Cohu (NASDAQ:COHU) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Cohu (NASDAQ:COHU) announced its quarterly earnings data on Thursday. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02), FiscalAI reports. The firm had revenue of $125.12 million for the quarter, compared to the consensus estimate of $122.14 million. Cohu had a negative net margin of 11.54% and a negative return on equity of 3.45%. Cohu’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.02) earnings per share.

Here are the key takeaways from Cohu’s conference call:

• Orders increased 57% year‑over‑year and Q1 revenue of $125.1M beat guidance; management raised Q2 guidance to about $144M and now expects full‑year revenue growth of 20%–25%.
• Cohu cites an approximately $750M computing segment opportunity (about $650M test handlers and $100M HBM inspection) and raised its FY2026 HPC revenue outlook to $80M–$100M, with 12 customers engaged and multiple qualifications underway.
• The company is building recurring, high‑margin software revenue (ARR ~$1.2M, targeting ~$3M software revenue in 2026), citing examples where a $20M system carries ~$330k/year of subscription that could translate to roughly $5M lifetime recurring revenue.
• Operating expenses rose to $55M as Cohu scales resources for HPC, and higher initial supply‑chain and production costs for the Eclipse platform (plus elevated component, energy and freight costs) are expected to pressure gross margins toward the mid‑40% range near term.
• Balance sheet shows cash and investments of $489M (cash from operations ~$10M) but total debt of $305M, which includes $288M of convertible debt; no share repurchases were executed in Q1.

Cohu Trading Down 3.7%

COHU traded down $1.76 on Friday, hitting $45.59. 3,366,536 shares of the company were exchanged, compared to its average volume of 1,226,117. The firm has a fifty day simple moving average of $34.12 and a two-hundred day simple moving average of $28.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.69 and a current ratio of 6.88. Cohu has a 12 month low of $15.34 and a 12 month high of $49.34. The stock has a market capitalization of $2.15 billion, a PE ratio of -28.67 and a beta of 1.61.

Analysts Set New Price Targets

COHU has been the topic of several recent research reports. Needham & Company LLC increased their price objective on Cohu from $33.00 to $54.00 and gave the company a “buy” rating in a research report on Friday. Zacks Research upgraded Cohu from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. TD Cowen raised their price target on Cohu from $35.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group set a $60.00 price target on Cohu and gave the stock a “buy” rating in a research report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a research report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cohu currently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Insider Transactions at Cohu

In related news, SVP Christopher Bohrson sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $38.00, for a total transaction of $38,000.00. Following the transaction, the senior vice president directly owned 175,202 shares in the company, valued at $6,657,676. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cohu

Institutional investors and hedge funds have recently bought and sold shares of the business. Amundi purchased a new stake in Cohu in the 4th quarter worth approximately $454,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cohu by 3.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,214 shares of the semiconductor company’s stock worth $400,000 after buying an additional 905 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Cohu by 2.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 16,231 shares of the semiconductor company’s stock worth $378,000 after buying an additional 332 shares during the period. Gabelli Funds LLC purchased a new stake in Cohu in the 2nd quarter worth approximately $352,000. Finally, Caxton Associates LLP purchased a new stake in Cohu in the 1st quarter worth approximately $276,000. Hedge funds and other institutional investors own 94.67% of the company’s stock.

Key Stories Impacting Cohu

Here are the key news stories impacting Cohu this week:

• Positive Sentiment: Analysts raised targets and reiterated buys, citing AI/HPC-driven demand — Needham raised its target from $33 to $54 with a Buy rating and TD Cowen reiterated a Buy with a $60 target, supporting upside expectations. Benzinga
• Positive Sentiment: Company gave stronger-than-expected revenue guidance for Q2 ($137M–$151M vs. consensus ~$127M) and management emphasized strong order growth from HPC/AI test platforms — this underpins revenue visibility even though Q1 EPS missed. Earnings Highlights
• Positive Sentiment: Cohu disclosed follow-on orders (about $30M) for its Eclipse HPC test platform to support next‑gen HPC processors, reinforcing the company’s exposure to high‑growth AI/HPC test demand. Order Article
• Neutral Sentiment: Market writeups and earnings‑call transcripts highlight confident commentary and an upgraded outlook; useful for investors but not new financials by itself. Earnings Call Transcript
• Neutral Sentiment: Cohu is being featured on lists of small‑cap names gaining momentum, which can attract short‑term interest but does not change fundamentals. List Article
• Negative Sentiment: Q1 results: EPS of $0.01 missed the $0.03 consensus (though revenue of $125.1M slightly beat $122.1M and was +29% YoY). The profit miss and continued negative net margin/ROE temper enthusiasm and likely triggered intraday selling. Earnings Miss
• Negative Sentiment: Despite upbeat forward revenue guidance, profitability remains a concern (negative net margin and ROE), leaving upside dependent on converting order momentum into sustainable profits. Company Release

Cohu Company Profile

Cohu, Inc is a global provider of semiconductor test and inspection solutions, offering a broad portfolio of products designed to support chip manufacturers, outsourced semiconductor assembly and test (OSAT) providers, and electronics original equipment manufacturers (OEMs). The company’s product lineup includes automatic test handlers, wafer probers, test sockets, thermal subassembly systems and burn-in boards, all engineered to optimize throughput, accuracy and reliability in semiconductor production and final test.

Founded in 1947 and headquartered in Poway, California, Cohu has grown through both organic development and targeted acquisitions to become a recognized leader in test handling and interconnect technologies.