Cohu expects third-quarter sales to be $170 mln +/- $7 mln
Company raises FY26 high-performance computing revenue estimate to $100 mln-$110 mln
Cohu increases annual AI-driven compute opportunity pipeline to approx. $850 mln
Overview
Semiconductor test equipment maker's fiscal Q2 sales rose 38% yr/yr, beating analyst expectations
Non-GAAP net income for fiscal Q2 was $14.1 mln, or $0.26 per share
Company cites broad-based end-market improvement and AI compute demand for revenue growth
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the semiconductor equipment & testing peer group is "buy"
Wall Street's median 12-month price target for Cohu Inc is $65.00, about 65.2% above its July 29 closing price of $39.34
The stock recently traded at 36 times the next 12-month earnings vs. a P/E of 44 three months ago
Result drivers and key details
- Co said Q2 sales growth reflected broad-based improvement across end markets
AI COMPUTE DEMAND - Co cited accelerating customer momentum in AI compute, driven by adoption of Eclipse test handler for high-power processors in data centers
TEST CELL UTILIZATION - Estimated test cell utilization increased sequentially to 80% at the end of June
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