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COHU

CohuNasdaqGS:COHU Stock Report

Market Cap

US$1.6b

7D

2.8%

1Y

89.8%

Updated

27 Sep, 2021

Data

Company Financials +
COHU fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance2/6
Financial Health5/6
Dividends0/6

COHU Overview

Cohu, Inc., through its subsidiaries, engages in the semiconductor test and inspection equipment, and printed circuit board (PCB) test equipment businesses 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$33.41
52 Week HighUS$16.97
52 Week LowUS$51.86
Beta1.77
1 Month Change-5.27%
3 Month Change-8.67%
1 Year Change89.83%
3 Year Change32.58%
5 Year Change190.78%
Change since IPO2,641.33%

Recent News & Updates

Sep 26

Cohu: Preparing For Another Launch At Multi-Year Resistance

Financial trends point to another launch at the firm´s 2000 highs. If shares can break through, the resulting gains should be spectacular. Balance sheet, valuation, margins, and cost improvements all point to a rising share price here.

Sep 21
Cohu (NASDAQ:COHU) Seems To Use Debt Quite Sensibly

Cohu (NASDAQ:COHU) Seems To Use Debt Quite Sensibly

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Aug 25
Is Now The Time To Look At Buying Cohu, Inc. (NASDAQ:COHU)?

Is Now The Time To Look At Buying Cohu, Inc. (NASDAQ:COHU)?

Cohu, Inc. ( NASDAQ:COHU ), is not the largest company out there, but it received a lot of attention from a substantial...

Shareholder Returns

COHUUS SemiconductorUS Market
7D2.8%3.4%2.0%
1Y89.8%49.5%32.8%

Return vs Industry: COHU exceeded the US Semiconductor industry which returned 49.5% over the past year.

Return vs Market: COHU exceeded the US Market which returned 32.8% over the past year.

Price Volatility

Is COHU's price volatile compared to industry and market?
COHU volatility
COHU Beta1.77
Industry Beta1.23
Market Beta1

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
19473,150Luis Mullerhttps://www.cohu.com

Cohu, Inc., through its subsidiaries, engages in the semiconductor test and inspection equipment, and printed circuit board (PCB) test equipment businesses in China, the United States, Taiwan, Malaysia, the Philippines, and internationally. It supplies semiconductor test and inspection handlers, micro-electromechanical system (MEMS) test modules, test contactors, thermal sub-systems, semiconductor automated test equipment, and bare board PCB test systems for semiconductor and electronics manufacturers, and test subcontractors. The company 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; bare board PCB test systems to test pre-assembly PCBs; various parts and labor warranties on test and handling systems, and instruments; and training on the maintenance and operation of its systems.

Cohu Fundamentals Summary

How do Cohu's earnings and revenue compare to its market cap?
COHU fundamental statistics
Market CapUS$1.62b
Earnings (TTM)US$130.92m
Revenue (TTM)US$823.29m

12.4x

P/E Ratio

2.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
COHU income statement (TTM)
RevenueUS$823.29m
Cost of RevenueUS$456.94m
Gross ProfitUS$366.35m
ExpensesUS$235.43m
EarningsUS$130.92m

Last Reported Earnings

Jun 26, 2021

Next Earnings Date

n/a

Earnings per share (EPS)2.69
Gross Margin44.50%
Net Profit Margin15.90%
Debt/Equity Ratio25.6%

How did COHU perform over the long term?

See historical performance and comparison

Valuation

Is Cohu undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: COHU ($33.41) is trading below our estimate of fair value ($139.16)

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


Price To Earnings Ratio

PE vs Industry: COHU is good value based on its PE Ratio (12.4x) compared to the US Semiconductor industry average (30.8x).

PE vs Market: COHU is good value based on its PE Ratio (12.4x) compared to the US market (18.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: COHU is good value based on its PB Ratio (1.9x) compared to the US Semiconductor industry average (4.6x).


Future Growth

How is Cohu forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

-7.9%

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 (-7.9% per year).

Earnings vs Market: COHU's earnings are forecast to decline over the next 3 years (-7.9% per year).

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

Revenue vs Market: COHU's revenue (1.7% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: COHU's revenue (1.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: COHU's Return on Equity is forecast to be low in 3 years time (15.1%).


Past Performance

How has Cohu performed over the past 5 years?

-13.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: COHU has a large one-off gain of $57.9M impacting its June 26 2021 financial results.

Growing Profit Margin: COHU became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: COHU has become profitable over the past 5 years, growing earnings by -13.1% per year.

Accelerating Growth: COHU has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: COHU has become profitable in the last year, making it difficult to compare its past year earnings growth to the Semiconductor industry (70.6%).


Return on Equity

High ROE: COHU's Return on Equity (15.4%) is considered low.


Financial Health

How is Cohu's financial position?


Financial Position Analysis

Short Term Liabilities: COHU's short term assets ($826.6M) exceed its short term liabilities ($321.3M).

Long Term Liabilities: COHU's short term assets ($826.6M) exceed its long term liabilities ($200.2M).


Debt to Equity History and Analysis

Debt Level: COHU's debt to equity ratio (25.6%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if COHU's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: COHU's debt is well covered by operating cash flow (33.2%).

Interest Coverage: COHU's interest payments on its debt are well covered by EBIT (10.7x coverage).


Balance Sheet


Dividend

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


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.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of COHU's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

4.3yrs

Average management tenure


CEO

Luis Muller (51 yo)

6.75yrs

Tenure

US$3,315,895

Compensation

Dr. Luis A. Muller has been a 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 Cohu, Dr. Mulle...


CEO Compensation Analysis

Compensation vs Market: Luis's total compensation ($USD3.32M) is about average for companies of similar size in the US market ($USD3.66M).

Compensation vs Earnings: Luis's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: COHU's management team is considered experienced (4.3 years average tenure).


Board Members

Experienced Board: COHU's board of directors are considered experienced (5 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: COHU insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.1%.


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
  • Market Cap: US$1.624b
  • Shares outstanding: 48.60m
  • 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 Analysis2021/09/27 22:55
End of Day Share Price2021/09/27 00:00
Earnings2021/06/26
Annual Earnings2020/12/26


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.