Cohu Slides to $48, Below Every Insider Exit Price
Cohu's Chief Customer Officer executed four open-market sales at $55.82 to $63.88 over the past 90 days; shares have since fallen to $48, below every exit price. Analyst consensus of $70.875 and 38.4%
Cohu Stock Falls Below Insider Sale Prices at $48
NEW YORK, August 30 —
Cohu, Inc. (COHU) shares have slipped to $48, below every open-market sale the company's Chief Customer Officer logged in the past 90 days, with the lowest exit at $55.82 on August 19.
- CCO Christopher Bohrson executed four open-market sales at $55.82, $63.88; his exit floor now sits $7.82 above the stock.
- TTM revenue of $520 million is growing 38.4% year-over-year; the last quarter produced an 86.5% EPS beat.
- Short interest is 22.8% of float; institutional ownership is reported at 116.7%, inflated by borrowed shares resold short.
Every Exit Price Now Sits Above the Stock
Cohu, Inc. makes the precision hardware between chip design and finished product: pick-and-place handlers, thermal test systems, probe heads, and test contactors used by semiconductor manufacturers and test subcontractors globally. Christopher Bohrson, whose title as Chief Customer Officer gives him direct visibility into customer ordering behavior, sold shares in four open-market transactions ranging from $55.82 to $63.88 over the past 90 days. His largest block, 10,000 shares on August 19, cleared at what is now the lowest of his exit prices, and the stock has continued falling. Insider ownership stands at 2.8%.
What the Recovery Thesis Requires
The most recent quarter produced an 86.5% EPS beat, trailing revenue grew 38.4% year-over-year, and free cash flow of $66 million alongside net cash of roughly $170 million make for a solvent balance sheet. The forward P/E of 26x, though, prices a company whose trailing EPS remains negative at -$0.83; investors can interrogate the implied profitability assumptions with a DCF calculator. The consensus is pricing a full-cycle inflection not yet visible in annual results.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| COHU | $2.3B | 26.0x | +148.4% |
| KLIC | $4.2B | 13.7x | +121.9% |
| UCTT | $3.1B | 11.8x | +192.4% |
| ACLS | $3.6B | 21.9x | +45.2% |
| PLAB | $1.6B | 13.4x | +25.9% |
| ICHR | $2.1B | 17.0x | +236.4% |
The Number to Watch
Short interest at 22.8% of float signals the skeptics are already positioned, and institutional ownership reportedly at 116.7% reflects a float amplified by borrowed shares resold short. Cohu's DI-Core software provides real-time usage tracking across its equipment fleet, giving the company advance visibility into demand shifts. The specific number to watch is whether EPS turns sustainably positive: a second consecutive quarterly beat would pressure the short base, while any revenue deceleration would vindicate Bohrson's exit timing. Run the free Cohu, Inc. deep-dive → for the current financials.
Basis Report is independent research for informational purposes. It is not investment advice and not a recommendation to buy or sell any security.
Frequently Asked Questions
Why did Cohu's Chief Customer Officer sell shares?
Christopher Bohrson executed four open-market sales at prices ranging from $55.82 to $63.88 over the past 90 days. His largest block, 10,000 shares on August 19, cleared at what is now the lowest of his exit prices. His title as Chief Customer Officer gives him direct visibility into customer ordering behavior, though the article does not disclose a stated reason for the sales.
What is the Cohu analyst price target?
Analyst consensus stands at $70.875, implying 47.7% upside from the current $48 price. That target is anchored to a semiconductor equipment cycle inflection not yet visible in annual results. The forward P/E of 26x prices a full recovery in a company whose trailing EPS remains negative at -$0.83.
What is Cohu's short interest?
Short interest stands at 22.8% of float. Institutional ownership is reported at 116.7%, a figure inflated by borrowed shares resold short. A second consecutive quarterly EPS beat would pressure the short base, while any revenue deceleration would vindicate the insider's exit timing.
How has Cohu's revenue grown recently?
Trailing twelve-month revenue of $520 million grew 38.4% year-over-year. The most recent quarter produced an 86.5% EPS beat. Trailing annual EPS nonetheless remains negative at -$0.83, so annual profitability has not yet confirmed the quarterly momentum.
What is Cohu's balance sheet position?
Free cash flow stands at $66 million alongside net cash of roughly $170 million, supporting a solvent balance sheet. Insider ownership is 2.8%, and institutional ownership is reported at 116.7%. The forward P/E of 26x prices a full-cycle profitability inflection not yet visible in annual results.
Cohu shares have fallen to $48, now trading below every open-market sale price logged by Chief Customer Officer Christopher Bohrson over the past 90 days — the floor of which was $55.82 just eleven days ago. The 47% gap between the current price and the $70.875 analyst consensus target leaves investors weighing which read is correct: the sell-side's recovery thesis or the judgment of the executive whose job is managing the company's customer relationships.
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