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Cohu Inc(COHU)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL RECENCY
3-STAR RATING
STRONG BUY
BUY for 3 days
PROFIT SINCE LAST BUY
+3.91% ▲
LAST CLOSE
$67
09/25/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for COHU

09/25/2026: COHU (3-star) is a STRONG-BUY. BUY for 3 days. Simulated Profits (3.91%). Updated daily EoD!

Cohu Inc is a specialized provider of semiconductor test and inspection equipment, primarily serving the backend of the manufacturing process. The company is well-positioned in the automotive and industrial chip markets, benefiting from the rising complexity of modern semiconductor packaging. Its investment story centers on the integration of testing and inspection solutions to improve manufacturing yields. However, investors must consider that Cohu is highly sensitive to the cyclical nature of semiconductor capital expenditures and faces intense competition from larger equipment manufacturers. The stock may best suit investors looking for targeted exposure to the chip manufacturing equipment cycle who are comfortable with the inherent volatility of the semiconductor industry.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company offers growth potential tied to semiconductor complexity but is subject to cyclical industry volatility.
Momentum investorMixed fitThis style is conditional on a positive Upturn signal in the broader semiconductor equipment sector.
Value investorMixed fitValuation fluctuates significantly with industry cycles, requiring careful entry timing.
Dividend investorWeak fitCohu does not currently emphasize dividend payouts to shareholders.
Low-risk investorWeak fitThe company's sensitivity to semiconductor cycles creates higher-than-average price volatility.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighThe stock's beta is typically high, mirroring the cyclical swings of the semiconductor capital equipment sector.
Valuation riskMediumValuation often tracks forward-looking industry sentiment, which can lead to rapid pricing adjustments.
Competition risk (AI/Advanced packaging)HighLarger competitors with greater R&D budgets pose a constant threat to market share in advanced technologies.
Business qualityMediumWhile the core business is specialized, the cyclicality of the end market limits long-term revenue predictability.
Dividend incomeLow / noneInvestors should not rely on this stock for consistent income generation.
Execution riskMediumSuccessful integration of acquired technologies and effective R&D management are crucial for maintaining market positioning.

Price Behavior

Strong Uptrend
PRICE PATH

Strong Uptrend

The stock has maintained a strong upward price trend across the last three quarters.

Highly Choppy
PRICE STABILITY

Highly Choppy

The stock has experienced frequent, large price swings that make its near-term movement less predictable.

Analysis of Past Performance

Type Stock
Historic Profit 59.22%
Avg. Invested days 37
Today’s Advisory Strong Buy
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
COHU receives a 3-star rating, supported by solid company fundamentals, and solid analyst coverage. The rating is constrained by weak unit economics, and limited analyst upside.

Company Fundamentals

★★★★★
COHU has solid overall fundamentals (4 stars), with moderate financial health, solid growth momentum, and solid ownership. In FY2025 versus FY2024, solid revenue growth (+12.7%) is partially offset by negative earnings growth (-6.4%), soft cash generation (FCF margin 2.4%), soft profitability (net margin -16.4%).

Financial Health Rating

★★★★★
COHU's financial health is supported by solid liquidity, including working-capital and asset support (WC/assets 51.6%). Profitability is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Free-cash-flow growth is COHU's strongest growth driver at +236.6% FY2025 versus FY2024 (strong, 5 stars). By comparison, revenue growth (+12.7%, solid) is also solid, while earnings growth (-6.4%, negative) holds the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 116.5% and approximately 97.5% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 2.81% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 15.44%
Capital World Investors 5.82%
Vanguard Portfolio Management, LLC 4.31%
Royce & Associates, LP 4.28%
Vanguard Capital Management, LLC 4.16%

Unit Economics (Per $1K Revenue)

★★★★★
COHU generates approximately $345 of gross profit, $-133 of operating income, and $24 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: -19.01% (Tax Credit)

Quantitative Style Profile

★★★★★
COHU has a liquid profile. Valuation that is moderately attractive rather than deeply discounted is the primary drawback, while elevated volatility.

Style Classification

Quality Focused

High VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 3.17B USD
Price to earnings Ratio -
1Y Target Price 70.88
Price to earnings Ratio -
1Y Target Price 70.88
Volume (30-day avg) 975.7K shares
Beta 1.59
52 Weeks Range 18.67 - 74.60
Updated Date 09/27/2026
52 Weeks Range 18.67 - 74.60
Updated Date 09/27/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.83

How Company Makes Money

Business areaWhat it includesRetail investor read
Semiconductor Test EquipmentTest handlers and interface products for automotive and mobility chips.The company makes money by providing the machines that test and ensure the quality of microchips before they are used in products.
Inspection and MetrologyAutomated vision systems for advanced semiconductor packaging.Revenue is generated by selling high-precision vision equipment that checks for defects in modern, complex chip packages.
GeographySales across Asia, Americas, and Europe.The business is highly globalized, with significant revenue tied to manufacturing hubs in Asia.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE 33.67
Enterprise Value 2.88B
Price to Sales(TTM) 6.07
Enterprise Value 2.88B
Price to Sales(TTM) 6.07
Enterprise Value to Revenue 5.51
Enterprise Value to EBITDA 135.15
Shares Outstanding 47.34M
Shares Floating 46.17M
Shares Outstanding 47.34M
Shares Floating 46.17M
Percent Insiders 2.81
Percent Institutions 116.53

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI Summary

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Cohu Inc

Exchange NASDAQ
Headquarters San Diego, CA, United States
IPO Launch date 1986-11-12
President, CEO & Director Dr. Luis Antonio Müller Ph.D.
Sector Technology
Industry Semiconductor Equipment & Materials
Full time employees 2777
Full time employees 2777

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. In addition, it offers data analytics product that includes DI-Core, a software suite used to optimize Cohu equipment performance, which provides real-time online performance monitoring and process control. Further, the company provides artificial intelligence process control and analytics-based monitoring software. It markets its products through direct sales force and independent sales representatives. The company was formerly known as Cohu Electronics, Inc. and changed its name to Cohu, Inc. in 1972. Cohu, Inc. was incorporated in 1947 and is headquartered in San Diego, California.