Cohu Inc - COHU STOCK NEWS

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.

Cohu, Inc. (NASDAQ: COHU) has announced a significant prepayment of $100 million towards its term loan B facility, reducing the outstanding balance to approximately $206 million. This move was financed using part of the $233 million gross proceeds from a common stock sale completed on March 12, 2021. President and CEO Luis Müller emphasized that deleveraging remains a top priority, with future capital allocation directed towards continuing debt reduction and expanding market opportunities.

Cohu, Inc. (NASDAQ: COHU) announced that underwriters fully exercised their option to purchase an additional 742,500 shares at $41.00 each, raising total gross proceeds from the offering to approximately $233 million. The closing is expected on March 12, 2021. Citigroup, Goldman Sachs & Co. LLC, and Stifel managed the offering, with B. Riley Securities and others as co-managers. The shares are offered under an effective shelf registration statement. The company highlights potential risks in forward-looking statements regarding market conditions and completion timing.

Cohu, Inc. (NASDAQ: COHU) has priced an underwritten public offering of 4,950,000 shares of common stock at $41.00 per share, raising approximately $203 million. The offering was increased from an initial 4,500,000 shares. The funds will be used to repay term loan facilities and support future growth initiatives. The offering is expected to close on March 8, 2021, pending customary closing conditions. Citigroup, Goldman Sachs & Co. LLC, and Stifel are joint book-running managers for the offering.

Cohu, Inc. (NASDAQ: COHU) has initiated a public offering of 4,500,000 shares of its common stock. The offering is fully underwritten, with a potential additional 675,000 shares available to underwriters. Proceeds will be utilized to repay term loan principal and support general corporate purposes, including future growth initiatives. The offering is subject to market conditions, and there is no guarantee of its completion. Citigroup, Goldman Sachs & Co. LLC, and Stifel are the joint book-running managers for the offering.

Cohu, Inc. (NASDAQ: COHU) has achieved a significant milestone by shipping its 4000^th handler from its Melaka, Malaysia facility. The MATRiX thermal pick-and-place handler was delivered to Infineon for testing automotive and industrial devices. Infineon praised Cohu for its effective solutions that maximize yield under strict quality standards. Cohu holds the largest installed base of automotive thermal handlers, offering advanced temperature control from -55°C to +175°C, meeting evolving Industry 4.0 requirements. This achievement underscores Cohu's long-term partnership with Infineon in improving productivity and performance.