Cohu (NASDAQ:COHU) Announces Quarterly Earnings Results

Cohu (NASDAQ:COHU) posted its quarterly earnings results on Thursday. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12, FiscalAI reports. The company had revenue of $149.00 million for the quarter, compared to analyst estimates of $144.20 million. Cohu had a negative return on equity of 3.50% and a negative net margin of 11.54%.Cohu’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS.

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

• Strong Q2 execution: Revenue rose 38% year over year to $149 million, recurring revenue reached 53% of sales, non-GAAP EPS was $0.26, and gross margin exceeded guidance at 45.5%.
• AI and HPC momentum accelerated: Computing represented 46% of system orders, up 150% year over year, while Cohu raised its 2026 high-performance computing revenue outlook to $100 million-$110 million. The HPC opportunity pipeline expanded to approximately $850 million annually across 19 customers.
• Growth investments and guidance increased: The company expects Q3 revenue of about $170 million, up 14% sequentially, and now forecasts approximately 35% full-year 2026 revenue growth, or roughly $610 million-$615 million. Malaysia and Philippines manufacturing expansions are intended to more than double HPC handler output by mid-2027.
• Software adoption is becoming repeatable: Software analytics generated its first $1 million revenue quarter, with orders up 140% year over year, and Cohu is progressing toward its largest single-customer deployment while developing on-site agentic AI tools to support recurring revenue.
• Supply-chain and end-market risks remain: Memory and other specialty components have longer lead times and higher costs, potentially pressuring margins or customer pricing, while automotive demand remains weak, with utilization not expected to reach 80% until late Q1 or Q2 2027.

Cohu Stock Up 5.3%

COHU stock traded up $2.47 during trading on Friday, hitting $48.92. 890,641 shares of the company’s stock were exchanged, compared to its average volume of 1,139,828. The business has a 50-day moving average price of $56.68 and a two-hundred day moving average price of $42.39. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -41.11 and a beta of 1.55. Cohu has a 52-week low of $17.80 and a 52-week high of $74.60. The company has a current ratio of 6.43, a quick ratio of 5.31 and a debt-to-equity ratio of 0.37.

Insider Transactions at Cohu

In other Cohu news, Director William Bendush sold 7,500 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $49.14, for a total value of $368,550.00. Following the transaction, the director directly owned 24,780 shares in the company, valued at $1,217,689.20. This represents a 23.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Bilodeau sold 10,257 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $44.85, for a total transaction of $460,026.45. Following the sale, the director directly owned 52,272 shares in the company, valued at approximately $2,344,399.20. The trade was a 16.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 89,668 shares of company stock valued at $4,210,016 over the last three months. 3.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cohu

Institutional investors and hedge funds have recently bought and sold shares of the stock. Verition Fund Management LLC grew its holdings in shares of Cohu by 5.5% during the third quarter. Verition Fund Management LLC now owns 42,185 shares of the semiconductor company’s stock worth $858,000 after purchasing an additional 2,192 shares during the last quarter. Natixis Advisors LLC grew its stake in Cohu by 22.4% during the 3rd quarter. Natixis Advisors LLC now owns 39,383 shares of the semiconductor company’s stock worth $801,000 after buying an additional 7,211 shares during the last quarter. Bridgefront Capital LLC increased its position in Cohu by 156.5% during the fourth quarter. Bridgefront Capital LLC now owns 31,501 shares of the semiconductor company’s stock worth $733,000 after buying an additional 19,221 shares during the period. Woodline Partners LP acquired a new position in Cohu during the third quarter worth approximately $722,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Cohu in the third quarter valued at approximately $651,000. 94.67% of the stock is owned by hedge funds and other institutional investors.

Cohu News Roundup

Here are the key news stories impacting Cohu this week:

• Positive Sentiment: Cohu reported fiscal Q2 revenue of $149.0 million, up 38.3% year over year and ahead of the $144.2 million consensus estimate. Non-GAAP earnings were $0.26 per share, well above the $0.14 consensus and $0.02 reported a year earlier. Cohu Reports Second Quarter 2026 Results
• Positive Sentiment: Management issued fiscal Q3 revenue guidance of $163 million to $177 million, substantially above the roughly $146.6 million analyst forecast. The outlook signals continued sequential growth and was a major catalyst for the stock’s advance. Cohu jumps on strong Q2 results, guidance
• Positive Sentiment: On the earnings call, executives highlighted an accelerating growth outlook and increasing HPC-related demand, supporting expectations for stronger semiconductor test-equipment sales. Cohu Inc Earnings Call Highlights HPC-Driven Upswing
• Positive Sentiment: Needham analyst Charles Shi reaffirmed a Buy rating and raised his price target to $65, citing Cohu’s accelerating growth and HPC tailwinds. Needham raises Cohu price target
• Negative Sentiment: Despite the adjusted-profit beat, Cohu posted a small GAAP loss in Q2, and its first-half GAAP loss totaled $12.2 million. Continued GAAP losses and a negative net margin remain risks if growth or demand weakens. Cohu Reports Second Quarter 2026 Results

Wall Street Analysts Forecast Growth

COHU has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Cohu in a research report on Friday, July 17th. Needham & Company LLC lifted their price target on shares of Cohu from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen boosted their price target on shares of Cohu from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Evercore reissued an “outperform” rating and issued a $53.00 price objective on shares of Cohu in a research report on Tuesday, April 28th. Finally, B. Riley Financial raised their price objective on shares of Cohu from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.43.

About Cohu

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.