COHU
TechnologyCohu, Inc. · Semiconductors · $2B
What is Cohu, Inc.?
Cohu, Inc. is a small-cap semiconductor test and inspection equipment provider headquartered in Poway, California. The company serves semiconductor manufacturers and test subcontractors across the United States, China, Taiwan, Malaysia, the Philippines, and other international markets.
Cohu designs and supplies equipment that semiconductor manufacturers use to test and inspect chips before they reach end products. Revenue comes from selling test handlers, automated test equipment, interface products, and thermal sub-systems, as well as aftermarket parts, warranties, and software services. The company also offers DI-Core, a data analytics software suite that helps customers monitor equipment performance and improve process control in real time.
Cohu was incorporated in 1947 — originally as Cohu Electronics, Inc. — and is based in Poway, California.
- Semiconductor test handlers — pick-and-place, turret, gravity, and strip types
- Automated test equipment for wafer-level and packaged device testing
- MEMS test modules and thermal sub-systems
- Interface products including test contactors, probe heads, and pins
- DI-Core data analytics software for equipment optimization
Is COHU a Good Stock to Buy?
UQS Score rates COHU as Below Average overall.
The most notable bright spot in Cohu's profile is its Risk pillar, which scores Strong — suggesting the company carries a relatively manageable financial risk profile compared to many small-cap peers. The Growth and Valuation pillars both land at Neutral, meaning neither acts as a significant headwind nor a clear catalyst at current levels.
Both the Quality and Moat pillars register as Weak, pointing to below-average business durability and limited competitive differentiation — areas that matter most for long-term compounding.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does COHU pay dividends?
No — Cohu, Inc. does not currently pay a dividend.
Cohu does not currently pay a dividend. For a capital-intensive equipment business operating in a cyclical industry, retaining cash to fund product development, maintain inventory, and weather semiconductor cycle downturns is a common strategic choice. Income-focused investors should note that COHU is not structured as a yield vehicle.
When does COHU report earnings?
Cohu reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
Semiconductor equipment companies like Cohu tend to see revenue fluctuate with broader chip industry cycles — periods of capacity expansion drive equipment demand, while inventory corrections can pressure results. The Neutral Growth pillar suggests neither strong acceleration nor sharp deterioration in recent trends.
For the most recent quarter's results and guidance, visit Cohu's investor relations page directly.
COHU Price History
+20.6% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Cohu, Inc.?
Based on Cohu, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
COHU Long-term Outlook
Cohu's fundamental outlook reflects the mixed signals visible in its UQS pillar profile. The Neutral Growth label indicates the business is not in a high-expansion phase, though it is not in freefall either. The Strong Risk pillar provides some reassurance that the balance sheet can absorb the volatility typical of semiconductor equipment cycles. Weak Quality and Moat scores, however, suggest the company may struggle to sustain above-average returns through a full cycle without meaningful competitive differentiation.
Growth drivers
- Recovery in global semiconductor capital expenditure as chip inventory normalizes
- Expanding demand for MEMS and advanced packaging test solutions
- DI-Core software adoption adding recurring, higher-margin revenue streams
Key risks
- Cyclical semiconductor equipment spending that can compress revenue sharply
- Weak moat leaves Cohu exposed to pricing pressure from larger, better-resourced rivals
- Geographic concentration in Asia-Pacific markets introduces geopolitical and trade risk
COHU vs Peers
Cohu operates in a competitive corner of the semiconductor supply chain alongside companies that address overlapping but distinct parts of the chip ecosystem.
Himax focuses on display driver ICs and timing controllers rather than test equipment, making it a chip designer rather than a test-and-inspection solutions provider.
MaxLinear designs mixed-signal semiconductors for broadband and data infrastructure, competing for investor attention in the small-cap chip space rather than in test equipment.
Ichor supplies gas and chemical delivery subsystems for semiconductor fabrication equipment, sitting upstream of the test phase where Cohu operates.
Frequently Asked Questions
What does Cohu do?
Cohu supplies semiconductor test and inspection equipment — including test handlers, automated test systems, MEMS modules, and interface products — to chip manufacturers and test subcontractors worldwide. The company also provides software, spare parts, and consulting services to support its installed equipment base.
Does COHU pay dividends?
Cohu does not currently pay a dividend. The company retains capital to support operations and product development in a cyclical, capital-intensive industry. Investors seeking regular income should factor this into their assessment.
When does COHU report earnings?
