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COHU

Cohu NasdaqGS:COHU Stock Report

Last Price

US$27.75

Market Cap

US$1.3b

7D

3.2%

1Y

-23.3%

Updated

30 Jun, 2022

Data

Company Financials +
COHU fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance4/6
Financial Health5/6
Dividends0/6

COHU Stock Overview

Cohu, Inc., through its subsidiaries, provides semiconductor test equipment and services in China, the United States, Taiwan, Malaysia, the Philippines, and internationally.

Cohu Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Cohu
Historical stock prices
Current Share PriceUS$27.75
52 Week HighUS$39.86
52 Week LowUS$25.06
Beta1.66
1 Month Change-8.81%
3 Month Change-3.28%
1 Year Change-23.32%
3 Year Change77.89%
5 Year Change76.86%
Change since IPO2,176.92%

Recent News & Updates

May 25
We Think Cohu (NASDAQ:COHU) Can Manage Its Debt With Ease

We Think Cohu (NASDAQ:COHU) Can Manage Its Debt With Ease

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Apr 28
Is It Too Late To Consider Buying Cohu, Inc. (NASDAQ:COHU)?

Is It Too Late To Consider Buying Cohu, Inc. (NASDAQ:COHU)?

Cohu, Inc. ( NASDAQ:COHU ), might not be a large cap stock, but it received a lot of attention from a substantial price...

Shareholder Returns

COHUUS SemiconductorUS Market
7D3.2%-2.2%-0.6%
1Y-23.3%-20.9%-21.7%

Return vs Industry: COHU underperformed the US Semiconductor industry which returned -21% over the past year.

Return vs Market: COHU underperformed the US Market which returned -20.8% over the past year.

Price Volatility

Is COHU's price volatile compared to industry and market?
COHU volatility
COHU Average Weekly Movement7.4%
Semiconductor Industry Average Movement8.4%
Market Average Movement8.0%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.2%

Stable Share Price: COHU is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: COHU's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19473,075Luis Mullerhttps://www.cohu.com

Cohu, Inc., through its subsidiaries, provides semiconductor test equipment and services in China, the United States, Taiwan, Malaysia, the Philippines, and internationally. The company supplies semiconductor test and inspection handlers, micro-electromechanical system (MEMS) test modules, test contactors, thermal sub-systems, and semiconductor automated test equipment for semiconductor and electronics manufacturers, and test subcontractors. It also provides semiconductor automated test equipment for wafer level and device package testing; various test handlers, including pick-and-place, turret, gravity, strip, and MEMS 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.

Cohu Fundamentals Summary

How do Cohu's earnings and revenue compare to its market cap?
COHU fundamental statistics
Market CapUS$1.35b
Earnings (TTM)US$161.29m
Revenue (TTM)US$859.48m

8.4x

P/E Ratio

1.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
COHU income statement (TTM)
RevenueUS$859.48m
Cost of RevenueUS$484.13m
Gross ProfitUS$375.35m
Other ExpensesUS$214.07m
EarningsUS$161.29m

Last Reported Earnings

Mar 26, 2022

Next Earnings Date

n/a

Earnings per share (EPS)3.32
Gross Margin43.67%
Net Profit Margin18.77%
Debt/Equity Ratio12.2%

How did COHU perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is COHU undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for COHU?

Other financial metrics that can be useful for relative valuation.

COHU key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.3x
Enterprise Value/EBITDA6.6x
PEG Ratio-0.7x

Price to Earnings Ratio vs Peers

How does COHU's PE Ratio compare to its peers?

COHU PE Ratio vs Peers
The above table shows the PE ratio for COHU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average14x
UCTT Ultra Clean Holdings
11x27.3%US$1.3b
PLAB Photronics
13.7x23.7%US$1.2b
CAMT Camtek
16.7x9.3%US$1.1b
ACLS Axcelis Technologies
14.6x13.4%US$1.8b
COHU Cohu
8.4x-11.2%US$1.3b

Price-To-Earnings vs Peers: COHU is good value based on its Price-To-Earnings Ratio (8.4x) compared to the peer average (14x).


