Cohu Q1 sales rise 29%, beat estimates despite $12.1 mln GAAP net loss

Overview

• US semiconductor equipment supplier's Q1 sales rose, beating analyst expectations

• Company posted GAAP net loss of $12.1 mln, or $0.26 per share, for Q1

• Raised FY26 high-performance computing revenue outlook, citing AI-driven demand

Outlook

• Cohu expects Q2 2026 sales of $144 mln, plus or minus $7 mln

• Company raises FY26 high-performance computing revenue outlook to $80-100 mln

• Cohu increases AI-driven compute addressable market estimate to ~$750 mln

Result Drivers

• AI AND HPC DEMAND - Co said accelerating demand for AI and high-performance computing drove Q1 sales growth

• RECURRING REVENUE - Co reported about 60% of Q1 net sales were recurring

• SOFTWARE ADOPTION - Co said broader deployment of its analytics software deepened customer adoption and expanded recurring revenue opportunity

Company press release: ID:nBw8K4rSFa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "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 $35.00, about 21.7% below its April 29 closing price of $44.71

• The stock recently traded at 59 times the next 12-month earnings vs. a P/E of 38 three months ago

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