COHU Stock Analysis: Cohu | NASDAQ
Semiconductor Equipment & Materials | NASDAQ, USA | Market Cap: 2.796m USD | 12M Return: 154.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 94.3M
Qual. Beats: 0
Rev. Trend: -79.1%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Cohu, Inc. (NASDAQ: COHU) is a supplier of semiconductor test equipment and related services, serving semiconductor manufacturers and test subcontractors worldwide. The company operates from its headquarters in San Diego, California, with a presence in the United States, Taiwan, China, Malaysia, the Philippines, Singapore, and other international markets. It sits within the Information Technology sector, specifically the Semiconductor Materials & Equipment sub-industry, and provides capital equipment used in the back-end testing stages of semiconductor production.
The companys product portfolio spans automated test equipment (ATE) for wafer-level and device package testing, test handlers (including pick-and-place, turret, gravity, strip, and film frame systems), thermal subsystems, interface products such as test contactors and probe heads, and inspection/metrology automation systems. It complements this hardware with spare parts, warranty programs, operator training, and consulting services, generating recurring revenue streams beyond initial equipment sales.
Cohu also offers software-based solutions, including its DI-Core data analytics suite for real-time equipment performance monitoring and process control, as well as artificial intelligence-driven process control and analytics tools. The company markets its products through a direct sales force supplemented by independent sales representatives, a hybrid go-to-market model common in the semiconductor capital equipment industry.
The company was incorporated in 1947 and was originally known as Cohu Electronics, Inc. before adopting its current name in 1972. It has been publicly traded since 1986, operating for decades as a long-tenured supplier to the global semiconductor manufacturing ecosystem.
- Automotive and industrial test demand lifts equipment revenue mix
- China revenue concentration exposes tariff and export control risks
- Pricing pressure from Teradyne and Advantest compresses test handler margins
| Net Income: -55.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 4.45 > 1.0 |
| NWC/Revenue: 132.3% < 20% (prev 98.92%; Δ 33.41% < -1%) |
| CFO/TA 0.04 > 3% & CFO 52.2m > Net Income -55.5m |
| Net Debt (-130.4m) to EBITDA (8.87m): -14.69 < 3 |
| Current Ratio: 6.43 > 1.5 & < 3 |
| Outstanding Shares: last quarter (47.0m) vs 12m ago 0.75% < -2% |
| Gross Margin: 36.21% > 18% (prev 41.01%; Δ -4.79% > 0.5%) |
| Asset Turnover: 43.54% > 50% (prev 40.08%; Δ 3.47% > 0%) |
| Interest Coverage Ratio: -12.07 > 6 (EBIT TTM -42.0m / Interest Expense TTM 3.48m) |
| A: 0.52 (Total Current Assets 754.2m - Total Current Liabilities 117.3m) / Total Assets 1.24b |
| B: 0.13 (Retained Earnings 162.4m / Total Assets 1.24b) |
| C: -0.04 (EBIT TTM -42.0m / Avg Total Assets 1.11b) |
| D: 1.65 (Book Value of Equity 769.0m / Total Liabilities 466.0m) |
| Altman-Z'' = 5.29 = AAA |
| DSRI: 0.88 (Receivables 101.5m/93.6m, Revenue 481.3m/391.0m) |
| GMI: 1.13 (GM 41.01% / 36.21%) |
| AQI: 0.73 (AQ_t 0.30 / AQ_t-1 0.42) |
| SGI: 1.23 (Revenue 481.3m / 391.0m) |
| TATA: -0.09 (NI -55.5m - CFO 52.2m) / TA 1.24b) |
| Beneish M = -3.01 (Cap -4..+1) = AA |
As of July 09, 2026, the stock is trading at USD 52.12 with a total of 1,242,127 shares traded. Over the past week, the price has changed by -29.48%, over one month by -0.74%, over three months by +51.51% and over the past year by +154.74%.
Current recommended Stop Loss: 44.50 (which is 14.6% or 1.4 ATR below the current price).