Price to Earnings Ratio vs Industry

How does COHU's PE Ratio compare vs other companies in the US Semiconductor Industry?

Price-To-Earnings vs Industry: COHU is good value based on its Price-To-Earnings Ratio (8.4x) compared to the US Semiconductor industry average (17.4x)


Price to Earnings Ratio vs Fair Ratio

What is COHU's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

COHU PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.4x
Fair PE Ratio11x

Price-To-Earnings vs Fair Ratio: COHU is good value based on its Price-To-Earnings Ratio (8.4x) compared to the estimated Fair Price-To-Earnings Ratio (11x).


Share Price vs Fair Value

What is the Fair Price of COHU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: COHU ($27.75) is trading below our estimate of fair value ($115.96)

Significantly Below Fair Value: COHU is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: COHU's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


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Future Growth

How is Cohu forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-11.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: COHU's earnings are forecast to decline over the next 3 years (-11.2% per year).

Earnings vs Market: COHU's earnings are forecast to decline over the next 3 years (-11.2% per year).

High Growth Earnings: COHU's earnings are forecast to decline over the next 3 years.

Revenue vs Market: COHU's revenue (3.3% per year) is forecast to grow slower than the US market (8.3% per year).

High Growth Revenue: COHU's revenue (3.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if COHU's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Cohu performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


31.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: COHU has a large one-off gain of $68.6M impacting its March 26 2022 financial results.

Growing Profit Margin: COHU's current net profit margins (18.8%) are higher than last year (4.2%).


Past Earnings Growth Analysis

Earnings Trend: COHU's earnings have grown significantly by 31.2% per year over the past 5 years.

Accelerating Growth: COHU's earnings growth over the past year (427.3%) exceeds its 5-year average (31.2% per year).

Earnings vs Industry: COHU earnings growth over the past year (427.3%) exceeded the Semiconductor industry 70.4%.


Return on Equity

High ROE: COHU's Return on Equity (18.2%) is considered low.


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Financial Health

How is Cohu's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: COHU's short term assets ($752.2M) exceed its short term liabilities ($176.5M).

Long Term Liabilities: COHU's short term assets ($752.2M) exceed its long term liabilities ($180.0M).


Debt to Equity History and Analysis

Debt Level: COHU has more cash than its total debt.

Reducing Debt: COHU's debt to equity ratio has increased from 4.2% to 12.2% over the past 5 years.

Debt Coverage: COHU's debt is well covered by operating cash flow (86.4%).

Interest Coverage: COHU's interest payments on its debt are well covered by EBIT (27.3x coverage).


Balance Sheet


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Dividend

What is Cohu current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate COHU's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate COHU's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if COHU's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if COHU's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: COHU is not paying a notable dividend for the US market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as COHU has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

6.3yrs

Average management tenure


CEO

Luis Muller (51 yo)

7.5yrs

Tenure

US$4,582,416

Compensation

Dr. Luis A. Muller has been an Independent Director of Celestica Inc. since August 31, 2021. He has been the Chief Executive Officer and President of Cohu, Inc. since December 28, 2014. Prior to joining Co...


CEO Compensation Analysis

Compensation vs Market: Luis's total compensation ($USD4.58M) is about average for companies of similar size in the US market ($USD5.57M).

Compensation vs Earnings: Luis's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: COHU's management team is seasoned and experienced (6.3 years average tenure).


Board Members

Experienced Board: COHU's board of directors are considered experienced (7.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: COHU insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Cohu, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Cohu, Inc.
  • Ticker: COHU
  • Exchange: NasdaqGS
  • Founded: 1947
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Implied Market Cap: US$1.350b
  • Shares outstanding: 48.63m
  • Website: https://www.cohu.com

Number of Employees


Location

  • Cohu, Inc.
  • 12367 Crosthwaite Circle
  • Poway
  • California
  • 92064-6817
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/30 00:00
Earnings2022/03/26
Annual Earnings2021/12/25


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.