Cohu follows a standard quarterly earnings cadence for US-listed companies. Specific dates are not covered by our data source — check Cohu's investor relations page or a financial calendar service for the next scheduled report.
Is COHU a good stock to buy?
UQS Score rates COHU as Below Average, driven by Weak Quality and Moat scores despite a Strong Risk profile. Whether that profile suits a particular investor depends on their own goals and risk tolerance. The full pillar breakdown is available to UQS Pro members.
Is COHU overvalued?
The UQS Valuation pillar for COHU is rated Neutral, suggesting the stock is neither clearly cheap nor obviously expensive relative to its fundamentals at the time of scoring. Valuation can shift quickly in cyclical equipment names — view the complete analysis on UQS Pro for current detail.
How does COHU compare to its competitors?
Cohu occupies a specialized niche in semiconductor test handling and inspection. Peers like Ichor Holdings focus on fabrication subsystems, while Himax and MaxLinear are chip designers rather than equipment providers. Each operates in a different part of the semiconductor value chain, making direct comparison nuanced.
What is COHU's market cap bracket?
Cohu is classified as a small-cap company. Small-cap stocks in the semiconductor equipment space can offer growth exposure but typically carry higher volatility and liquidity risk than large- or mega-cap peers.
Who founded Cohu?
Cohu was originally incorporated in 1947 as Cohu Electronics, Inc. and changed its name to Cohu, Inc. in 1972. Detailed founding history, including key individuals, is publicly available through the company's official filings and corporate history resources.
Is COHU a long-term quality indicator?
From a long-term quality perspective, Cohu's Weak Moat and Weak Quality pillar scores are meaningful cautions. A durable long-term compounder typically needs a defensible competitive position — something the current UQS profile suggests Cohu has yet to establish convincingly. The Strong Risk score is a partial offset.
What is the main competitive advantage of Cohu?
Cohu's installed base of test handlers and its DI-Core software platform create some switching costs for existing customers, but the UQS Moat pillar rates this advantage as Weak overall. The company competes in a fragmented market where larger rivals have greater scale and R&D resources.
What sector does COHU belong to?
Cohu operates in the Technology sector, specifically within semiconductor equipment and services. It sits in the supply chain that supports chip manufacturers rather than designing or fabricating semiconductors itself.
Is COHU a growth stock or value stock?
Based on UQS pillar labels, COHU carries a Neutral Growth rating and a Neutral Valuation rating — placing it in neither a clear growth nor a deep-value category. It is best described as a cyclical equipment name whose investment case depends heavily on the semiconductor spending cycle.
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Pro Analysis
COHU — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 23, 2026 | 28.5 | 6.5 | 19.0 | 50.7 | 45.3 | 34.4 | 0.0 |
| May 22, 2026 | 28.5 | 6.5 | 19.0 | 50.7 | 45.3 | 34.6 | 0.0 |
| May 21, 2026 | 28.5 | 6.5 | 19.0 | 50.7 | 45.3 | 34.7 | -0.1 |
| May 20, 2026 | 28.6 | 6.5 | 19.0 | 50.7 | 45.3 | 35.2 | +0.1 |
| May 19, 2026 | 28.5 | 6.5 | 19.0 | 50.7 | 45.3 | 34.9 | +0.1 |
| May 16, 2026 | 28.4 | 6.5 | 19.0 | 50.7 | 45.3 | 34.3 | 0.0 |
| May 13, 2026 | 28.4 | 6.5 | 19.0 | 50.7 | 45.3 | 33.9 | +0.1 |
| May 12, 2026 | 28.3 | 6.5 | 19.0 | 50.7 | 45.3 | 33.5 | -0.1 |
| May 11, 2026 | 28.4 | 6.5 | 19.0 | 50.7 | 45.3 | 33.8 | -6.0 |
| May 4, 2026 | 34.4 | 4.1 | 19.0 | 50.7 | 80.1 | 43.2 | +1.7 |
COHU — Pillar Breakdown
Quality
— 6.5/100 (25%)Cohu, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 50.7/100 (20%)Cohu, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 45.3/100 (15%)Cohu, Inc. has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 34.4/100 (15%)Cohu, Inc. appears expensively valued relative to its fundamentals and growth prospects.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 19/100 (25%)Cohu, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for COHU.
Score Composition
Financial Data
More Stock Analysis
How is the COHU UQS Score Calculated?
The UQS (Unified Quality Score) for Cohu, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Cohu, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Cohu, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.