Cohu has received a consensus analysts rating of 4.60. Therefore, it is recommended to buy COHU.
- StrongBuy: 4
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 60.3 | 15.7% |
P/E Forward = 101.0101
P/S = 5.8097
P/B = 3.6373
P/EG = 1.1542
Revenue TTM = 481.3m USD
EBIT TTM = -42.0m USD
EBITDA TTM = 8.87m USD
Long Term Debt = 285.0m USD (from longTermDebt, last quarter)
Short Term Debt = 11.0m USD (from shortTermDebt, last quarter)
Debt = 358.3m USD (from shortLongTermDebtTotal, last quarter) + Leases 31.1m
Net Debt = -130.4m USD (calculated: Debt 358.3m - CCE 488.7m)
Enterprise Value = 2.67b USD (2.80b + Debt 358.3m - CCE 488.7m)
Interest Coverage Ratio = -12.07 (Ebit TTM -42.0m / Interest Expense TTM 3.48m)
EV/FCF = 66.37x (Enterprise Value 2.67b / FCF TTM 40.2m)
FCF Yield = 1.51% (FCF TTM 40.2m / Enterprise Value 2.67b)
FCF Margin = 8.35% (FCF TTM 40.2m / Revenue TTM 481.3m)
Net Margin = -11.54% (Net Income TTM -55.5m / Revenue TTM 481.3m)
Gross Margin = 36.21% ((Revenue TTM 481.3m - Cost of Revenue TTM 307.0m) / Revenue TTM)
Gross Margin QoQ = 40.45% (prev 34.07%)
Tobins Q-Ratio = 2.16 (Enterprise Value 2.67b / Total Assets 1.24b)
Interest Expense / Debt = 0.97% (Interest Expense 3.48m / Debt 358.3m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -33.2m (EBIT -42.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 6.43 (Total Current Assets 754.2m / Total Current Liabilities 117.3m)
Debt / Equity = 0.47 (Debt 358.3m / totalStockholderEquity, last quarter 769.0m)
Debt / EBITDA = -14.69 (Net Debt -130.4m / EBITDA 8.87m)
Debt / FCF = -3.25 (Net Debt -130.4m / FCF TTM 40.2m)
Total Stockholder Equity = 804.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -5.02% (Net Income -55.5m / Total Assets 1.24b)
RoE = -6.91% (Net Income TTM -55.5m / Total Stockholder Equity 804.0m)
RoCE = -3.85% (EBIT -42.0m / Capital Employed (Equity 804.0m + L.T.Debt 285.0m))
RoIC = -3.00% (negative operating profit) (NOPAT -33.2m / Invested Capital 1.10b)
WACC = 12.89% (E(2.80b)/V(3.15b) * Re(14.44%) + D(358.3m)/V(3.15b) * Rd(0.97%) * (1-Tc(0.21)))
Discount Rate = 14.44% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: -33.33 | Cagr: -0.35%
[DCF] Terminal Value 61.28% ; FCFF base≈40.2m ; Y1≈40.3m ; Y5≈42.7m
[DCF] Fair Price = 10.72 (EV 375.3m - Net Debt -130.4m = Equity 505.7m / Shares 47.2m; r=12.89% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.18 | # QB: 0
Revenue Correlation: -79.14 | Revenue CAGR: -17.88% | SUE: 3.33 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.14 | Chg30d=+0.00% | Revisions=-40% | Analysts=7
EPS next Quarter (2026-09-30): EPS=0.22 | Chg30d=+0.00% | Revisions=+0% | Analysts=7
EPS current Year (2026-12-31): EPS=0.58 | Chg30d=+0.00% | Revisions=-25% | GrowthEPS=+364.3% | GrowthRev=+23.3%
EPS next Year (2027-12-31): EPS=1.48 | Chg30d=+1.48% | Revisions=+0% | GrowthEPS=+154.3% | GrowthRev=+22.2%
[Analyst] Revisions Ratio: -38% (up=1, down=4)