COHU Stock Analysis: Cohu | NASDAQ

Semiconductor Test, Inspection Systems, Test Handlers, Analytics Software

Total Rating 70

Safety 81

Buy Signal 2.09

Semiconductor Equipment & Materials
Industry Rotation: +18.5

Market Cap: 2.40B
Avg Turnover: 45.4M

Risk 3d forecast

Volatility86.9%

VaR 5^th Pctl15.7%

VaR vs Median9.84%

Reward TTM

Sharpe Ratio1.70

Rel. Str. IBD96.5

Rel. Str. Peer Group82.4

Character TTM

Beta2.802

Beta Downside2.033

Hurst Exponent0.472

Drawdowns 3y

Max DD63.36%

CAGR/Max DD0.24

CAGR/Mean DD0.60

EPS (Earnings per Share)

Last SUE: 0.79
Qual. Beats: 0

Revenue

Rev. CAGR: -10.99%
Rev. Trend: -56.3%

Last SUE: 3.71
Qual. Beats: 2

Warnings

Interest Coverage Ratio Critical

Tailwinds

Rs Leader

Idiosyncratic Leader

Confidence

Tailwind

Pullback Swing

Avwap Ph Week

Seasonality 11.6 years of data

Jan -0.9% 7

Feb -1.1% 29

Mar -1.1% 8

Apr -2.4% 27

May +2.6% 23

Jun +0.9% 10

Jul -0.3% 7

Aug -1.6% 14

Sep -1.4% 2

Oct -0.2% 0

Nov +4.4% 42

Dec +4.7% 15

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.

Description: COHU Cohu

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.

Headlines to Watch Out For

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

Piotroski VR-10 (Strict) 4.5

Net Income: -38.8m TTM > 0 and > 6% of Revenue
FCF/TA: 0.03 > 0.02 and ΔFCF/TA 2.52 > 1.0
NWC/Revenue: 124.6% < 20% (prev 99.11%; Δ 25.51% < -1%)
CFO/TA 0.04 > 3% & CFO 46.6m > Net Income -38.8m
Net Debt (-140.5m) to EBITDA (22.7m): -6.18 < 3
Current Ratio: 5.74 > 1.5 & < 3
Outstanding Shares: last quarter (47.3m) vs 12m ago 1.43% < -2%
Gross Margin: 39.20% > 18% (prev 38.19%; Δ 1.01% > 0.5%)
Asset Turnover: 46.07% > 50% (prev 39.00%; Δ 7.08% > 0%)
Interest Coverage Ratio: -4.76 > 6 (EBIT TTM -23.7m / Interest Expense TTM 4.97m)

Altman Z'' 5.36

A: 0.52 (Total Current Assets 788.6m - Total Current Liabilities 137.4m) / Total Assets 1.26b
B: 0.13 (Retained Earnings 162.2m / Total Assets 1.26b)
C: -0.02 (EBIT TTM -23.7m / Avg Total Assets 1.13b)
D: 1.60 (Book Value of Equity 774.6m / Total Liabilities 483.8m)
Altman-Z'' = 5.36 = AAA

Beneish M -2.97

DSRI: 1.02 (Receivables 122.7m/90.8m, Revenue 522.6m/393.9m)
GMI: 0.97 (GM 38.19% / 39.20%)
AQI: 0.72 (AQ_t 0.29 / AQ_t-1 0.41)
SGI: 1.33 (Revenue 522.6m / 393.9m)
TATA: -0.07 (NI -38.8m - CFO 46.6m) / TA 1.26b)
Beneish M = -2.97 (Cap -4..+1) = A

What is the price of COHU shares?

As of September 09, 2026, the stock is trading at USD 53.17 with a total of 856,123 shares traded. Over the past week, the price has changed by +15.34%, over one month by +7.48%, over three months by +1.26% and over the past year by +158.73%.

Current recommended Stop Loss: 46.40 (which is 12.7% or 1.8 ATR below the current price).

