Cohu (NASDAQ:COHU) Shares Gap Up After Better-Than-Expected Earnings

Cohu, Inc. (NASDAQ:COHU)’s share price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $46.45, but opened at $57.70. Cohu shares last traded at $48.56, with a volume of 439,486 shares trading hands.

The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. The company had revenue of $149.00 million during the quarter, compared to analysts’ expectations of $144.20 million. Cohu had a negative net margin of 11.54% and a negative return on equity of 3.50%. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 EPS.

Trending Headlines about Cohu

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

A number of brokerages have weighed in on COHU. B. Riley Financial raised their price objective on Cohu from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Zacks Research raised Cohu from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Jefferies Financial Group reiterated a “buy” rating and set a $74.00 target price on shares of Cohu in a research note on Friday. Robert W. Baird initiated coverage on shares of Cohu in a research report on Wednesday, July 8th. They set an “outperform” rating and a $65.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cohu in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cohu has a consensus rating of “Moderate Buy” and an average price target of $67.43.

Insider Buying and Selling

In other news, CFO Jeffrey D. Jones sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $46.84, for a total transaction of $608,920.00. Following the completion of the transaction, the chief financial officer directly owned 343,792 shares of the company’s stock, valued at approximately $16,103,217.28. This represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven J. Bilodeau sold 10,257 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $44.85, for a total value of $460,026.45. Following the sale, the director owned 52,272 shares in the company, valued at $2,344,399.20. The trade was a 16.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 89,668 shares of company stock valued at $4,210,016 over the last 90 days. 3.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cohu

A number of hedge funds have recently added to or reduced their stakes in COHU. SG Capital Management LLC acquired a new position in shares of Cohu during the fourth quarter valued at $33,174,000. Invesco Ltd. increased its position in Cohu by 478.4% in the 2nd quarter. Invesco Ltd. now owns 1,175,282 shares of the semiconductor company’s stock valued at $22,612,000 after acquiring an additional 972,088 shares during the period. Emerald Advisers LLC bought a new stake in shares of Cohu during the first quarter valued at about $23,887,000. Segall Bryant & Hamill LLC raised its stake in shares of Cohu by 125.5% during the first quarter. Segall Bryant & Hamill LLC now owns 955,344 shares of the semiconductor company’s stock valued at $29,253,000 after purchasing an additional 531,661 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Cohu in the first quarter worth about $14,999,000. 94.67% of the stock is currently owned by institutional investors.

Cohu Stock Up 6.0%

The firm’s fifty day moving average is $56.68 and its two-hundred day moving average is $42.39. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -40.78 and a beta of 1.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.43 and a quick ratio of 5.31.

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.