	$769,802,250	5 / 6
2026-09-13	$1.85	$769,802,250	5 / 6
2026-09-14	$1.85	$769,802,250	5 / 6
2026-09-15	$1.85	$769,802,250	5 / 6
2026-09-16	$1.85	$769,802,250	5 / 6
2026-09-17	$1.85	$769,802,250	5 / 6
2026-09-18	$1.85	$769,802,250	5 / 6
2026-09-19	$1.85	$769,802,250	5 / 6
2026-09-20	$1.85	$769,802,250	5 / 6
2026-09-21	$1.85	$769,802,250	5 / 6
2026-09-22	$1.85	$769,802,250	5 / 6
2026-09-23	$1.85	$769,802,250	5 / 6
2026-09-24	$1.85	$769,802,250	5 / 6
2026-09-25	$1.85	$769,802,250	5 / 6
2026-09-26	$1.85	$769,802,250	5 / 6
2026-09-27	$1.85	$769,802,250	5 / 6
2026-09-28	$1.85	$769,802,250	5 / 6
2026-09-29	$1.85	$769,802,250	5 / 6
2026-09-30	$1.85	$769,802,250	5 / 6
2026-10-01	$1.85	$769,802,250	5 / 6
2026-10-02	$1.85	$769,802,250	5 / 6
2026-10-03	$1.85	$769,802,250	5 / 6
2026-10-04	$1.85	$769,802,250	5 / 6
2026-10-05	$1.85	$769,802,250	5 / 6
2026-10-06	$1.85	$769,802,250	5 / 6
2026-10-07	$1.85	$769,802,250	5 / 6
2026-10-08	$1.85	$769,802,250	5 / 6
2026-10-09	$1.85	$769,802,250	5 / 6
2026-10-10	$1.85	$769,802,250	5 / 6
2026-10-11	$1.85	$769,802,250	5 / 6
2026-10-12	$1.85	$769,802,250	5 / 6
2026-10-13	$1.85	$769,802,250	5 / 6
2026-10-14	$1.85	$769,802,250	5 / 6
2026-10-15	$1.85	$769,802,250	5 / 6
2026-10-16	$1.85	$769,802,250	5 / 6
2026-10-17	$1.85	$769,802,250	5 / 6
2026-10-18	$1.85	$769,800,400	5 / 6
2026-10-19	$1.85	$769,800,400	5 / 6
2026-10-20	$1.85	$769,800,400	5 / 6
2026-10-21	$1.85	$769,800,400	5 / 6
2026-10-22	$1.81	$769,825,400	5 / 6
2026-10-23	$1.81	$769,825,400	5 / 6
2026-10-24	$1.81	$769,825,400	5 / 6

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	7	0	0
2026-06-01	7	0	0
2026-07-01	8	0	0
2026-08-01	8	0	0
2026-09-01	8	0	0
2026-10-01	8	0	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 8 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Manage debt and share buybacks prudentlyQualitative condition
Operating loss narrows from -$11.2M in 2026-Q1Operating income: $292,000
Revenue grows to at least $137M in 2026-Q2Revenue: $149.002M

Next proof point

Oct 28, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

4.4%Typical daily move · historical

Downside history

-46.8%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Cohu, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a cyclical semiconductor-equipment business with a recovery and execution thesis, rather than a proven durable compounder. The long-term thesis is in a watch state: revenue, operating income, and cash flow have improved, but earnings remain loss-making overall and recent performance trails its industry cohort.

What's priced into Cohu, Inc.

Valuation is aligned with the model, but COHU carries a premium versus peers and the expectations gap is negative, meaning expectations appear demanding relative to the evidence. The priced-in signal is tagged justified and fragility is low, though model confidence is low, so the valuation read is uncertain.

What the fundamentals likely do

Near-term, results may remain uneven: COHU missed its most recent quarter after earlier misses, despite an earnings beat in July and a recent guidance increase. Over the multi-year view, execution has improved, with higher revenue, operating income moving just above zero in the latest cited quarter, and cash from operations turning positive; continued progress is not yet established.

What Cohu, Inc. hinges on

The key swing factor is whether management can sustain growth and improve profitability without reversing its recently raised guidance. A guidance cut would damage confidence, while lower interest rates or continued strength among major technology companies could support the sector backdrop, but would not replace company-level execution.