Is COHU a buy, sell or hold?

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

What are the forecasts/targets for the COHU price?

Analysts Target Price	70.9	33.3%

Cohu (COHU) - Fundamental Data Overview as of 08 September 2026

Market Cap USD = 2.40b (2.40b USD * 1.0 USD.USD)
P/E Forward = 23.9808
P/S = 4.5943
P/B = 2.8088
P/EG = 1.1542
Revenue TTM = 522.6m USD
EBIT TTM = -23.7m USD
EBITDA TTM = 22.7m USD
Long Term Debt = 285.0m USD (from longTermDebt, last quarter)
Short Term Debt = 11.2m USD (from shortTermDebt, last quarter)
Debt = 357.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 30.7m
Net Debt = -140.5m USD (calculated: Debt 357.7m - CCE 498.2m)
Enterprise Value = 2.26b USD (2.40b + Debt 357.7m - CCE 498.2m)
Interest Coverage Ratio = -4.76 (Ebit TTM -23.7m / Interest Expense TTM 4.97m)
EV/FCF = 64.74x (Enterprise Value 2.26b / FCF TTM 34.9m)
FCF Yield = 1.54% (FCF TTM 34.9m / Enterprise Value 2.26b)
FCF Margin = 6.68% (FCF TTM 34.9m / Revenue TTM 522.6m)
Net Margin = -7.43% (Net Income TTM -38.8m / Revenue TTM 522.6m)
Gross Margin = 39.20% ((Revenue TTM 522.6m - Cost of Revenue TTM 317.7m) / Revenue TTM)
Gross Margin QoQ = 45.36% (prev 40.45%)
Tobins Q-Ratio = 1.80 (Enterprise Value 2.26b / Total Assets 1.26b)
Interest Expense / Debt = 1.39% (Interest Expense 4.97m / Debt 357.7m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -18.7m (EBIT -23.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 5.74 (Total Current Assets 788.6m / Total Current Liabilities 137.4m)
Debt / Equity = 0.46 (Debt 357.7m / totalStockholderEquity, last quarter 774.6m)
Debt / EBITDA = -6.18 (Net Debt -140.5m / EBITDA 22.7m)
Debt / FCF = -4.02 (Net Debt -140.5m / FCF TTM 34.9m)
Total Stockholder Equity = 790.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.42% (Net Income -38.8m / Total Assets 1.26b)
RoE = -4.91% (Net Income TTM -38.8m / Total Stockholder Equity 790.1m)
RoCE = -2.20% (EBIT -23.7m / Capital Employed (Equity 790.1m + L.T.Debt 285.0m))
RoIC = -1.69% (negative operating profit) (NOPAT -18.7m / Invested Capital 1.11b)
WACC = 13.93% (E(2.40b)/V(2.76b) * Re(15.84%) + D(357.7m)/V(2.76b) * Rd(1.39%) * (1-Tc(0.21)))
Discount Rate = 15.84% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 13.93 | Cagr: 0.18%
[DCF] Terminal Value 62.08% ; FCFF base≈22.0m ; Y1≈25.2m ; Y5≈37.1m
[DCF] Fair Price = 8.87 (EV 279.2m - Net Debt -140.5m = Equity 419.7m / Shares 47.3m; r=13.93% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.79 | # QB: 0
Revenue Correlation: -56.27 | Revenue CAGR: -10.99% | SUE: 3.71 | # QB: 2
EPS current Quarter (2026-09-30): EPS=0.35 | Chg30d=+57.16% | Revisions=+40% | Analysts=8
EPS current Year (2026-12-31): EPS=0.95 | Chg30d=+63.40% | Revisions=+40% | GrowthEPS=+531.8% | GrowthRev=+35.2%
EPS next Year (2027-12-31): EPS=1.85 | Chg30d=+24.87% | Revisions=+0% | GrowthEPS=+94.3% | GrowthRev=+25.7%
[Analyst] Revisions Ratio: +44% (up=5, down=1)