Cohu, Inc. (COHU) Stock

Cohu, Inc. (COHU) is a Technology stock trading at $54.09 (as of 2026-08-20), with a market capitalization of $2.56B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Cohu, Inc., through subsidiaries, provides semiconductor test equipment and related services, including automated test equipment and test/inspection handlers, thermal sub-systems, interface products, spares, warranties, training, and maintenance support, with offerings that also include software for monitoring and optimizing equipment performance. It sells to semiconductor and electronics manufacturers and test subcontractors across China, the United States, Taiwan, Malaysia, the Philippines, and internationally.

Understand Cohu, Inc.: how it makes money

Cohu provides semiconductor test and inspection equipment and related services, selling automated test equipment, handlers, and test modules to semiconductor and electronics manufacturers and test subcontractors.

Cohu's profit model is driven by winning new semiconductor test programs (design wins) and monetizing an installed base through ongoing service contracts, with service renewals (92.0 percent) and utilization metrics (for test cells and serialization) reflecting how actively customer production is running.

Business quality (Weak): Strong visibility into the installed base and service renewals, but profitability is currently weak (operating margin -8.9) and a clean reportable segment revenue breakdown is not available from the provided facts.

Bull case

  • Service contract stickiness: Annual Renewal Rate on Service Contracts is 92.0 percent, supporting ongoing service activity alongside equipment sales.
  • Installed base scale: Active Install Base Systems total 24,600, which can provide a base for recurring service and future upgrades.
  • New program momentum: Design Win Order Value is USD_B 0.03, indicating continued customer testing program wins.

Bear case

  • Currently unprofitable operations: Operating margin is -8.9 for the latest reported period, indicating losses at the operating level.
  • Demand linked to utilization: Semiconductor Equipment Utilization is 71.0 percent, and multiple test utilization and serialization metrics are tracked, implying revenue and service usage can fluctuate with customer production intensity.
Valuation — source: SEC EDGAR (first-party)
Price$54.09
Market Cap$2.56B
EV / EBITDA295.9
Price / Book3.31
Price / Sales4.90
FCF Yield1.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$452.96M
Net Margin-16.4%
Revenue Growth (YoY)38.4%
EPS Growth (YoY)-100.0%
FCF Growth (YoY)-39.2%
Financial Health — source: SEC EDGAR
Altman Z-Score4.32 (safe)
Valuation vs Sector & Industry
Sector P/E (Technology)33.9
Industry P/E (Measuring & Control Equipment)51.8
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($223.87M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryMeasuring & Control Equipment
CEOLuis Antonio Müller
Employees2,986
CountryUS
IPO Date1980-03-17

Related Companies (Business model: Industrials / Capital Goods (Heavy Machinery + Diversified Industrials); 8 closest by market cap; US-domiciled)

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COHU earnings history · COHU institutional & insider holders · COHU KPIs & operating metrics · COHU financials · COHU investor presentations & press releases · COHU SEC filings · COHU peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.