Cohu drops after $200 mln convertible bonds sale unveil

ReutersSep 23, 2025 8:18 PM

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Shares of semiconductor testing firm Cohu Inc COHU.O down 8.7% at $20.80 in extended trading after planned capital raise news

Poway, California-based Cohu announces private offering of $200 convertible bonds due 2031

Co plans to use net offering proceeds for general corp purposes

It also intends to use a portion of proceeds to pay cost of capped calls, derivative transactions employed to help reduce potential dilution

With ~46.7 mln shares outstanding, co has about $1.1 bln market cap

COHU shares on Tues ended down 1.6% at $22.78, down ~15% YTD

4 of 5 analysts rate stock "strong buy" or "buy", 1 has "hold"; median PT is $26.50, per LSEG data

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