Welcome to our dedicated page for Cohu news (Ticker: COHU), a resource for investors and traders seeking the latest updates and insights on Cohu stock.
About Cohu Inc.
Cohu Inc. (NASDAQ: COHU) is a globally recognized leader in the semiconductor test and inspection equipment industry, headquartered in Poway, California, within San Diego County. The company plays a pivotal role in enabling the production and quality assurance of semiconductors, which are foundational to modern technology. Cohu serves a diverse range of industries, including automotive, computing, mobility, Internet of Things (IoT), communications, high-speed memory, industrial, and solid-state lighting, making it an integral part of the global technology supply chain.
Comprehensive Product Portfolio
One of Cohu’s defining strengths is its extensive portfolio of enabling technologies, designed to address some of the most complex challenges in semiconductor testing. These technologies can be seamlessly integrated into its handler platforms, offering customers unparalleled flexibility and efficiency. Cohu’s product offerings are broadly categorized into:
- Digital Test Handlers: This category includes pick-and-place semiconductor test handlers, burn-in-related equipment, and advanced thermal subsystems, catering to high-precision testing requirements.
- Analog Test Handlers: These include gravity feed handlers, test-in-strip handlers, and MEMS test units, designed for analog and mixed-signal semiconductor components.
- Turret-Based Test Handling: Specialized handling and back-end finishing solutions for integrated circuits (ICs), light-emitting diodes (LEDs), and discrete components.
The company’s ability to integrate these technologies across its platforms optimizes testing processes and ensures reliability, precision, and scalability for its customers.
Industry Significance and Market Position
Operating in a highly specialized and competitive industry, Cohu is distinguished by its focus on innovation, customization, and customer-centric solutions. The semiconductor industry is cyclical, with demand influenced by technological advancements and macroeconomic factors. Cohu’s strategic focus on diverse end markets, such as automotive and IoT, helps mitigate these cyclical challenges by tapping into high-growth sectors. Its customers, often global leaders in semiconductor manufacturing, rely on Cohu’s solutions to maintain stringent quality standards and achieve operational efficiency.
Competitive Landscape
Cohu faces competition from other semiconductor equipment providers but differentiates itself through its broad range of technologies and its ability to address both digital and analog testing needs. Its expertise in thermal management, MEMS testing, and back-end finishing further enhances its competitive edge. The company’s commitment to innovation and its deep understanding of customer requirements position it as a trusted partner in the semiconductor ecosystem.
Commitment to Innovation
Cohu’s emphasis on research and development enables it to stay ahead in a rapidly evolving industry. By continuously enhancing its product capabilities and expanding its technological offerings, the company ensures that it remains at the forefront of semiconductor testing and inspection solutions. This commitment to innovation not only strengthens its market position but also supports its customers in meeting the demands of emerging technologies.
Conclusion
In summary, Cohu Inc. is a cornerstone of the semiconductor industry, providing essential test and inspection equipment that ensures the reliability and performance of semiconductors. With a diverse product portfolio, a focus on innovation, and a customer-centric approach, Cohu is well-positioned to address the evolving needs of its customers across multiple high-growth industries. Its role in enabling cutting-edge technologies underscores its importance in the global technology landscape.
Cohu, a leader in back-end semiconductor equipment, reported a strong fiscal Q2 2021 with net sales of $244.8 million and GAAP income of $95.1 million, translating to $1.92 per share. Year-to-date, sales reached $470.3 million with a GAAP income of $122.7 million.
The recent divestment of its PCB Test business yielded a $75.8 million gain and allowed the company to prepay $100 million of its term loan B debt. Cohu forecasts Q3 2021 sales between $220 million and $235 million.
Cohu, Inc. (NASDAQ: COHU) will announce its second quarter 2021 financial results on July 29, 2021, at 5:00 a.m. Pacific Time. A live conference call and webcast will follow at 5:30 a.m. Pacific Time, open to investors and analysts. Interested parties can join the call using specific dial-in numbers and a passcode. A replay of the teleconference will be available until August 5, 2021, with additional access to the webcast on the company’s website. Cohu is a leader in back-end semiconductor equipment and services.
Cohu, Inc. (NASDAQ: COHU) has prepaid an additional $100 million of its term loan B facility, lowering its outstanding principal to approximately $104 million. This prepayment, funded by proceeds from a business divestment, is expected to save about $0.8 million in interest expenses for Q3 2021. However, Cohu anticipates a non-cash charge of approximately $1.7 million due to accelerated loan origination costs. CEO Luis Müller highlighted the importance of deleveraging, noting a total reduction of approximately $202 million in TLB debt during fiscal 2021.
Cohu, Inc. (NASDAQ: COHU) has successfully completed the sale of its Printed Circuit Board Test Group business to Mycronic AB for $125.4 million. This transaction aligns with a definitive agreement announced earlier. Cohu plans to use the net proceeds, after accounting for transaction costs and taxes, to repay approximately $100 million of its term loan facility, enhancing its financial stability. The press release also includes forward-looking statements cautioning that actual results may differ due to various risks and uncertainties.
Cohu, a global leader in back-end semiconductor equipment and services, will participate in the 13th Annual CEO Summit on June 15, 2021. The event, conducted virtually, features small group meetings aimed at fostering investor relations. Presentation materials will be available on the company’s investor page at www.cohu.com. The CEO Summit is by invitation only, intended for accredited investors and research analysts. Interested attendees must RSVP by June 10, 2021.
Cohu, a leader in back-end semiconductor equipment, has announced its participation in several upcoming investor conferences. The events include the Cowen 49th Annual Technology, Media & Telecom Virtual Conference on June 1, 2021, and the 18th Annual Craig-Hallum Institutional Investor Virtual Conference on June 2, 2021. Additionally, Cohu will present at the Stifel 2021 Virtual Cross Sector Insight Conference on June 9, 2021, and at Baird's 2021 Global Consumer, Technology & Services Virtual Conference on June 10, 2021. Presentation materials will be available on their website.
Cohu, Inc. (NASDAQ: COHU) has appointed Yon Yoon Jorden to its Board of Directors, effective immediately. Ms. Jorden is set to serve on the Audit Committee, bringing significant experience as a CFO in public companies across technology, manufacturing, and healthcare. Her notable previous roles include CFO positions at AdvancePCS and Informix Corp. Cohu's Chairperson, James A. Donahue, expressed confidence in Ms. Jorden's financial expertise and leadership, emphasizing her extensive experience in public company governance.
Cohu, Inc. (NASDAQ: COHU) has signed an agreement for Mycronic AB to acquire its Printed Circuit Board Test Group (PTG) for approximately $125 million in cash. With expected net proceeds of $95 to $100 million, Cohu plans to repay principal on its term loan facility post-transaction. The PTG business reported $52.9 million in sales for the last twelve months ending March 27, 2021. The transaction, anticipated to close by June 2021, will allow Cohu to concentrate on semiconductor equipment and services, enhancing PTG's market potential.
Cohu reported a strong performance in Q1 FY 2021 with net sales of $225.5 million, up from $202.4 million in Q4 FY 2020 and $138.9 million in Q1 FY 2020. GAAP income reached $27.6 million or $0.61 per share, compared to $14.9 million in the previous quarter. The non-GAAP income was $40.5 million or $0.89 per share. Total cash and investments at the end of Q1 stood at $291.0 million. Looking ahead, Cohu forecasts Q2 sales between $234 million and $250 million.
Cohu, Inc. (NASDAQ: COHU) will announce its Q1 2021 financial results on April 29, 2021, at 5:00 a.m. PT/8:00 a.m. ET. A live conference call will follow at 5:30 a.m. PT/8:30 a.m. ET, accessible for investors and analysts via phone and webcast. The replay of the teleconference will be available until May 6, 2021. Cohu is a leader in back-end semiconductor equipment and services, providing advanced solutions for semiconductor and printed circuit board manufacturing. The webcast will be hosted on the company’s website.
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